Avoid loan apps, a word of advice.

[KiaKia]

Anything like loan, I don't like it and I will never involve myself to loan because it will not allow me to hold my Bitcoin to achieve my goals. Those days my father use to tell us that lazy people are the ones looking for short cut to become wealthy by collecting loan which is what has brought many people down to zero level.

I don't understand how taking Loan can even make anyone to become wealthy, there are too many examples of people on my country that have took loan and never get them to anywhere.

Taking Loan kills dream, but if you advice people who are new to loans they will think less of you, some will get angry and say that you are trying to block the only way for them to achieve something great.

Millions of people are in debt because of loan, it's bad for business and investment, readers, don't do it if you are still trying to, find other ways to get what you want, loans are dream killers.

[Finebone]

Well, I will not say loan app is good neither will I say is bad. If you look closely, some of this apps has come through for some of us, because their will be a time where you be expecting salary, but the salary is not coming as at the time you needed it, but the only solution at hand is the loan apps, and then you be tempted to borrow money from them, maybe you can repay back when your salary comes. But, the mistake we make is that in a situation whereby we  borrowed and we don't have any means of paying back when is due, please I beg you avoid it, because surely you must face the consequences.

Taking a loan without having any means to pay back the loan is a higher level of irresponsibility and it should be avoided because their will always be repercussions or consequences when you default on your loan.
 I grew up seeing people punished or their property seized because they were unable to pay back the money they borrowed, so it's because of that I don't engage in any loan activity of any kind, because I would rather sell off my property, than taking a loan from an organization like loan apps that would rub your name in the gutters if you defaulted by mistake, even when you still planned on repaying it once you have the money. So if the loan is not coming from a bank, I don't ever consider such loan offers, not because am going to default purposely, but because they would not understand and give you more time if you defaulted due to situations beyond your control.

[GiftedMAN]

Millions of people are in debt because of loan, it's bad for business and investment, readers, don't do it if you are still trying to, find other ways to get what you want, loans are dream killers.

Millions of people are still going into different loan apps to seek for loans when people who are into loans are struggling to get out of it but I think the moment people starts seeing taking loans as the only option then it becomes difficult for them to stop taking loans because they will always be attended to. For investments and other personal use it's risky to go for loans but if it's about expanding a business they is already doing well if the interest is not friendly you still need to run.

[Antotena]

I don't understand how taking Loan can even make anyone to become wealthy, there are too many examples of people on my country that have took loan and never get them to anywhere.

Taking Loan kills dream, but if you advice people who are new to loans they will think less of you, some will get angry and say that you are trying to block the only way for them to achieve something great.

Millions of people are in debt because of loan, it's bad for business and investment, readers, don't do it if you are still trying to, find other ways to get what you want, loans are dream killers.

Why would anyone take loan for making wealth when here is interest on you to pay up and when you decided to default the payment by not paying up on time, you are going to get hook up in the payment trying to pay up money that you don't even have. If you don't have a steady source of income to pay up that money on time, you will be indebted for life. Like you are not going to have anyway to pay up and the interest will be piling up in percentages.

If anyone want to take loan and they don't have means to pay up, they better not take the loan. The only reason to take any loan should be only short term loan, sometimes we get emergency finances that we don't plan for, we also get problems we don't plan for, these are the problems that require loan and even with that problem, make sure you are taking loan for a short period of time, don't take loan that will become a financial mistake, if only people read some terms before they take this loans, I'm sure they will not take it.

[goldkingcoiner]

Over the week, a friend and I had a conversation about loans and loan apps and she shared a bitter experience of how she was unable to write a very important exam because the money meant for payment of fees to qualify for that exam was deducted by a certain loan app that she collected money from a while ago.  Who will you really blame? My friend for not paying up as at when due or the loan app for not notifying her before the deduction.
In all, I advice that we should try to avoid any business with loan apps as they seem to be very numerous these days and are easily accessible. Most importantly, You should know that you are at the danger of developing a habit of borrowing from them if you patronise loan apps even for the smallest amount.

