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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.

Borrowing money to make money is extremely smart. You have not been educated on how to make money. Do you think some of the biggest real estate moguls in the world bought all the properties in their portfolio in cash, without borrowing from the bank? Of course not, it is smart to borrow money providing it’s being used to create wealth.

Warren Buffet, one of the richest people in the world once gave advise that the only borrowing you do should be on a mortgage, at a low rate. Few rich people got that way overnight and it may have taken many decades following a strategy before it finally paid off. Many people invest small amounts consistently, every month, in the stock market and build up a generous fortune over time by buying the average of the market. There are many different routes and strategies to wealth, so if you stumble across one that works for you then you might as well stick with it and give it time to pay off. People can end up paying down a mortgage on a house over a lifetime, which is just one other example of wealth building - as long as you don't buy at the peak of the market, you will be in positive territory with most property buys in major metropolitan areas.

If bank can print money out of tin air why did they go borrow from other countries for example,our government has borrowed billions of dollars from the Chinese government why can't our country print money and stop borrowing. Are you indirectly telling me that it's that easy to go print money and use it all over the country is that what you meant?

No my dear if is that easy for each to regularly print money you wouldn't see any country goes to the next country to borrow to fixed their nation or even facing difficulty during war because they could easily prints more money to get themselves sorted out but instead they wait for some relief materials from either external country or from their government.

However, you are actually giving a wrong advise to people around here because no one would want to borrow and not get paid back why then did they go borrow money from lenders because they don't have and can't make money on their own.

If I may ask, what is your main point of this topic? Because I read it for more than two times, I have not been able to understand anything tangible. What I was able to convey was that you are trying to explain the importance of borrowing a loan to create a business, then borrowing a load for some personal use or to pay back another loan, so I won’t understand what was really your point.
 
Although all I know and believe about loans is that the best way to enjoy them is just to borrow them in order to care for a great source of income that will bring the money you borrowed and the interest that was in the loan so that you will be able to pay back and still have a source of getting more income that will provide you with the best income you need. 

So basically you're advising them to steal or commot crime. By not paying back their loan, you're blocking the way for those that need loans in the future because after a lender gets scams of not getting pay back, they'll go bankrupt at some point or just stop offering the service in general and this will make it impossible for future loan seekers to get one. When we take some decisions, lets stop being selfish and think about what the consequences of our actions will be to others. I'm not a big fan of loans but when you take them, they should be for a investment reason or to be used in your business which is technically still an investment.

Take the loan, use it for your business and pay back the loan so you don't also block an avenue to get loan assistance next time when you need it because you can't go free of not paying the loan. Karma is real and anything you do will somehow come back to either hurt your or be of a blessing to you.  Owing (debts) has its bad effects so don't think you're doing yourself any good by owing when you have the money to clear your debts and be debt free

So you are trying to say that if one take a loan he or she shouldn't pay back?

Well, only this post done spoil your reputation because you dey try tell us say those wey offer their service to us do bad things. Abi you know know say nah their business turn dey do?
However this nah part of theft of you know kno know am now.

In my country, it's called "digging a hole, closing a hole" :D Although it seems silly, this has always happened to some people even though consciously or not this is an act that is actually quite stupid and only adds to the suffering but they will continue to do it for several reasons.

First there may be people who deliberately do this with some future planning but what I have encountered in my current environment, this happens because they are very difficult to pay their previous debt obligations which makes them borrow again to cover previous debt payments.
It's a last resort because they don't want the collateral they have to just disappear but instead this makes them unaware that they are getting trapped with bigger debts and interest.

You really believe that many people will follow what you posted in this thread?. This will only make people trap with the interest that will result in more debts. You may think that it's a small amount but it will increase from time to time due to the interest and if the person didn't pay the loan then it will only make it more money to pay. The best action that a person should make is to pay the loan once a person have money to pay the loan.

This is economics not politics or fantasy, economics still has a relation to maths even when the monetary system is fractional its not free.    Theres only one cake, cutting more slices doesnt feed everyone sadly.  If only that were true, it does possibly increase liquidity and crumbs for everyone might be the freestyle policy.

   Some people think paying the working majority in a population crumbs isnt going to work, it will still collapse.  Bankruptcy is deflation and across an economy you will see collapse from these ideas.  Its dangerous to say you can walk from a debt like that; they can still put people in prison for bad debts if you resemble a thief they will do that.   Reminds me of a mafia movie more then anything :D

The rich know how to take loans and use them to their benefit, but they are never with the intention of not paying back the loan. It is not good to borrow money and not want to pay, it is an irresponsible behaviour that makes you not to be credit worthy. In some places you can be seriously risking your life by doing so because some lenders will not take this nonchalance towards paying back your debt lightly.

It is also your own morale which will be put into question here. Can you really be at peace with yourself knowing you owed somebody and not pay it back? Also, even if it is bank, they will look for a collateral in exchange of your loan. So if you won't pay, they will find a way how to get your collateral.

Op, so basically you're trying to say that how someone can take a loan an flew away with it and not pay it back and then with that loan amount that person may set a business at someone else's name and take more loans with the help of that business?

If that's what you're trying to say then I must tell you that those are tactics often followed by corrupt people and the scammers. A good person when takes a loan then he/she pays it back and also pays the interest of the loan.

That's not smart at all, that seems to be an arrogant and idiotic move of taking a loan and not taking it back. When I was younger, I thought that it was fine to ask for a loan from anybody and then won't pay it back but that shows how shitty I am as a person if I don't do that. Also, if you don't believe in karma, maybe someday you'll experience terrible things that you'd ask yourself why it is happening to you. And if your goal is to start a business, always start small and use your money so that you don't have debt upon trying out and then you won't be paying any interest. The feeling that you've started it out with your own pocket is quite satisfying and you have no obligations to someone because it's your own money that you've started it, whether it'll grow or not.

so you are writing a thread on be a fraud.

In most countries if you borrow money via a loan and know you are not gong to pay it off you are conspiring to commit fraud.

So basically  you are advocating we should commit fraud.

The mods would do well to lock the thread because it is absolutely illegal to enter a loan in the USA knowing you will never pay it off.

And worse yet you are advocating we should all be out in the open.

I know the method of avoiding payment by willfully defaulting on debt or going into bankruptcy is illegal and unethical and such practices undermine the trust and integrity needed for the financial system and can have serious consequences for others, lenders, employees and suppliers although banks have power creating money through borrowing though this does not justify avoiding payments or treating money as “free”. In my country and I know other countries too fraudulent practices such as forming a business in the name of others to manipulate credit and financial arrangements are ethically questionable and potentially illegal Credit quality and payments are key to securing credit good history and maintain a good reputation. Ultimately, adherence to ethical standards and honest discharge of financial obligations are critical to long-term success and stability.

honestly I don't really understand what you're saying, taking a loan and paying it back, but do you mean digging a hole to cover a hole?
taking a loan is not completely stupid or wrong, because if the purpose is clear such as for business or work capital then in my opinion it is permissible, but of course don't forget to consider other things because there are indeed many things to consider when taking a loan for business or work capital. what is not recommended is borrowing money or taking a loan just to meet lifestyle standards.

besides that I'm sure everyone has borrowed money even in small amounts. but when you borrow money to start a business or work it is not a wrong action as long as you have considered everything well such as the estimated income that can be obtained to pay off the loan that was made at the beginning.
maybe this page can help
https://talkimg.com/images/2024/08/10/5BSXP.png
source : bankrate (https://www.bankrate.com/loans/small-business/how-to-manage-a-working-capital-loan/)

Wait what? Do you mean only a fool gives a big uncollateralized loan? :D
Most of the time you need collateral to borrow money, and guess what? They will happily take it if you don't pay.
What OP said is common and people will do just that everywhere, hence most of the time people need collateral to borrow money.

