It's not smart to borrow funds and Pay back - page 5.

tygeade

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

Dude is not even talking about "not taking out loan", he literally talks about how we should all take out a loan, and then not pay it back Cheesy

He is obviously trolling, check out all the topics he created so far, he is a famous spammer and a troll, he opens up many accounts, it's usually usernames that end with numbers, he keeps doing that and everyone seems to be fine about it.

His suggestion is that we should take out a loan, and when bank wants us to pay, declare bankruptcy, but have the money something like crypto, so nobody would know, and when the bankruptcy is official, just go ahead and put that money back into business and have no payments and then start a good business and even take out bigger loans after having a better credit lol. That obviously wouldn't work, they will make sure that you will never get a single cent into your account ever in your life. Who would want a life like that? I am sure that you will be eventually getting into some trouble if you did that, and he knows that too, OP is just trolling.

Dr.Bitcoin_Strange

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Well, I don't agree with this your logic or should I say it's your principles. Before you take loan from the bank, you are going to be required to provide at least two guarantors and you might also be required to provide some Coleteal and if you fail to meet the needed requirements, you loan request will be rejected, that's why this you logic can not work in many cases.

You can't just walk into a bank and requeste for loan from the bank and they will hand it over to you without any requirement. If this your logic was true, you will see everyone taking loan without repaying it and nothing will happen to them. Lol, you're funny.

Imagine you own a business and all your customers are buying on credits, if they decide not to pay you, you will be bankrupt and have to close down your business.

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Both banks and other financial institutions rely on loan repayments so as to have stability and offer services to other people. So if many people do not pay their loans, the financial system will likely experience quite serious problems, which will have a negative impact on society at large.

Moreover, a successful business is built on integrity and trust. If an individual refuses to return a loan, then he or she will spoil the reputation and may be exposed to such legal implications as insolvency and court cases. Not only is this approach risky but it is also short-sighted and precludes variable long-run prospects for ongoing prosperity.

It is better to borrow, having in mind why and having planned how to pay back the money. Thereafter building a record and relationship with a financial institution would be more effective in the future.

Coyster

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Quote from: JeffBrad12 on August 10, 2024, 08:23:22 PM

seems like OP never really take a loan tbh,

I don't think he has, or maybe he is just trolling, there are a lot of trolls in the Economics section these days, either spewing FUD or talking bs, i don't why they do it nor what they want to profit from it, but it makes zero sense to me. Nobody should take what OP says seriously, thank God that the world he has in his head, is different from the real world.

erep

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Quote from: Z_MBFM on August 11, 2024, 05:34:06 AM

If you can start a business by taking a loan from the bank and can make enough profit from it, then you will be a successful businessman. In this case, taking a bank loan will have many positive effects for you. But not everyone can take this risk because they think about the future that after starting a business with a large amount of money from the bank, if the business fails, there will be no way to repay the bank loan. Then he will be in great danger. And that's why it is not possible for everyone to think that they will set up a business with a bank loan. But those who can succeed in business by taking loan from the bank can definitely be called smart person.

We must consider the risk of interest payments before deciding to take a loan from a bank, even entrepreneurs must consider the difficult decision to start a new business with a bank loan, they must have a good business plan and strategy to achieve profit targets so they can pay off the loan without fines, I I would choose to start a new business according to capital from my finances rather than taking a loan from the bank, but all decisions depend on the individual but important points must be considered well before you regret it. Bank interest is very high from the list of loans at the bank, even my friend said he made the wrong decision because he took a bank loan.

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Quote from: KiaKia on August 11, 2024, 07:37:47 AM

Get the loan and don't pay back, as if its a legal thing to do and see yourself end up in a police cell its that simple, you are going to be labeled a criminal if you take a loan with no intention of paying back, it is because of people like you that loan finance are running into bankruptcy, don't take loan at all if you can't pay it back.

Taking loan to invest is not a good plan unless you are a wealthy fella who can pay back even if you lose all the money on the long run, this is why loan suits the rich more than a poor man, a poor man needs a job not a loan.

I will rather work for money and use the money to take risks on investments, if I lose it all its my money, atleast I am not going to pay anyone back.

Most of the time we are having interesting things here because we are not able to understand how peoples are managing this all as OP is saying having loan and never give back is surely just joke because in many cases things like these can bring terrible side effects, and we can ruin our life as well. Here I also agreed I will never take loan for investment because it's risky and things can go beyond my limits we always need to manage as we can do things without any problem and having trouble for ourselves even now it's never been easy for all but still we need to understand ground realities about this.