Not just loan apps. Loans should be avoided like the plague in the first place. Most people do not comprehend the kind of hole that they can dig themselves into with no way out when they start carelessy taking out loans, especially if they are unnecessary in the first place... Loan apps are just like the loaners except more ruthless because there is no humanity behind an app.

Your friend learned an important lesson that I hope she will remember next time she thinks about taking a loan.

[Dareo]

Taken loan is it actually bad? The answer for me is no, the truth remain what is the purpose to which loan is been taken and the purpose of that loan compliment, if you take loan without reason or purpose you end up regretting about loan those who know while they take loan and achieve the purpose will always reference you to loan because it's the only access to multitask and solve their problem. You can only know the value of loan when your hit with financial challenge that need urgent attention, where friends and relatives can't be of help then you will know that loan is not bad except taken on wrong motive if it's for investment that brings more income and one can pay back and still have profit loan is a way of widden one financial capabilities while paying back after achieving that very pursuit.

Loans are like tools to me, it is all about how you use them, good or bad. Borrowing is easy but the burden to pay is long term, with the right plan and purpose loans can often create opportunities particularly when used to invest or in case of an emergency. You must not only look at the possibility of making a profit but you must look at the worst case scenario, In my opinion loans are only right when you are certain that you can handle it, otherwise it can easily become a burden.

[Fortify]

Over the week, a friend and I had a conversation about loans and loan apps and she shared a bitter experience of how she was unable to write a very important exam because the money meant for payment of fees to qualify for that exam was deducted by a certain loan app that she collected money from a while ago.  Who will you really blame? My friend for not paying up as at when due or the loan app for not notifying her before the deduction.
In all, I advice that we should try to avoid any business with loan apps as they seem to be very numerous these days and are easily accessible. Most importantly, You should know that you are at the danger of developing a habit of borrowing from them if you patronise loan apps even for the smallest amount.

Its good to always warn people off taking high interest loans, but we can also be too quick to say these loan companies are vultures when people are often very quick to take the money and will breeze over the terms to get it. I've been guilty of this in the past, where the fixation of getting your hands on the money means you are willing to skip past pages and pages of important documentation, outlining extortionately expensive charges just to get it into your bank account. Are these companies that to blame, when it's often driven by our demands and lack of self control - if one company does not give you what you want, you keep moving on until you get to one that does - it's a very nice expensive lifestyle to lead.

[Mr Reporter]

Millions of people are in debt because of loan, it's bad for business and investment, readers, don't do it if you are still trying to, find other ways to get what you want, loans are dream killers.

Millions of people are still going into different loan apps to seek for loans when people who are into loans are struggling to get out of it but I think the moment people starts seeing taking loans as the only option then it becomes difficult for them to stop taking loans because they will always be attended to. For investments and other personal use it's risky to go for loans but if it's about expanding a business they is already doing well if the interest is not friendly you still need to run.

This is to show you that where more loan app keeps getting worse and keeps scamming people and this guys keeps reason no what there are doing keep bring Lon apps on ground…the correct of the time of mine…and sometimes it just how do someone comfortable about their loan own personal it really said some things…and the correct truth about it is that it take a preson down…

[junder]

I myself have a diverse circle of friends some steer clear of loan apps, while others are deeply involved with them some even accumulating debts in the millions.

The mistake my friend made was borrowing from another app to pay off a debt from a previous one this is what’s known as “digging one hole to fill another.” Obviously, this approach to covering debts is not the right one as it involves a new lender using the same methods, which will only complicate his life further.

I’m convinced that someone who has taken out a loan once is highly likely to do it again. Even though the intention behind these apps is to help if we misuse them, problems will inevitably arise.

[Soldroplet]

Loan is if I can repay the loan on time by myself but there is no point in it. But if I do not repay the loan then I will face various dangers. The person who gave me the loan will try to trap me in various ways and the debt burden will only increase. And if that happens in loan apps then there is no end to the problems.

Now let's come to the point, currently loan apps have more bad points. When I take a loan from them, one thing comes to their mind that how can I burden it with more debt. And if I can't repay the loan, they will threaten me with various threats, access to my phone, access to contact numbers, camera access, microphone access, that's their main plan.