Even in this forum, your account's reputation is your collateral if you use those lending services.

Well sometimes we can not afford to buy something so we must get a loan for it. It is like this for my car because I can not pay for the full price of the car.

And we can put things on our credit card. That is something I am only going to do if I am able to pay off my credit card. I do not like to pay alot of interest when I do not need to do it.

I agree with the money makes money part but you still gotta pay your loans though? Pretty sure the point of taking a loan is to create something, whether it be a service, product or whatever,  and manage it well to the point where the ROI of that something is above the interest that the debt is under in. At least that's what I know when it comes to borrowing money for business.

There's also how the rich use it where they pretty much avoid taxes by using loans instead,but pretty sure that's not what you're talking about OP. Imagine assuming you're building credit history when you're not even paying the loans lol, gl getting more. Not to mention some collateral is most likely involved as well in cases of big loans.

I come from a culture where borrowing is considered risky and highly undesirable. Taking a loan and not paying it back is even worse because that is basically a crime in most cases, and that can get a person in serious trouble. So I think it's better not to take loans, but loans that are taken must be paid back. Alternatively, you can borrow on collateral, and then have the collateral taken instead of having to pay back the loan. That can be a useful strategy in some countries and some situations, where you're only borrowing because you want to avoid paying the sales tax.

Is this a lesson in immorality and circumventing the law?

Even if I am against banks and their entire system and I know that they create money out of nothing and are based on debt and so on, but I will not accept in any way to take a loan without paying it back, this is theft and has no other name.

If these are your thoughts and beliefs, you should not spread them among people because it will cause chaos in society and you may find yourself in prison one day.

Imagine a situation where people keep borrowing and borrowing without paying back because the money is free for everyone and the banks too on their part keeps replacing those money borrowed by printing more and more money out of thin air. There will be too much money in circulation and this will result in the devaluation of the currency thereby leading to inflation.

The after result of inflation will mean a higher cost of living for everyone where so much money is used to purchase fewer items if there are not much supplies to meet the demands of the people. This will definitely not be favourable to everyone.  Therefore, before anyone thinks of borrowing without paying back, they should consider also the negative consequences of the actions they intend to take.

In my country, it is a crime to borrow and not pay back. Therefore I will not advice anyone to do such.

Maybe what you mean is don't take a loan to pay off an old loan, this is indeed a mistake. If we take a loan, then we must pay the loan from the proceeds of the loan. For example, if we take a loan for a business, then to pay off the loan, use the proceeds of the business. If so, it means we have taken a smart loan.
However, if you mean taking a loan but not having to pay it back is the worst thing, because every loan must be paid back, if you are unable to pay it back, it is better to stay away from debt. Basically, debt is good if it is used for productive things, but if we go into debt for consumptive things, it is a stupid act that we should all avoid.

These days you can't just take a loan from a company or individual without collateral. There has to be something you have to show that you can pay back the loan so if you go bankrupt it means you can no longer operate your business and therefore you can't pay back the loan so the collateral would be sold off and your debt will be paid.

Aside from the fact that what you're advising is illegal, it doesn't work most of the time. When you declare bankruptcy, there are process the courts follows and makes sure all credits are paid even if they cannot get the full amount of the money they're owed.

You also said only a fool will borrow money to pay back, that's so laughable. The right thing to say is borrowing money for consumption is wrong, especially as a business. As a business, money should be borrowed for investment. Before taking the loan, you should have analysed to see how much you'll make from that loan and how you can pay it back. The money used to pay the loan should come from the investment of that loan. You can't take a loan and pay it back from something else, that way you'll run at a loss.

       -      It is not a good habit to borrow money and then make the borrower pay back what you owe to other people. In this way, many people get into debt. Only stupid people do this. I know many people who do this, so they are slaves to debt, and they have chained it to their lives.

But I once did that. I took a loan, and I used what I loaned to a small traditional business here in our area, and by the grace of God, it has been existing for more than a year. It has continued to operate the business here and has paid, so I am in debt.

What you suggest is actually quite reasonable for everyone to understand, especially for people who like to make loans for something. Because loans in any form will be more useful and good if they can be used for productive things that can bring in more money so that it can make it easier for the person who borrows to pay off their loan without having to dodge it with various reasons. But if you borrow with the intention of not paying it back because all the proceeds from the loan are used for consumptive things, it is better not to do something stupid like that because the consequences will be very bad.

You are ruining the whole system when you borrow money without intending to pay it back, not only the lender. You're helping to create a society in which the consequences are real and financial responsibility is laughed at. Honest people wind up paying more interest; the whole lending system gets tighter, which makes credit more difficult for everyone to obtain. You will gain temporarily, while everyone else loses long term.

What does it say about you when you start a company specifically to evade debt? Real wealth is about realizing the ability of money to generate value, not about manipulating the system. It's about supporting the economy, developing a reputation, and making meaningful investments in items that count. You create true riches in your character and your community as well as in your bank account.

Thus, stop trying to fool the system and begin to play the game as advised. Make wise, moral financial decisions to see how much more lasting and rewarding your success will be.

Credit / loan is also one of the financial instruments, which can't be bad or good, but only the inability to use this instrument. If the credit is used to buy a new iPhone or MacBook, this is an unwise decision, but if these devices are used to earn money that will allow you to earn more than your credit and interest, then this is certainly a very reasonable decision.

"It's not smart to borrow funds and Pay back" - It's much more profitable to never pay back debts / loans :) (as most people around you do)

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.

Are even serious with this post or suggestion because you clearly suggesting to estafa a bank or person who will lend you money. Not all borrowers main purpose of loan is for business because loan has different purpose and some people use it for important expenses such as housing loan, medical expenses and other things that needed badly while their funds is insufficient for that time.

It’s normal to payback a loan after you use it to your emergency expenses or else you will face jail time or consistent building up interest rate.


This is the right strategy for loan intended for business not a general rule for loaning.

Taking loan will only be wrong if you use it to buy liabilities or those gadgets where you can earn good returns. With these cases we can agree that borrowing funds is not smart decision to do.

But if you are for building up your business because this is already and you don't have enough funds then provably those loaned amount is truly helpful for the side of those businessman who aims for growth.

That's why for other they should not get afraid to take some loan as long as this is intended for good used also as long as it can benefit them for long term and for sure that everything is fine about those decisions they do.

But don't suggest about taking loan then don't pay it back since its bad attitude since everyone should pay their responsibilities on where they take those money.

You are encouraging people to go and steal because if you are requesting for a loan with the intention of not paying it back, then you are planning to steal from the person, which isn’t making any sense. If you know you can’t pay back the loan or you think the interest is too high, then it’s just better you don’t take the loan rather than take it and not pay it back, that’s just a criminal act, which doesn’t make sense.
 