If someone is interested in investing then surely he needs to go through with strategy because this can help without any problem after having investment like this can bring more profit and better things in life instead of going through for taking loan and having double tension.

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

This should be the case, if we borrow funds, there must be a previous purpose, at least to set up a business so that next time we don't need to borrow funds again from certain parties if it's not too important and can still be worked on.

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

Get the loan and don't pay back, as if its a legal thing to do and see yourself end up in a police cell its that simple, you are going to be labeled a criminal if you take a loan with no intention of paying back, it is because of people like you that loan finance are running into bankruptcy, don't take loan at all if you can't pay it back.

Taking loan to invest is not a good plan unless you are a wealthy fella who can pay back even if you lose all the money on the long run, this is why loan suits the rich more than a poor man, a poor man needs a job not a loan.

I will rather work for money and use the money to take risks on investments, if I lose it all its my money, atleast I am not going to pay anyone back.

stomachgrowls

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

If you do like to take up some loan and wont really be tending to pay it back then you are just basically doing suicide. I dont know on where you do get that idea or suggestion on which you are taking up some loan
so you are required on paying up the whole amount+interest on the said due date, even if we do say that they are printing out money out of thin air or simply make use of others money to earn money then its none of our business. If you are really that wanting to get yourself that imprisoned then it do it into the things you had mentioend above. Come to think that getting loans in banks or any financing or lending would be having that contract even if you do talk about having that accountant but this one couldnt really be saved you up on the moment that legal things do starts to kick in.

Im that familiar with these kind wordings but only into those people who are billionaires or who do have that capacity on making those money work for them or having those tons of back up plans
once things becomes shit or do failed out, but if you are someone whose really just that an ordinary person then it would really be just that suicide on what you are gonna tend to do.
This is why it would really be better if you do just simple forgot this principle. Grin

mirakal

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It is not smart if you borrow money for useless stuff with no investment purposes; you will definitely end up empty-handed and broke. But if we are doing this for money multipliers, then it is not impossible to payback our loans, whatever the amount.

In fact, successful businessmen have been on several bank loans, which means that it is a good idea to become wealthy. I think you have to refresh your mind and understand clearly how loan money can be a resource. Just take a look at its brighter side and how these rich people deal with it, rather than thinking it will be a burden to you. Otherwise, you will not become like them.

Z_MBFM

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

If you can start a business by taking a loan from the bank and can make enough profit from it, then you will be a successful businessman. In this case, taking a bank loan will have many positive effects for you. But not everyone can take this risk because they think about the future that after starting a business with a large amount of money from the bank, if the business fails, there will be no way to repay the bank loan. Then he will be in great danger. And that's why it is not possible for everyone to think that they will set up a business with a bank loan. But those who can succeed in business by taking loan from the bank can definitely be called smart person.

el kaka22

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Way too many people do fine for just a while and think that they are going to keep doing fine and that's why they borrow money from either people they know, or they go get some loan and try to keep on doing what they did. The idea is that if they did alright so far, with more money they will keep on doing alright and they will pay the loan back and be rich.

Let's assume that you put in 10k and turned that into 18k, that is huge and it is 80% return, so what you do is get 100k in loans, and hope that you also make that into 180k, by logic you will pay just a bit back, lets say you will pay 120k back, then that 60k is your profit, and suddenly you are super rich. That is what people imagine when they take out a loan to trade, but what they miss out is that just because you made that profit once, you wont do it all the time, and the bad results would mean you will not be able to pay your loan back. If you take out 100k, and instead of being 180k, that becomes 80k instead, that means you will be in big trouble.

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Quote from: Spaceman1000$ on August 09, 2024, 06:18:39 AM

Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

OP I really don't get the point your driving at, how do you take a loan with the option to payback and after getting it your refusing to payback, that's fraudulent and shouldn't be encouraged. You refusing to pay back the funds is like crumbling another man's business, and your in turn wanting to open your own business, how ironic does that sound, because situation like that can likely happen to your business too, which I believe you won't find it funny. So if you know you don't have the capacity to pay back the loan, don't collect it in the first place.

Very ironic like you rightly said, banks that gives loans are running their businesses to make profit and a person takes a loan without any intentions of paying back, then expects to start a business with the money and wants to be paid. If everybody buys something without the intentions of paying, including borrowing money without the intentions of repaying, then they'll be living in a criminalized community or country, in the end there'll be chaos and every business structures will crumble.

Taking loans to expand your business in the areas that the demands are high is a very smart business decision, you will repay the loan from profit made and increase your stock and capital. Where taking loan doesn't make sense is borrowing to buy luxury items that will depreciate, entertainment and gambling, it can become difficult to pay back because the loan did not yield any returns or profits.

