Is taking a loan/debt addicted ?

[Yamifoud]

The definition of debt is good for emergency purposes or for urgent needs, if taking a loan to cover other loans is not recommended unless the lender asks to pay off the loan before the payment agreement period due to an urgent need, but if you play with loan problems it will harm yourself because you have to pay interest from loans and finally he will not be trusted anymore even if he asks for another loan when he is destitute.

What you are expressing, I think, is very appropriate because if someone borrows money to cover other loans he has taken from different people, then the problem will never be finished in his life and that is not a very good option to do. except as you said, where someone has to immediately pay off all of his old loans because he has been asked by the old borrower. But if it weren't for that, I don't think it would be right to make a new loan to cover his old one

Well, the reality is that it was too easy to get a loan from people but it was to repay it on time. The idea of taking a loan in order to pay another loan is not really the best thing to do as it only multiplies your debts and later on, it totally compromised our finances and it reaches the point that we can't pay them back as it was promised. It was hard to find a solution if we are just reliant on single sources of income. In this case, we need to look for a side hustle otherwise, we can't get out of debt anymore.

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[wmaurik]

Some people are in habit of taking loan. They are used to it and they are so selfish to put other in trouble for their own sake.
I know some people who would find victim to get loan from them and then blackmail them

People like that are very annoying because I usually call people like that are loan sharks who are deliberately looking for people to offer loans for several years and make installment arrangements every month with the interest they have determined. Even though in this case there are some people who are used to taking loans, in the end they will also be very bored with the loan installments that they always have to pay every month.

Well, the reality is that it was too easy to get a loan from people but it was to repay it on time. The idea of taking a loan in order to pay another loan is not really the best thing to do as it only multiplies your debts and later on, it totally compromised our finances and it reaches the point that we can't pay them back as it was promised. It was hard to find a solution if we are just reliant on single sources of income. In this case, we need to look for a side hustle otherwise, we can't get out of debt anymore.

I also think like that because when someone already has multiple debts in his life, of course it will be very difficult for him to get out of the problem even if he tries to solve them one by one at a time. After all, more time will have to be spent on this and he will never find other developments within himself except to only think about paying off existing debts.

[Pamadar]

Well, the reality is that it was too easy to get a loan from people but it was to repay it on time. The idea of taking a loan in order to pay another loan is not really the best thing to do as it only multiplies your debts and later on, it totally compromised our finances and it reaches the point that we can't pay them back as it was promised. It was hard to find a solution if we are just reliant on single sources of income. In this case, we need to look for a side hustle otherwise, we can't get out of debt anymore.

I also think like that because when someone already has multiple debts in his life, of course it will be very difficult for him to get out of the problem even if he tries to solve them one by one at a time. After all, more time will have to be spent on this and he will never find other developments within himself except to only think about paying off existing debts.

He will be stuck from paying and that will be his focus. I mean, for people who know how to pay their debts, they will keep on trying to pay and they will end up adding additional loans when emergency things happened.

It's really not a good idea to keep asking for loans, better to b contented with what you have and not
to aim for something that you can't afford. Be practical and wise to save up spare and limit your finances.

[AnonBitCoiner]

In my opinion taking loan for making more money by using it is wrong idea because if you didn't make profit then how your will return this loan. There are lots of people who takes loan for the purpose of trading so instead of multiplying they lost their own money too so I will guess that never take loan for such purposes as there is no guarantee about its success or decline.

People can addicted with loan taking from another person but they cannot addicted with the loan taking from the bank because bank save the history and they never provides loan again until the costumers return the pervious one.

If you need money and you have taken loan then instead of putting this money into new or other coins which have no future just put it in Bitcoin and leave for some years so in this way you will be able to return loan and also your financial system will be okay after getting benefit from bitcoin when market rises.

[Jody.Drummer]

Well, the reality is that it was too easy to get a loan from people but it was to repay it on time. The idea of taking a loan in order to pay another loan is not really the best thing to do as it only multiplies your debts and later on, it totally compromised our finances and it reaches the point that we can't pay them back as it was promised. It was hard to find a solution if we are just reliant on single sources of income. In this case, we need to look for a side hustle otherwise, we can't get out of debt anymore.

I also think like that because when someone already has multiple debts in his life, of course it will be very difficult for him to get out of the problem even if he tries to solve them one by one at a time. After all, more time will have to be spent on this and he will never find other developments within himself except to only think about paying off existing debts.

He will be stuck from paying and that will be his focus. I mean, for people who know how to pay their debts, they will keep on trying to pay and they will end up adding additional loans when emergency things happened.

It's really not a good idea to keep asking for loans, better to b contented with what you have and not
to aim for something that you can't afford. Be practical and wise to save up spare and limit your finances.

I have a friend who had to separate from his wife because of a loan. I will tell you a little, he (my friend) did not know that his wife was secretly borrowing from one of the cooperatives that provided loans, even though he was actually fine financially, even if he did not borrow, his daily needs could still be met. Now I thought what would make someone take out a loan when he doesn't have to do that? I was wondering whether this has something to do with a person's character (maybe my thoughts are too far). So what do you think about this kind of thing, like I said that actually he's fine even more than enough without having to borrow.