Money is free, but you have to work before you get it. Any amount of money that belongs to you is your money, and it’s a free money to you. But if you request a loan from someone, then the money is not your own, so if you are granted the loan, you have to pay back the money.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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.  ;D

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.

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.

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.

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.

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.

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.

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.

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 :D 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.

I have gone through your posts to figure if you are more convenient in writing in your local board using your local language but in a long while I have made the research, I did not see one but if I did, I would assume this your thread was a translation error probably your inability to write in English which misquoted your opinion.

But on the run, I disagree with you OP, infact, there is no single reputation on such individual who burrows without wanting to pay back but yet you want to invest anonymously with it.

This Is typically fraud and do you ever think what will happen if karma hits you? What if you ventures on developing an investment under someone else and then then person denies you access to the resources? Would you feel mad and disappointed?
To me, I don't care how you may feel and ask michi know, a borrowed fund to someone is come with trust and whoever that takes your advice is a betrayer whose nemesis will always catch up with.

This is absolutely fraudulent exhibitions and when you are apprehended, you must face the law.
Only ungrateful, lazy man and fraudsters would practice this and at the end, your efforts will be a waste.

Today, the world's richest people have a penchant for borrowing. Many have established their businesses with loans. I would definitely call borrowing or taking loan is smart. People who have the ability to pay their debts with loans or try to invest in a profitable business with loans are definitely smart. Loans are bad for those who do illegal and unprofitable activities with loan money. There are some people who take loans for their luxuries which is definitely a suicidal decision. Borrowing should not be viewed as a bad thing. Nowadays it is difficult to carry out any big project without loans. Everyone who has become a big entrepreneur today has reached that stage by taking loans.

https://talkimg.com/images/2024/08/12/5eKAo.jpeg (https://yieldfinancialplanning.com.au/good-debt-vs-bad-debt/)

I don't know if this person understands how the literature works in making loans to banks, when you want to borrow from a bank for business capital of course it is not $100, it will not be enough, and again you must have credibility as a borrower to be trusted with their money, then you must have collateral assets at stake such as vehicle titles or land that you own to be used as you have a high level of confidence in borrowing money from banks.

No loan these days is allowed without collateral, so you will have to pay every time to get back what you have pledged.

If you think that after borrowing you will not pay, you may be able to do that to your relatives and then you can look for another loan, but if it is in the bank your data will be recorded and your name will have a negative tag and can be sued because you violated the agreement.

Now the question is, where will you get that money that you're saying? If you don't have any money in your pocket and you have a business idea and you want to start it. Where will you get your funds? That's where good debt comes to action and this is what rich businessmen are doing. They're getting debt to be used in their business, and they will pay it overtime.

You're looking at one side of the story and you're not looking at the other side of it. There are times where borrowing money is good and although there's some risk to it, if you know how to handle that risk then that risk will turn out to be a reward. I'll just share an example. If you borrowed $1000 during the bear market in 2022, bought Bitcoin and then held it until now, you're $1000 might be tripled or even more currently, and if you have a steady source of income, you might got paid it already. At the end of the day, borrowing isn't a bad idea if you know how to handle it.

As for OP, let's learn even more then we can share our ideas here. :) I'm also learning as well like others.

Is this a tutorial to make you a criminal? lol
You're indirectly saying that you should borrow without paying and I think that's a pretty ridiculous thing to do especially when you're borrowing from some government agencies like savings and loan cooperatives or banks where you'll definitely be asked for your data first.

If you are bothered by the interest from borrowing then don't borrow money because you can't afford to do it because however when we borrow money there must be interest that we have to pay in the end.
Think that's smart? I don't think you understand how loans and debts work in this case because the statement you gave in this case is like a criminal mindset that justifies any means to get money.

When you have a new born idea that you want to invest in it's better to start without a loan but when you want to put money into things like big investments e.g real estate etc you have to be smart to borrow some money and strategies how you can settle all that without dispute. thinking of how smart one can be to borrow and not pay back, you're definitely on the wrong side because if you do you will not go free, do you think someone will just open a bank without having his root on how to get money back if not being paid as agreed? you must be dreaming of you think so.

Just don't try to over smart yourself if not you will get stuck somewhere that you won't escape.

Wanna say on the same thing on which no one would be on their right minds would really be definitely doing this idea on which we know that you are really just that putting up yourself
on such trouble and this isnt something that you could really just that doing it considering on taking up some loan and ending up on non paying it just because they are the ones who is responsible on printing cash?
What the shit kind of idea that OP does have this kind of thing into his mind. Yes, they are indeed that institution but we do know that this is something which is really that doing up their business
and whenever you do took a loan then of course you would really be agreeing all of their terms on which its been that stated and this is something that you must agreed upon.

On the moment that  you have that signature of yours on the said agreement then its common sense that you had aggreed all the for things that stated there. Any violation or breaches
of contract would really be ending up on legal approach and this is something that will really be putting you up into such trouble. If you dont really like or want yourself on getting
imprisoned then never ever take up this kind of idea or suggestion. LOOOOOOL!

Should I call this childish or greedy? I don't even know because it's funny. Why will you take a loan and don't pay back? What does that mean, smartness or what? And you think you will be safe by collapsing another business. If you know you can't pay back the money with the interest, then why take the loan from the first place you would have and wait and gather the money to sort your problem and don't take the loan.

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However, this is a learning environment. Do not bring any fraudulent act here; the forum is against that. You can't just be advising people how to cheat or defraud another person because the thing you said is fraud.

Borrowing and not paying it back can never be wise. I don't know how it is that someone helped you with a loan, but you ran away without repaying it. A lot of these are seen in the present day, and for these, it is seen that their relationship is destroyed over time. I have seen many times that the only thing responsible for killing a friendship or even a good relationship is the transaction of money. The transaction of funds means lending and borrowing. At first, he takes the money well, but it remains to be seen if he can return it on time. It can be seen that he does not give the money on time, which means he has to go around a lot to withdraw that money; then he says that if the following cash is given to others, how is it that it is seen in the present time and what else?
We have to change our mindset. We have to give back to those who receive money from us. Nothing can be taken from anyone unjustly. Only then will it be seen that some change is coming from here; moreover, there will never be any change.

You want people to become thieves, because at its heart this is what you are proposing and I cannot agree with it, even if I think that bankers are a big part of the problem with the current economy and I consider them to be thieves themselves, it is simply wrong to lower yourself to their level.

So if you do not want to get in trouble and you do not want to pay for the interests generated by a loan, the solution is simple, do not ever ask for a loan and you will never have to worry about this.

This is what happens when you want to be a motivational speaker and you end up confusing yourself and making yourself completely useless to others trying to make a  right point point in a wrong way with wrong explanation. I guess what you are trying to say is that taken a loan is more profitable if we borrow from bank use it to do a profitable business that generates alot of money before returning it. I guess you got your motivation from some Facebook delusional content creators.

You have a wrong perspective about the money, loans and banks themselves. It's a misconception that banks print money from thin air, there are assets that back such money printed so let's stop spreading false information.

I wonder why you would say people should not pay back their loans, have you forgotten that those issuing the loan are running a business? If the business crumbles, what good is that to the economy, and do you believe you can have access to loans again?