When they gave the loan, they took everything from the mobile phone and if you took the loan through the KYC process, they will try to put you in a lot of danger by using that biodata. So everyone be careful and avoid loan apps.

And you can never invest in Bitcoin with borrowed money, so refrain from this process completely.

[GrafMonteKristo]

You should use loan apps only when you need money urgently. The fees usually are really high and the interests are what makes it hard for people to pay off their debts.

[Stormisover]

You should use loan apps only when you need money urgently. The fees usually are really high and the interests are what makes it hard for people to pay off their debts.

Not all loan app interest rate that are high and the reason why most people find it difficult to pay off is when the loan has become over due for repayment, I have seen people who intentionally decides not to pay off their loan thinking they can just get away with it and when this is been ignored for too long it accumulates to the point where it is becomes a story that touches the heart, those owners of the loan apps are very much intentional about their business it is people making use of it that is abusing it, one of those apps has help me sometime ago and I paid back with gratitude.

[DYOR+BTC]

You should use loan apps only when you need money urgently. The fees usually are really high and the interests are what makes it hard for people to pay off their debts.

Not all loan app interest rate that are high and the reason why most people find it difficult to pay off is when the loan has become over due for repayment, I have seen people who intentionally decides not to pay off their loan thinking they can just get away with it and when this is been ignored for too long it accumulates to the point where it is becomes a story that touches the heart, those owners of the loan apps are very much intentional about their business it is people making use of it that is abusing it, one of those apps has help me sometime ago and I paid back with gratitude.

People internationally makes decisions not to pay the loan apps they are owing is like a normal thing without  any serious consign because they believe apart from calls the loan apps will do nothing to them. Taking loans is one simple thing,  the main challenge is having the mind to payback loans especially when the person you are owing can't find you but only calls and sending the complaints to the appropriate bodies. I disagree with this idea of not paying loans, the loan app helped in times of need and should be reciprocated in same good mind when the time for payment comes.

[imthegreat]

You should use loan apps only when you need money urgently. The fees usually are really high and the interests are what makes it hard for people to pay off their debts.

In the country where I live, one in three people is heavily in debt, and as a result, many people live in constant debt repayment mode, often even borrowing money from family members to cover their debts. They live in an endless cycle of debt, and I can't imagine how it must feel to wake up every morning thinking about your debts. Many people even live from paycheck to paycheck without any debt. and some people manage to accumulate large amounts of money by using smart investment strategies. Everyone is different, and everyone has their own vision of life and how to spend money.

[GiftedMAN]

Not all loan app interest rate that are high and the reason why most people find it difficult to pay off is when the loan has become over due for repayment, I have seen people who intentionally decides not to pay off their loan thinking they can just get away with it and when this is been ignored for too long it accumulates to the point where it is becomes a story that touches the heart, those owners of the loan apps are very much intentional about their business it is people making use of it that is abusing it, one of those apps has help me sometime ago and I paid back with gratitude.

People who take loans and refuse to pay so not do that because the interest is much they refuse to pay because they have some criminal mindset because if the interest is much they shouldn't have taken the loans in the first place. Some people abandon the app after taking the loan just to escape paying back the amount they borrowed but if you are in a country that has all your details linked to all your bank accounts you already know what will become of you if you don't pay it as it accumulates wish time.

[ejikeme24]

Millions of people are in debt because of loan, it's bad for business and investment, readers, don't do it if you are still trying to, find other ways to get what you want, loans are dream killers.

Millions of people are still going into different loan apps to seek for loans when people who are into loans are struggling to get out of it but I think the moment people starts seeing taking loans as the only option then it becomes difficult for them to stop taking loans because they will always be attended to. For investments and other personal use it's risky to go for loans but if it's about expanding a business they is already doing well if the interest is not friendly you still need to run.