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Well, I think it depends on what you will do in your situation. If the payment is already needed, taking out a loan would benefit you. The urgency changes most of the time, and you must know how to recover and pay for it. Just continuously using loans as a never-ending cycle would lead you to fatigue.

It depends on the person's choice, in my opinion.

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Quote from: Qiubell5 on August 10, 2024, 07:46:53 PM

in loans it depends on the intention of people to return it and each individual has a different mindset in paying for a loan is an obligation that must be returned, in terms of borrowing, good planning is needed because you have to see the aspect of managing your money, because it is very important, so that there are no obstacles and returning it because as a society of course it is never free from the problem of borrowing because it is driven to need to add funds, and for other things it depends on the needs of each.

No need to be complicated because in essence everyone who likes to take loans for certain things is certainly very obliged to return them on time without having to give any reason to the party from whom he borrowed. Because if the person who borrows is very aware of the difficulty of being able to return the loan after he takes it, of course he does not need to rush to make that decision in his life because in the end it must be paid according to the provisions that apply to him. So there is no need to find any excuses for something as simple as that because the main point is clear, namely having to pay it back after taking it.

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

First of all makes you only think of borrowing money when you are in need, and when you finally get where to borrow from why would you think ot not paying back? In my opinion it's a fraudulent thing to do because the money given to you isn't free most times those money given to you belongs to other people. Before taking a loan you must make sure you have a plan to pay back and you can do so by starting up something with that money no matter how small it is... most people usually have nothing doing and have zero plans to do anything after collecting a loan that's why paying back becomes a problem, stay away from loans if you can't pay back and look for other ways to get money.

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Quote from: retreat on August 10, 2024, 10:44:48 AM

Basically what you are saying is like telling people to commit crimes, because if you have a debt, then it is your obligation to pay it back - avoiding or running away from that debt is like running away from your responsibility. For example, if someone borrows from you, do you let them run away from their responsibility? Likewise, banks will not let you run away from your responsibility to pay it, regardless of where they get the money for your loan is none of your business, the most important thing is that when someone borrows money they have to pay their obligations without any reason.

When someone takes out a loan of course they must be able to pay off the loan and it is very bad if someone takes out a loan and they try to avoid paying off the loan they took out and if there is someone who takes out a loan and does not pay what they have borrowed of course they will be in trouble and if they borrow from a bank of course what they used as collateral to the bank of course they cannot get back until they pay off the loan they took out because the bank will of course auction off the collateral they gave to the bank when they took out the loan but did not pay it off.

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LOL, when someone takes out a loan, whether small or large, we cannot judge whether he is smart or stupid. Apart from that, making a loan and paying it back is a form of someone's responsibility for having made a loan, whether the borrower makes free money or not. However, suggesting something like not repaying the loan is ridiculous. People don't always make loans to banks, but some people make loans to companies or other people, where they also try hard to make money. So, taking out a loan and paying it back doesn't make someone stupid, but it does make them look responsible.

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Quote from: Coyster on August 10, 2024, 04:59:30 PM

Taking loans with no intention of repayment is a crime if you don't know, and you can land yourself in trouble doing that, your OP sounds so easy and smooth to carry out, but that is not how things work. Where i come from, you don't just take a loan, the lender must see your income statement, they must be certain that you are earning enough to repay later, other times you have to provide a collateral for the loan, nobody is just going to keep giving you loans to "build your life" as you are imagining; get to work.

seems like OP never really take a loan tbh, this kind of conspiracy theory only be coming out from people who just never take a loan, you can only take big chunk of loan with minimum collateral if you're trusted man enough for example is a good businessman and good businessman will do whatever they can do to keep their reputation and they would never pull something like this because it can get their business destroyed, make them lose reputation and got them in to a trouble. it comes out as a foolish statement coming from OP with all these bs and intending to not pay off the loan is a crime as you stated so anyone out there should never ever take this advice otherwise you might get into a trouble.

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Quote from: Mansory22022 on August 09, 2024, 05:06:04 AM

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.

in loans it depends on the intention of people to return it and each individual has a different mindset in paying for a loan is an obligation that must be returned, in terms of borrowing, good planning is needed because you have to see the aspect of managing your money, because it is very important, so that there are no obstacles and returning it because as a society of course it is never free from the problem of borrowing because it is driven to need to add funds, and for other things it depends on the needs of each.

Topic: It's not smart to borrow funds and Pay back - page 5. (Read 1546 times)