From a moral standpoint, it's very wrong, we are obliged to pay what we owe. You actually agree to some Ts&Cs because no lender would give you a loan without that, so you are liable to pay back.

He forgot that the money he borrowed was an obligation that had to be fulfilled, without realizing it, his statement made it difficult for him to translate it correctly for himself. In essence, money taken from the bank is a form of business cooperation, meaning that both parties will get something that is mutually beneficial. Yes, besides that, he also did not realize that trust is an honor for everyone.

Well, well, well! Looks at what we have here. A dude who thinks he is so smart that he is handing out bad advice thinking it's actually good advice. Must say that this is a unique and interesting perspective.

Anyone with a half-decent brain knows that borrowing money and paying it back on time has a plethora of pros, but only if borrowed for proper reasons. Try growing up op.

i have borrowed money from banks several times for my personal business and other many purposes, borrowing money to make profit and pay back with interest on time,
people's get loan for so many purposes because if want to buy a car or buy a flat or business of course you need to borrowing because you can not pay all of money in one installment.

Personally, when I read op's idea of loan I was interested to know the details of what his saying but when he mentioned taking loan and never repay them, I immediately disqualified his idea because there is absolutely no way one should be thinking of bringing down someone else business of loan by taking money and never pay it back, and if he thinks he wants to start business altogether with that loan op should imagine going into a deal with partners and they decides to take his profit and never pay him back. infact the law of karma still exist for people thinking like OP.

People who are very wealthy especially real estate investors borrowed the capitals for the investment but what one must know is you must have a good credit level before you can access such loans and for you to have a good credit score you must have another running assets that can make the bank or any organisation to borrow a good amount of money. But for OP his problem trying to scam anyone who borrows him the money which is looking forward to get which I believe might end up ruining his life if you continues with this mentality.

Where the heck did you got this school of thought because honestly this just some stupid way of dragging ones name to the mud because you won't escape from the long arm of the law as this is just some fraudulent behavior taking loan and not willing to pay back because you think the money belongs to the state and it's been printed from thin air and that gives you a right.

I think taking loan and paying back doesn't make you a loser, rather it makes you a trustworthy person with god repute, and which will open doors to you for more loans in the future as an individual with good loan record.

People that develop the mentality of not wanting to pay back loans are usually those who misuse the loan money making no profitable use of it and as a result they crack up some excuses not to pay back loan. Op is that you?

If the plan and essence borrowing is to get money and not to pay back I don't think anyone will still have the opportunity to borrow money. Instead it is better for those who don't believe in borrowing of money because of the interest involved in it, then it is better to stay away from collecting loan. I know so many who taking a loan don't favour them because of how difficult it is for them to generate more money from the loan money and it seems very difficult to pay back the loan money, people like this should never think of collecting a loan. Their are some people who know how to use loan money to set up good business and they were able to pay back the loan without any struggle.

If loan should be taken it must be for something that can yield good profit but when no profits comes out from losing money it is better for one not to make any attempt to borrow money.

The part you are going is not a good way because someone can see this and pick interest in acting in this manner not towards the bank alone but also individuals because the money they are using are also printed. I have a question for you OP assuming I borrow printed money from you or purchase a product from you on credit and I decided not to pay back because you used printed money to acquired all that which action will take on me and what will you call that act?

I don't know where you come from to know how you do things there, quite right the money are being printed but not as you view it, before any new note are produced they must make sure a replacement of damaged old note, printing money unnecessarily causes inflation.

Op I don't get the exact thing you are saying, if you approach a loan facility, the first thing that should be in your mind is borrowing and I believe that borwing has a repayment terms, are you trying to advise people to default on their own agreement,  I think it bad to do such.
It is funny When you say the money is free for everyone, so are you trying to say bank print money for every one, if this is the case i think banks would have not been involving in different businesses or acquring other asset that can generate money for them, i want you to understand that printing of money has process and it is not as easy as you think, if not countries would have been financially independent, there wouldn't have been borrowing to finance projects in most countries hence they can easily print their own money, op lets get this straight, it is importamt for us to understand this things before we say them because you dont know who is reading that may want to follow what you said, loan are meant to be repayed back because it is an individual or institution business that shouldn't be joked with.

Banks print money out of thin air is a statement I don’t believe in and shouldn’t be preached. You’re just encouraging stealing and anyone that follows your advise will be doomed. Did you work for the money that you want to take loan from and don’t you know that the money you borrowed is the hard work of other people that they kept safe there in the bank for people like you to use for business and bring the profits back. Those are the smarter people, so better work yourself out and become someone like them whom money work for and not them working for the money physically.


OP, you’re just trying to mislead people into doing what will not be beneficial for them. If you’re doing this and it’s working for you, please don’t drag more people into it. What you’re doing is illegal and when the law catch up with you, you’ll be dealt with. Your time, effort and money could be spared for now but the longevity of you getting out of it is not something that’s for sure certain, they’ll catch up with anyone doing such sooner.

Do you think it is so easy to get a loan without any conditions again and again? It is not so easy if you have not done this before then you don't know about it otherwise you don't know about it. They say it is very difficult to get a loan from the banks and even if the banks give a loan, they charge interest on top of that and I don't think you should do anything by taking a loan that you don't see the possibility of a definite profit.

The first thing is that I am not in favor of taking loans because I don't think we can do any business by taking loans because there is no business in which there is only profit and in business, there are chances of loss. Even if we start any work, it cannot be said with certainty that we will profit from it.

The second thing is that if your request is accepted, then you don't have to repay the loan as much as you have taken, you have to pay interest on top of it, and if you understand that only from one bank. It is not possible to take a loan and take a loan from another person and not pay it back and continue your business.

When someone borrows money from a bank, of course they must provide collateral so that the money they want to lend is given by the bank and it is very unlikely that the bank will simply provide funds to someone who wants to take out a loan without any collateral and there are also many requirements that must be met before they can take out a loan from the bank and if they have fulfilled all the requirements given by the bank and they get the loan, of course they must be able to pay the installments properly and if they choose not to pay off their loan installments, of course the bank will auction off the collateral they gave to the bank and it is very unlikely not to pay it and if they still choose not to pay it, of course this will be very detrimental to us because the bank of course issues the loan amount below the collateral that we have given them and if we choose not to pay it, of course this will be detrimental to ourselves.

That's absolutely right, we will even experience a much greater loss if we do not pay the obligations as set by the borrower at the time of the initial agreement. Actually, we have to be observant before choosing to take a loan and also have to have a long-term calculation to be able to turn the money around so that it is not constrained to be able to return it, so I think in terms of taking a loan from a bank we must be able to use it well so that we can return it.

You are getting it all wrong, if an ordinary bank can print money that means nobody would have been poor, however when we talk about the money you see on the banks is actually own by normal individuals like us who have worked very had and decided to store there money in the bank and secondly don't feel that all the banks are own by the government because there are so many banks own by private sectors and they built it through there labour so there is no way you will expect that kind of bank to print money, so actually if you get a loan and refuses to pay of course you will have to face the law and possibly jailed for that. However there is no way a bank will even give you a huge loan without collateral because they will make sure you give them something worth more the amount you borrowed so after then is your choice to pay not, whichever way is a win win for them.

