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Author Topic: Are loans - part of debts?  (Read 275 times)
Omighty28
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September 10, 2018, 10:07:45 PM
 #21

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?

Don't get it mixed up, loan is a form of debt.. debt is anything that falls on the negative side of your finances, and loan is of them. You got  a house on mortgage, it is debt. You damaged someone's property or you are fined an amount, all these and many more of such are debt. Loan is strictly a form of debt, that comes with an agreement between the Loaner and the debtor. Debt can be incurred any how, but loan comes is born out of consesus between the two parties. Although there are similarities.

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Omighty28
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September 10, 2018, 10:15:06 PM
 #22

Basically, there are  similarities between Debt and Loan. Both are liabilities that need to be paid off. Loan represents an amount borrowed by an individual to meet his/her requirements, where as Debt represents an accumulative amount a person can be borrowing from a lender. It could be confusing to spot the difference between the two terms, cause of this similarity, it is however important to classify Loan as a form of debt for the sake of clarity.

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September 10, 2018, 10:43:52 PM
 #23

I can say that loans are part of debts. Loans are not given for free since they will be payed back in a speculated time and debts are also seen to be settled with immediate effect. 

For me both debts and loans are the same because we are ibligated to pay them back, although loan has a time limit and a debt can be of any form being borrowed, but still they are needed to be settled and paid or returned as promised.
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September 10, 2018, 11:09:33 PM
 #24

I consider loan as debt still, because it is still something to pay back. For me,as long as a borrowed money should pay back it is a debt. Though a loan is something  you borrowed from your own savings but it is still need to be reflenished.
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September 10, 2018, 11:23:55 PM
 #25

two languages ​​are different but the meaning is the same, a little different if the language of debt can be interpreted as having dependents, installments, services and thoughts on people,
if the loan sentence clearly uses something that must be returned in accordance with the agreement.
that's what can differentiate two sentences slightly.

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September 11, 2018, 12:21:15 AM
 #26

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?
Based on what i had read on a site, when we are in financial mess unable to payback the loans we have taken from several lenders, we for  a debt consolidation. The loans and debt are taken together are considered as liability of the company.

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September 11, 2018, 12:46:33 AM
 #27

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?

I agree that it is hard to define and classify between loans and debt. In my understanding, loans means something that given to use and take the advantages of it. And it should be returned back to the owner precise like the first time accept and base on the agreement. When the loan thing is broken, it should be changed by the similar thing and value. In other side, debt giving something to use and take the advantages and it should not return back with the same thing, but only same value. Sometimes we miss understand about the term of loans and debts, both are not similar. For example, sometime people probably say borrowing or lending money. It is not loans but debt because we should not returned back the same money while we borrowed. We just need to return money with same value.

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September 11, 2018, 01:18:28 AM
 #28

yes, what is the difference between borrowing and debt? both are the same. it's just that, when it borrows from the bank, there is an opportunity to pay in installments. but when owed to someone, it is better to pay in cash.

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September 11, 2018, 01:38:38 AM
 #29

Credit and debt can in principle be considered synonymous.One difference is that for the loan you have to pay more interest and for the debt is not.(If, of course, no written contract was signed by a notary).But as a rule, no one makes such contracts with debt

And since there's no contract people taking the advantage to borrow a lot of money, even they knew that they can't pay it all and believing no one can't be in jail for borrowing money but unless if a person already owe huge money like millions, it's consider as estafa and he can be jailed.

If there's money involve, a thing can be consider debt as you have an obligation to pay it no matter what. It's just good to hear that you loan money from bank but technically you owe them and that count to debt.

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September 11, 2018, 01:44:24 AM
 #30

Debt with a loan makes no difference, all must be paid, only the management system is different, I think so bro

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September 11, 2018, 06:44:31 AM
 #31

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?

I think that word is similiar, because the mean of that word is we get money from others for our purpose. And the similiar of both word is we should back the money we get from other people and sometimes with interest


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September 11, 2018, 07:18:29 AM
 #32

Definitely true ,loans are part of debts ,because debts in any part of business especially finances are oblgation to be paid, and the term loans in any kind are required for payments for the use of money, in any forms of loans .

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September 12, 2018, 12:09:39 PM
 #33

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?
All thumbs are fingers however not all fingers are thumbs. Similar story, all loans are debts however not all debts are loans. Loan is when you take out money from someone or a bank and repay in installments however you can have debt like buying something and paying it in installments which means you have debt but no one gave you a loan.

Hence, the two words are different from each other in meaning because if you have a loan that is debt but if you get something but pay later that is also called debt. For example big companies usually get something from a smaller company and give a 45 day check which is a debt on their books but not a loan.

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September 12, 2018, 12:46:16 PM
 #34

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?

debt happens when you owe something and promise to return in a particular time which we call loan,technically loan is also a debt because when you ask for a loan something give it to you and it become a debt.

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September 12, 2018, 01:30:47 PM
 #35

For me debts and loans are similar things. in both the system you are paying interest for getting the cash or money in any way. so i think debts and loan are smiliar.
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September 12, 2018, 02:30:33 PM
 #36

Should we say that loans are borrowed things from a financial institutions which is official because of documents ,or a simple loan from a certain people or group of people engaging in loans, and this are payable things ,so as to debt is also a borrowed thing that needs to be pay ,so it has a similar concept which is to pay later,then loans are part of debts.
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September 13, 2018, 02:49:02 AM
 #37

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?

I guess that debt is just a term used to describe the overall net level of one's finances, while loans are describing individual deals or contracts that are being made which result debt/credit.

A loan obviously constitutes as debt to the party who is actively taking out the loan agreement, and I don't really think that there is going to be that much of a technical difference in some scenarios where you could use both terms interchangeably. Every single debt is technically incurred through one form of a loan or another, what varies is just the terms and length.

Don't think that you can say that loans are a part of debt though. Loans are a form of debt, but not a part of it.

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September 13, 2018, 04:44:03 AM
 #38

Debt is the impact of a loan, if someone borrows an item or money then he is obliged to return it in the same form when he first borrowed or even in the bank system they usually outweigh the first amount of money that he did. The obligation to pay can be referred to as debt, if someone is unable to fulfill and pay off debt, there is a consequence that the day faced by the borrower. Many things must be considered when borrowing money or goods, one of which is someone must have a clear goal when intending to borrow, this will determine whether you can pay or not.

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September 13, 2018, 05:54:42 AM
 #39

For me I think the difference between debt and loan that loans are backed up with agreement papers and bind with legal responsibilities.
While debt can be unofficial  like peer to peer agreement.

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September 13, 2018, 12:21:52 PM
 #40

What about the interest part? As loan consists of interest rates and changes according to the agreement if repaid late or whatsoever terms and conditions, does debt also accrue such interest rates? Most importantly, do debts have any interests levied at all? IMO, debts does not have interest rates added to it as it is given solely for the purpose of helping* someone by availing them the form of help they are in need of (e.g.; money for those who need cash, grocery for those who need food and so on), whereas loan is something that accrues interest rates from the very beginning it is lent (it differs on a case-by-case basis as to what I've observed because people also give 0 interest loans). What I don't understand here is, what's the lender's benefit by giving money for "free" or "interest-free"? 

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