Even though the awesomeness is been sprayed all over the internet yet some people will not listen, I have come to observe that this loan application is making some people to become lazy, because instead of going out to struggle and get money to solve whatever it is that they  would like to solve they will prefer taking loan from any of this loan application and then sit back, and the problem about most people is that they don't even bother to pay back after taking the loan, and the way people are going for loan is not how it is supposed to be because they are just abusing it.

[Renampun]

You should use loan apps only when you need money urgently. The fees usually are really high and the interests are what makes it hard for people to pay off their debts.

I even prefer to sell my things compared to borrowing money from loan applications, because apart from the interest and other costs which are very burdensome, if you don't have more income, in the end you will  just keep digging yourself deeper into debt, that will end up getting swollen and making you difficult. so it's best to avoid borrowing from loan applications, even though the convenience they offer is very good, you never really know what you're getting yourself into.

[abhiseshakana]

Loans are like tools to me, it is all about how you use them, good or bad. Borrowing is easy but the burden to pay is long term, with the right plan and purpose loans can often create opportunities particularly when used to invest or in case of an emergency. You must not only look at the possibility of making a profit but you must look at the worst case scenario, In my opinion loans are only right when you are certain that you can handle it, otherwise it can easily become a burden.

Based on my own experience i prefer focus on surviving than fast growth. I ever experienced too aggressive at one moment which caused my unhealthy financial condition. Productive debt is good are marketing words to make us dare to take debt for investment with a wish can speed up money acumulation (note : in ideal condition). Practically we often face overconfidence bias or act like an expert when we are still beginner and finally we create story that reality is far from business projection. When we take debt for investment, there are two door we are open limitation of profits and fatal for downside, on this position bigger leverage bring bigger fail effect, so productive not always secure, we must have stong high risk management competence because business can be fail, property can be empty, market sometimes unpredictable and unexpected cost coming. I prefer zero debt or only use debt for life or death healthy matter.

If somebody insist to take productive debt for investment i will suggest to ensure healthy stable cashflow, has liquid emergency fund, well understanding on worst case, no all in with investment using debt, and do not FOMO.

[Bitcoin.com97]

I really don’t advise anyone to borrow money from loan app unless is very important, loan app are the worst set of people to borrow money from,  it’s unhealthy to borrow , the moment you borrow and unable to pay back because of one or two , they began to call you to glory , I heard a terrible experience with them, which I can’t imagine myself in such situations again, I rather sell my property to sort out my bills than to borrow from loan app , I just realized so many person are in debt, many live by debt we should avoid some certain things which borrowing is part of it .

[puloweh555]

Taken loan is it actually bad? The answer for me is no, the truth remain what is the purpose to which loan is been taken and the purpose of that loan compliment, if you take loan without reason or purpose you end up regretting about loan those who know while they take loan and achieve the purpose will always reference you to loan because it's the only access to multitask and solve their problem. You can only know the value of loan when your hit with financial challenge that need urgent attention, where friends and relatives can't be of help then you will know that loan is not bad except taken on wrong motive if it's for investment that brings more income and one can pay back and still have profit loan is a way of widden one financial capabilities while paying back after achieving that very pursuit.

Loans are like tools to me, it is all about how you use them, good or bad. Borrowing is easy but the burden to pay is long term, with the right plan and purpose loans can often create opportunities particularly when used to invest or in case of an emergency. You must not only look at the possibility of making a profit but you must look at the worst case scenario, In my opinion loans are only right when you are certain that you can handle it, otherwise it can easily become a burden.

Yes, it's true. Debt is a double edged sword in certain circumstances. If used correctly money can be a tool for building wealth. But debt for consumer goods can be a heavy burden that will destroy your finances in the long term. We must have this principle wherever we are in life Prioritize needs over wants.

You must be able to distinguish between what can be postponed what must be fulfilled immediately, and what can build wealth and what cannot. So, adjust it to your financial knowledge and current capabilities. If finances are limited don't force it to appear capable of investing, starting a business or other activities. Even debt for productive purposes can't be haphazard you must truly be capable. And always remember that delaying doesn't mean you've failed sometimes it's the best way to maintain financial sanity. It's better to go slowly but remain stable than to try to go quickly but be fragile.