So, you really mean it when you say that we shouldn't pay our loans? Dang. I thought you are only going to say that we shouldn't pay immediately but that made sense. We may not like it but there might still be people who are doing it and I think their main reason is that they are only worried and maybe if they won't do it, they can only use the money in other non-important things.

Another reason would be is that they can borrow a larger amount once they fully paid their current loans. After all, this is fine than defaulting a loan. It won't be called as borrowing if we won't return the money that we borrow.

There are people who thinks that it's only okay if they do that but they shouldn't be confident especially if the money that they have borrowed is huge, as the issuer of money can sue them. If I understand, I think another one that you are saying is to borrow money and use it to pay back another loan. Well, I can agree with you to this, that it was a foolish move. It is like we are only going to get stuck in a loop with this. As for the banks, it is said that they don't print money out of thin air but even if they do, I still don't think that they will give you free money just like that.

Maybe if there is someone who borrows money and has to pay the debt, maybe the term loser is not right, and maybe the method used to pay is not right, because at the end of the day, he will still pay the loan that was borrowed. 

He must have fully paid the previous debt to another person, and the one that will be paid is the debt that was paid. So it means that he has accomplished a debt payment, but literally speaking, the method of payment is not really good; that's the only reason I can see; there is no other reason.

For some people, things like this may be a little strange. but I have also encountered practices like this among several of my acquaintances. Where they make a loan to the bank and initially they pay installments regularly to build their good name in the bank and then they pay it off and then they apply for a much larger loan again. And continue to do so for several rotation cycles. And when the bank begins to place greater trust, the customer borrows again for a much larger amount, even exceeding the price of the goods used as collateral to the bank. And the bank has already put their trust in it and they have approved the loan. And yes, then the customer didn't pay this time and they let the bank confiscate the assets used as collateral. And the customer goes with the money they earn and buys better goods. Be it a house or something. And usually what is used as collateral is the house certificate. And I think this is not a good thing to do. And I think it should be avoided. And it would be better to be a person who lives freely without having to have loans. And even if we have a loan, we must have a sense of responsibility and pay it off as quickly as we can. And after that we have to avoid all things related to loans.

Of course you would really be needing up to pay the loan if you dont really want to put yourself on such big trouble on which we know that when you do took up some loan
then you would really be that obliged or responsible on paying it back and since on the time that you would really be borrowing then you are really that signing some contract.
If you wont really be liking to have those legal issues or problems then you wont really be making yourself putting up on trouble on not to pay those loans.
It would really be just that something having no sense that you would really be telling someone on taking up some loan and not paying it? LOOL @OP.

The things is, that is not your money. It is the money of other people who has entrusted their money with the banks. That is where the banks get their ability to give out loans so you do indeed need to pay it back.
I agree that you should use loans for the greater good but suggesting fraud is not for the greater good. I don’t get this mindset. You will just face criminal charges for this.

Don't do that, you're trying to push yourself away from the incentives and consideration from these banks. You don't know that they're all interrelated and interconnected when it comes to database. Our names can be seen by each of them and records are visible to their naked eyes upon checking the system for the banks and loans. If you think that the other banks won't see you have a credit/loan and you didn't pay it back, it's your end because they know our records and they will know it no matter what. You don't ask to do that for yourself but if you like giving yourself a bad credit and bad reputation, that's all you have to do and you have to thank OP for that.

This is the most funny joke I have ever seen and it is quite surprising to know that their are people that don't even care anymore about loan. It seems you have a string heart when it comes to taking loan and it is quite shocking. I have seen people going to jail because of how hefty the loan they took and they don't wanna pay it back. Although this is not common in most places but I don't think you will be able to get additional loan when you can not settled your previous loan. The bank can come for you and take what belongs to you even though you decided to buy properties in the name of someone else. What if the contrary happens and the person take away your properties due to the same greed.

Do you think the loan has no right to be returned and what kind of loan are you talking about that you dare to say only fools take loans and pay them back. More precisely you are saying the loan is in an unproductive form so that the decision to take the loan is not to develop something more useful for a greater return of money. Understanding loans must be seen from the extent to which someone can develop not spend because most people take loans not for the need to develop a business but to fulfill a lifestyle.

This is the wrong behavior and why poor people remain poor because they think of taking loans to fulfill a lifestyle. While rich people take loans to develop the business they run so that it becomes more developed. This mindset is what causes loans to be negative so that people are unable to see the suitability and need in interpreting a loan.

I can't say this is the most funny joke I have seen, but it's in the top 10. Only fools take loans without a plan of how to pay it back, and when a fool does that he is digging his whole full of problems. How deep the hole will be directly depends on the amount of the loan.

I have many loans behind me, both from banks and from close people, all of which have been repaid nicely and on time. I just couldn't finish very important things without enough money at that moment. Loans are a smart thing if they are used for something good and smart. There are loans with very good terms, but there are also loans with really high interest rates that should be avoided.

How would you feel if you borrowed someone money and they don't pay back put yourself in that position then answer the question, I'm sure you won't accept it from anyone. These people lending out money have their businesses going on they need those monies that they borrowed out , planning not to pay back is very absurd. If you have the intention of not paying back then you don't need that loan, you can just wait patiently for the money you need instead of borrowing money and not refunding

I don’t understand very well but with what I’m reading, is it that you are encouraging people to not pay the money back after taking a loan from banks or what did you mean, if that is what you mean I don’t think you should said that because that is not a good idea, it sounds like a fraud and no matter how you think you are smart you will get into the hands of those who are smarter than you, taking a loan to start a business itself is a risk because to me when you take a loan to start up a business you won’t have a rest of mind to build up your business, all you will be thinking is about what you borrowed and going to pay back.

Taking a loan to start a business is like taking something that doesn’t belong to you to achieve your aims and that is why some people's businesses will not be successful in the end, although some people are very good in business and even when they take a loan they have the way to pay the loan back but some people who don’t know will have to struggle to the extent of the business will want to collapse before they pay, I think taking a loan and paid it out immediately is the pay way to build yourself and thinking if not paying is life stealing what does not belong to you because there is an agreement before the loan is being given to you.

Someone will not be able to run away from paying a bank loan because the borrower's identity has been recorded and reported to the police, unless they lend money to someone without proof of the loan then they may be able to avoid paying the loan back because they think there is no supporting evidence to make a report to the police . However, never have bad intentions of not paying the loan back even if you borrow money from a friend without proof of receipt or other evidence, this will trigger criminal action if the borrower's emotions cannot be controlled because you insist on not paying the loan.

That's absolutely right and I also think that no party gives loans with the possibility of not being returned or without collateral, such as loans to banks all use collateral and we will even lose more if we don't pay it because the collateral we provide will of course be greater than the loan we apply for.

Currently, there are quite a lot of middle and lower class people who use loans unproductively, I think those are stupid and unintelligent people.
Loans should be able to make business easier so that we won't mind paying them later, not the other way around, this is the mindset of many unsuccessful people today who make their lives more difficult with the loans they take.

What are you trying to say that is Good to loan money and don't bother to pay back? Honestly that's not a Smart move just so you know and it'll just keep you in debt and give you a bad name.and you're saying one is fool taking a loan and paying back..

I know you're saying this cause of the high interest rates and all that but that's not how it's suppose to be,you ought to pay back cause not doing so Will disorganize the person's business and plans
To loan or borrow funds is one and payback is usually the problem so it shouldn't seem like it's one's right now to pay back when owing such money,think about it in the other form that it's from you they borrow from and don't pay back how would you feel.

Taking a loan is not a smart way to start a business because you will pay interest and i am sure that the profit from your business will go to interest and not on your pocket, i suggest to borrow to your family if they have extra money without interest and make a business you can only fo it if you have a supportive family, loan is a business and if you take a loan then you are one of a millions, that gives profit to the owner of that loan business.

If the loan is on predatory terms - then I agree, it is foolish to take it, for it is slow suicide.
On the other hand, if credit facilities are available (low interest rate), they will definitely help you, as it is worth taking a loan only to create something that will generate income. And if you are thinking of building a business and you have no money to start it, you can't do without a loan. And yes, when you pay back the loan in your head you think “I took someone else's money, and now I'm giving back my money” :)

If everyone could take a loan from their family members or from friends who wouldn't request an interest, then who would bother going to the bank or other lenders for a loan, but it is very difficult to get a loan from people without interest, often because they do not have the sum you need or they also have to put their money to work.

That being said, taking a loan to start a business is not a bad idea if you have a well thought-out plan of the business you want to do and if the interest rate is low as well as a flexible repayment time. If your business idea is "golden", you might be able to repay the loan from the proceeds of your business and then stand on your own later on.

no one takes a loan willingly but is forced to take it for various reasons such as most of business take loans to good start their business,
they would not have to take loans if they get financial support from their family,
so it's not matter of smart way or not, loan is must be need to a big move in your life,
like you wanna to buy house then you need to loan, you can not pay full amount of money in one day.

Think borrowing from family's a free ride? Think again. Aunt Martha ain't got a bottomless piggy bank. Also, you're holding her cash, which is not okay. Family is great for getting a pizza loan, but not for starting a company. Banks? They are sharks, but they have money. It will cost you money to get the money you need. That's the deal. Low loan rates and flexible terms are great, but they won't help you if your business plan is bad

Don't forget that having a plan is only half the battle. Execution is king. It takes guts, planning, and the ability to change course when things go wrong to execute. No business plan makes it through the first meeting with reality. Yes, dream big. Don't be stupid, though. Plan better, borrow smarter, and act like your life depends on it. Because do you know what? It sort of does

I think it's best to avoid loans with high and outrageous interest rate, going for loans that doesn't add up interest weekly or monthly wouldn't make anyone think of running away and not paying back...micro finance banks palm pay and the rest have a very high interest rate and if you don't pay in a short while the loans will keep increasing and compounding, at the end of the day most people can't keep up with everything and  they eventually run away putting their guarantors in trouble

Financial institutions require collateral for anyone who intends to take out a loan and even then they will not necessarily realize it according to our wishes. Banks have rules regarding loans and they will conduct several surveys before the loan is disbursed and they make decisions after the survey is carried out according to their standards.

Most people pursue a life to be more luxurious so they decide to borrow money. I see many people taking loans to buy cars, build houses or for unproductive needs. Loans will be unproductive when people take them not to be used as capital to develop their business and this pattern is not applied by rich people because they take loans for business development needs or to open other business branches.

i see in my country some people borrowing money from bank to buy cars and flats, those of mostly powerful like politics leader and business man,
they don't pay the loan using their political power, there was not need to taking loan but they taking it illegally, so many such rich people did that in my country, they are corrupted.

I have look into your account and I though you have ranked up otherwise I would have said when you finally get signature and take large loan from this forum, don't pay back rather consult your accountant so you can know the difference between loan on paper and reality that we are facing today. Again, you don't need to called anyone fool for paying loan, I'm very sure someone from your relatives have taking high interest rate and paid back in full(fool);D

The wealthy people you are seeing today that are ontop of forbe list are all enjoying the benefit of loans they take from banks and that's because of their relationship with the banks and even the government. You don't get big loans from anyone without good connections and networking and you will have to pay back as agreed elese you risk selling some part of your company later in the future. That's not how loan works mate.

There are loans actually worth taking, for instance those provided to poor population. In many countries when you're unemployed, you can take a 0% loan, or one with less than 5% interest rate. We had student loans that were 0% interest rate for a few years and then the bank would start adding interest, but if you managed to pay it back in 4 or 5 years, you'd pay nothing, or almost nothing.
Smart people take loans because it gives them capital to do what they want. Imagine taking a 10 year loan and buying bitcoin with it in 2010. ;)

it's very unhealthy to have the mindset that once you've taken a loan that you should never pay it back. It's not as though while applying for a loan you're being forced to do so, you take loans willingly and aggres to the terms and condition that comes with it and should not for any reason refuse paying back when it's due. Rather than assuming that it's foolish to take up a loan and pay it back in full, it's rather foolish to take up a loan and refused paying it back. Just by putting yourself in the person's shoe that you lend money out to someone to help solve the person's problem and he refused paying back when it's due except he's actually not taken up a loan before if not, the collateral and other things like damage to your reputation that comes with defaulting on a loaned amount is enough reason never to refuse paying up for the loans You've taken.

Do you call yourself a good person after drafting this kind of scheme?
How do you see this for a financial advice for anyone to follow?

You’re just telling the rest of us what kind of a person you are, one who isn’t credit worthy and shouldn’t be trusted with anything of value. Your plan is to go through life, taking loans and not pay it back.

Instead, you prefer to have a business or investment set up in someone else’s name. You don’t even see the risk in doing that. Should the person turn out to be a terrible person just as you are, the business or investment is gone. It’s legally registered in the individual’s name, don’t you see that.

People really do come up with ideas that one might think inconceivable and here is one.

Its not really talking about unhealthy but rather this is something which do really shows up on doing that criminal act. Why? Who would really be on their right minds that taking up a loan and never
tend to repay it back on the time that it reached its due? If you would really be doing such thing or stuff then you are really just that basically making yourself getting imprisoned.
We do know that when it comes into this aspect then it would really be always best that you should really be that debt free as much as possible. Although there would really be those instances
that we might not be able to avoid on taking up some loan due to some common circumstances but it would really be always best that we should really be repaying back.

It isnt really talk about being an obligation but rather it do talks about ethically be mindful about on repaying something which you had promised on paying it back.
Doesnt matter about having government or any will be printing out money since this is really that a different concern. It is really just that they are really that dealing up things
on a way that you could really be putting up yourself on such potential trouble.

The author is promoting a fraudulent way of achieving financial stability. I didn't understand what he is trying to say, but from his post, I realized that he may not be in his right mind, and that's why he is sharing such a bad idea with others. I know taking a loan is a tool that can lead you to financial stability, but after taking the loan, how can one refuse to repay it?

If you are not aware of how to take control of your financial system, then don't advise others on such bad things because this is unethical behavior and will increase the crime rate in the region. The wise decision is to take a loan from the bank and put some part of it into a business, and the next portion of those funds should be utilized to support your business. When you reach the point where you can repay the loan, you should do so. But what is the point of taking a loan and then not repaying the bank?

What! I'm trying to understand what I just read, did you just say only fools take loans and pay it back! My thoughts are that your words are misleading and people could get in lots of trouble if they decide to follow that statement, you just don't go misleading people by advising them to take loans and flee away that's a criminal thought and I hope no one takes it very seriously.
 For instance how would you feel if I take loans from you, like your hard earned money and flee away or refuse to pay back? Like you'll applaud me or get me a medal when next I come for another loan right? Makes no sense and do you know how many banks would go bankrupt if everyone takes loans and refuse to pay back, I don't even think the world bank would exist anymore if every country indebted to them refuse to pay up.

I want to believe you knew what you were writing and probably didn't know how to express it properly, cause I see you talking about how money makes money, and how one should use the money to start a business, which is actually correct. Or, you intentionally wrote it in a way that could cause more comments. Whichever, I really do want to believe you know exactly what you wrote. Cause if you really believe that money printed is free and must not be paid back, then you should have been identified as a scammer by now.

Whether it's free or not, it's not yours. Sure, it may be a little un-smart to take money and pay it back immediately when you can actually earn from that money still considering the risk, but not paying back at all is another case on its own.

You borrow, you gamble with your future. Can't pay it back? That's not just a financial screw-up, it's a failure of character. You lacked foresight, you lacked discipline. We live in a world that screams "NOW!" Instant gratification, instant debt. It's a toxic cycle, and it's killing us

Still, loans fuel economies, they help people achieve dreams. It's a double-edged sword. You want to play this game, you better be smart. Understand the risks, understand the rewards. This isn't about avoiding debt, it's about controlling your destiny. Loans test your ethics, your financial IQ. Fail that test, and you lose more than money. You lose your freedom

That only makes sense if you don't NEED a loan. You don't take loan for fun, you do it because you don't have money at the time to make larger neccessary investment fast and you are SURE that you have money to pay it back later. And by investment i don't mean crypto or something, but something neccessary what you NEED fast and what pays itself back and costs more if you don't take the loan.

And what is this "somehow" you are getting the money? How do you get an accountant if you don't have money? What if you can afford accountant and that accountant agrees that you need a loan?

Also saying "banks print money out of thin air, so this money is free for everyone." (which it by definition is not) is just dumb. In that case what would be the harm of taking a loan if it's free for everyone anyway? If it isn't worth anything there's definitely no problem paying it back.

What the OP is saying doesn’t make any sense to me. If you know you can't pay back a loan, then it's better you just don't request for it, and if you think the interest is too high, then you can just talk to whoever is giving you the loan to reduce the interest on it. If you people come to an agreement, then it's fine. But if you don't agree and you think the interest is too high, it's just better you just stay away from the loan, rather than planning to run away with other people’s money, that’s just a criminal act, and not smartness.

There are people that does this in real life, we can see it for example in the forum.
There are high ranked forum members that just let their accounts be tained with red trust and they default on their loan.
If you have a life mantra or some belief about karma and such, you'll never have a good life if you have the intention of loaning and not paying it back.
A person that does this is a parasite to the society.

Whatever point you are trying to make here cannot justify the reason why you shouldn't pay a loan you took from an individual or organization especially when you have that money in your possession, sometimes we blame the government for everything due to how corrupt the leaders are forgetting that we also have to change our mindset so if we ever get that opportunity to rule we won't do the same thing, this is actually a actually portrays you as someone that lacks integrity and people wouldn't want to do business with you

I can relate to what OP's saying, borrowing money with the intention of not multiplying it and just passing back is bad because you end up paying back with interests which is your money every time and everybody the loan sharks, leaving you with nothing but a life of slavery.

I had a friend who borrowed money for her business and pays back in a weekly basis. I advised her to ask the loan company for some time to pay the loan since she's using it for her business so she can multiply it, pay them back and continue her business with the proceeds and make her own money without having to enrich them anymore, she lied to them that she lost money and needs more time to raise their funds, they gave her one month ultimatum to pay back the funds and she took her time, put the money back in her business and made more gains from the compounding effect and increased capital with their money and paid them back within the stipulated period with same interest rate.

She confirmed to me that she didn't have the need to borrow again and her business is running smoothly as she now has enough money to continue.

How can they not pay, isn't the loan binding where everyone who takes it must be paid off by the deadline given or it could be that every month they have to pay installments. The phenomenon in my place is that civil servants take loans to buy cars or build houses and their salaries will be deducted every month for installment fees. This loan pattern is not productive and this sense is not a wise decision to apply because the money is not used to develop something more productive.

But because there is no other choice, most people no longer think about the impact of the loan because the most important thing is that they can buy a car or build a house when they want to take a loan from the bank. This mindset has been practiced in my area and unfortunately they never think about how to make money but take alternatives to meet both needs.

It seems your objective here is to take a loan and don't pay it back you know that there's a law about it and of course there's a sanctions file on the court and even a small claims what you have. It depends on the debt you are trying to do if you are just a person who seeks for the debt just to spend money all over with your leisure you are doing wrong because those are dead end liabilities instead the item you've choose possible makes a quick differ instead those have a good strategy with the debt seeks money to create another asset to give them a good amount of cash flow so once it becomes successful and generating money those earnings from this are the one to use for paying the debt that will onwards become your profit gains.

If you intend to have debt, you should first understand what the advantages and disadvantages are and how we can overcome them so as not to get trapped and in debt. Sometimes this is not well understood, even though we borrow money for a business like you mentioned, we can apply for a loan to the Bank and they will conduct a survey and then the money will be disbursed. However, if you do not have good business experience or are still a beginner, you should never take a loan. If you do not have the ability to do business, never approach debt even a little. Because in my opinion having the ability to do business is the main thing, so it's not just money. Having money but not having any ability at all in business can also be said to be unproductive debt.

Rich people usually take loans to do business because they already have a business, they take loans to develop the business to be bigger or already have experience in business. so it's no wonder that rich people who have debt will actually get richer.

Which country do you come from and what is the loan policy there like. Do people actually take loans without repaying? If yes, what will happen to their collateral? I was thinking you'll say that they should get a lawyer, but I was surprised when you said they should get an accountant. What will an accountant do here?

Loans are used by millionaires to become billionaires. If you are advised by financial experts, you will understand the idea of getting a loan. Please don't near the lending board with this your ideology.

That is a bad example and we all do not need to follow such a bad way and they will definitely feel the consequences of their bad deeds in the future. Because in life we ​​must always see good examples in any sector so that there are always sweeter results that we can feel and I am sure that people like that in your country will also be overthrown by their own people when the people are fed up with their own behavior. But if it is about loans that are not paid because they have certain powers and authorities in the country, it is possible that the bank has indeed been helped by them in certain matters so that the bank can let them take loans without paying them again.

Trying to teach how to do something illegal (or shady at the very best case) is not a good thing for this forum and moderation should be deleting this topic without a doubt. This post is basically saying take the loan, put it in crypto ,bankrupt, get debt free thanks to bankruptcy, and then use the crypto again to get rich without having to pay your loan back, that's illegal.

If this keeps being p, there could be some people who may actually try it and that's not the way we should be going, that's bad and it is not how a decent human being lives.

If you really want to get rich, there is one logical way and that is starting a successful business, if you really want to do that, you can take a loan or save money and do it that way or save some and rest is loan, doesn't matter how. Then you start your business, work hard, do everything well and get rich, sometimes you get rich with that or sometimes you fail and your business goes bankrupt, it doesn't matter.

I believe that we are going to end up with nothing wrong with trying to do it legit way, not everyone gets rich, there isn't enough money to make everyone rich, we just need to make sure that we try to do honest work and nothing more.

In fact, this is not such a bad way, because if someone borrows money to pay off another debt, then this person buys himself time, and also maintains his integrity in front of another person or organization.
Therefore, I do not consider this method so bad. But only on one condition: that at this time this debtor is looking for money (earning it) to pay off all his debts, and not looking for someone who would lend him money, so that this debtor would continue to borrow and pay off money from debts.

I agree with @KingsDen. I mean in what country can someone take a loan, then hire an accountant or consultant and make a report that the debtor is bankrupt when in fact you have hidden the money. Then the Bank or creditor believes your words and they give up on their money. That sounds impossible. As far as I know there are regulations when you borrow funding and usually creditors or investors have a long selection process to determine whether you are eligible for a loan or funding. Creditors such as Banks also ask for collateral that will be auctioned if you fail to repay your loan.

Then who will give you a large loan without a written agreement and collateral included? Nothing comes for free, even when you pee in a public toilet you have to pay. Bankruptcy is an unavoidable risk in a business, this situation is common and you must be someone who does not run away from all responsibilities when the situation is tight. Other people willingly help you by borrowing money that they have collected with great difficulty, and then you plan not to pay it back when you go bankrupt. I think you are the type of person who cannot repay the kindness of others.

Lol, what a dishonest mindset. If you take a loan and don't pay it back you are actually stealing from someone. It's not free money, it's the money from the bank's customers you are borrowing. If you think the lending model offered by banks is unfair and abusive, just don't borrow money from them. Find alternative possibilities of raising funds which don't involve you scamming the lender in the end.

Anyway, people should be careful with you. With that kind of subversive mindset where being honest means to be a loser and to be a scammer means to be smart, it seems people around you will be in constant danger, besides having to be attentive to their pockets...

Totally laughable into this kind of behavior of someone who do really make out some suggestion about taking up some loan but having plans on trying out to not to pay? You are really that putting yourself into some
potential legal issues that you would be facing off specially we are talking about bank transactions on which we know that this would really be that totally easy for you to ran off a certain loan.
You have signed some contracts in regarding on the loan and its term payments. On the moment that you would really be running away then you would be might be having that civil case
and if you wouldnt really be trying out to evade or would be mislead them then it might be ending up on having that criminal case on which it is really that indeed punishable.

The thing that comes up into his mind on why he had made out such advises is that because banks are fucked up.Government  printed out unlimited fiat and thats why
he would really be having those thoughts in mind and giving out some shit advise.  ;D

This is not talking about intention or not because debt should be seen from the extent of its use. In a broader context, debt is not a necessity when someone does not know how to use money because it will only add to the problem. Business must be brave to run and must have the ability to develop, the problem is sometimes people do not have money and vice versa people have money but do not have the skills to develop one of these businesses. That is why I say that loans should be seen as a form of necessity not as a step to fulfill a lifestyle.

The question of the success or failure of a business run using borrowed money comes back to a person's skills and to what extent they have the ability to make the business grow. When someone understands what debt is used for, I am sure taking a loan will be much more responsible for him.

The accountant will help Op to draft how's going to spend the money without repaying back, perhaps!  ;D

It's simple, Op has no single idea about economy and finance per se and that's why he said banks print money out of tin air and encourage people to borrow without making repayment. Even getting a lawyer can not save someone from repaying a loan unless the lawyer is ready to be responsible.

Banks are not the only institution that offers loan to people, there are individuals who engage in such service and you not paying back simply mean you are killing another person's source of income to start your own. Fortunately, lenders in the forum are not foolish to grant loan to newbie accounts. With this mentality, here's an example of those who'll not pay back their loan.

If he takes the loan from a commercial bank or from a legally registered loan firm, he will definitely have to repay the loan because if he doesn't, he will be charged for it and if there was any collateral for that loan, it will be liquidated and he will bear the consequences of his action. The only way he will not be disturbed for the loan is if he keeps repaying the accumulated interest and re-borrow the parent amount.

In terms of borrowing, it is necessary to think about its return, and it is very necessary if it is difficult to return it, you will no longer be able to get the loan you need, and not only that, maybe your name will be blacklisted by the bank or loan company, it is necessary to anticipate all of that before it actually happens.

We have to think twice before deciding to borrow funds from banks and companies because both apply high interest and they set collateral requirements for loan repayment guarantees, most business people often deal with loans because they use them for business needs and they have estimated monthly income to pay off the loan.

I am not very interested in bank and company loans, except for asking for loans from relatives and friends if needed for business needs and emergency needs, but I hope never to borrow from anyone and I will save some of my monthly income for emergency needs.

I see business people who dare to take loans, either to banks or people close to them, have no other choice, sometimes they want to save the business that has been pioneered, and there are also those who want to start their luck to start a new business. In my opinion, borrowing from friends or relatives is a better step, but you still have to have a written agreement, as proof if something unwanted happens in the future. Meanwhile, borrowing from a bank, I think has a very big risk at this time, we really have to make calculations as detailed as possible so that we can pay it off every month. Of course, we also have to see how much interest is set, to asking for solutions if we experience delays in monthly payments. We realize that business competition is currently very tight, and we should not take too big a risk that it can result in loss of collateral.

However, everyone certainly has their own understanding and perspective, as well as a tendency to choose to borrow from a bank or other parties. In essence, it is better to choose the one with a lower risk, because we cannot guarantee that the business we pioneer will progress as expected.

I mean I guess that goes without saying but nowadays, it's a little bit more nuanced than just "borrowing money for investment bad, not good you shouldn't do it bs" cause for instance, if you had to borrow money to fund whatever venture you have, whether it be for investing or whatnot, and you tried your hardest to come up with the capital on your own but just can't, all the while being confident in thinking that doing or going for this venture is the right thing to do, not doing it is going to cost you more than just losing it overall. Cause if you lose the money you used for investment, especially if you borrowed money from a bank, I would presume there are ways you can repay them, but the prospect of losing out on a life-changing sum just cause you were afraid to take the risk is going to eat at you more than the losses you would incur, trust me.

Besides, the rich people does this all the time, and that's what makes them rich, they borrow money from a bank for example, use that money to set up businesses, buildings, you name it, and pay the bank back with the money they owed them, while keeping the business running at the same time. So what makes you think the average joe can't do this shit too?

As a businessman then bank loans would really be your last option if you wont really be able to borrow into those people whom you do know on which into these bank loans where interest is really that low compared into those financing on which their interest per month is really that high which if you do compare it out on banks which usually plays around 0.8%-1.5% basing up on my experience on which its really that too far off
into those financing having that 5% or more.. How much more into those people or lending that having 10-20% per month? You would really be finding yourself getting drowned with debt because you are really just that basically making yourself that paying up those huge interest. As for business man point of view then bank loans would really be able to save you up but we do know that requirements and pre-requisites on getting a bank loan is never been easy. You would really be needing for  yourself to be that get qualified before you would be able to get one.

Everything that do talks about getting a loan and for the sake of making some business expansion or any other related thing then it would really be worth but getting up some loan
just for other non sense purpose then you are really that putting yourself on such potential trouble. How much more into those who doesnt have the plan on repaying those loans?  :P