[Flexystar]

Honestly taking loan and addiction has got nothing to do with each other. It’s simple, if you want take the loan then you take it based on your income and repay it. Loan is blessings for those who are not born with silver spoon in their hands for example a guy like me!

I have taken loans 2-3 times but that doesn’t mean I am addicted to it. I had loan because I had some adjustments with my funding for particular stuff. I did repay 2 of them and again took another when we had some renovation to be done and required some extra cash for disbursal. I believe if you use loan system properly then it can help you with your life at certain phases.

[ginsan]

Yes it would be a very self-defeating addiction if someone foolishly took out enough loans to run a business in any category. taking a loan is not a good thing but it depends on how the needs that come to his life.

At my place, many stories have occurred from various people who took loans online, where the interest rates were high, which in the end prevented them from making payments. i really stay away from loan rates for my life even though it is in a crisis which is very important because in that it can lead to severe addiction whenever we face difficult situations in the future.

maybe one good side is saving early for things to come. well, last season during the Covid 19 pandemic, for example, at that time there were many of them out there who were having financial difficulties because of the difficult economic turnaround at that time, so if we have savings that have been saved from a long, that's what we can use for  face such a crisis.

[panganib999]

I personally take loans for two things, personal growth and survival. Personal growth is when I wanted to expand my portfolio, so instead of wasting my money away, I take out loans from banks or whatnot with my investments set as my collateral, and then pay them with eventually. At times I go beyond my budget and are in short of cash, I take out loans from friends and family which I immediately pay as soon as I get a hold of the funds. Thus far I don't think I'm addicted per se but with investments it's become a habit of mine, and as I say even though it's a loan I could pretty much afford paying it tenfold if ever, without ever going under, so I'm good.

[Bushdark]

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

This your explanation looks more critical to me and I don't really think I have evee been in this show before. I have onced borrowed money from friends even from companies and I make sure that I paid back before the due time. I don't like owing people because I see it has a bad omen for me to owe people. Even though I don't have the money to pay, I will always feel guilty of myself and try as much to make sure I paid back and soon as possible. Borrowing is not the best for us but we can do that to solve little problems we  might have that need urgent attention.

[Marcellin9]

Well, the reality is that it was too easy to get a loan from people but it was to repay it on time. The idea of taking a loan in order to pay another loan is not really the best thing to do as it only multiplies your debts and later on, it totally compromised our finances and it reaches the point that we can't pay them back as it was promised. It was hard to find a solution if we are just reliant on single sources of income. In this case, we need to look for a side hustle otherwise, we can't get out of debt anymore.

I also think like that because when someone already has multiple debts in his life, of course it will be very difficult for him to get out of the problem even if he tries to solve them one by one at a time. After all, more time will have to be spent on this and he will never find other developments within himself except to only think about paying off existing debts.

He will be stuck from paying and that will be his focus. I mean, for people who know how to pay their debts, they will keep on trying to pay and they will end up adding additional loans when emergency things happened.

It's really not a good idea to keep asking for loans, better to b contented with what you have and not
to aim for something that you can't afford. Be practical and wise to save up spare and limit your finances.

I have a friend who had to separate from his wife because of a loan. I will tell you a little, he (my friend) did not know that his wife was secretly borrowing from one of the cooperatives that provided loans, even though he was actually fine financially, even if he did not borrow, his daily needs could still be met. Now I thought what would make someone take out a loan when he doesn't have to do that? I was wondering whether this has something to do with a person's character (maybe my thoughts are too far). So what do you think about this kind of thing, like I said that actually he's fine even more than enough without having to borrow.

Well, it is definitely a personality issue with your friend's wife that makse her to borrow money even when she does not really need to do so. This reminds me of a fictional person from the classic American drama Breaking Bad, in which Marie ( Walter White's sister in-law) always loves shoplifting even she got caught up many times. Her husband, Hank, is an DEA agent and surely their income is stable and all daily needs can be met. In reality, I have also seen people like them who are always in love with someting weird or abnormal.

[xSkylarx]

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

This your explanation looks more critical to me and I don't really think I have evee been in this show before. I have onced borrowed money from friends even from companies and I make sure that I paid back before the due time. I don't like owing people because I see it has a bad omen for me to owe people. Even though I don't have the money to pay, I will always feel guilty of myself and try as much to make sure I paid back and soon as possible. Borrowing is not the best for us but we can do that to solve little problems we  might have that need urgent attention.

This is also what I feel, even though it is pretty normal for us to take out loans or borrow money as we need it in our family to purchase things and food. Mostly if you have a family, your salary is intended to cover food and basic needs, and you don't have spare money to buy things like appliances. That is why we need to borrow or take a loan (this mostly applies to people like us who just have enough salary). Though still, it is better to save, even if it is a small amount.

[Xcode7]

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

we will realize this when the problem has come, before when there was an opportunity to take a loan, of course there is confidence in ourselves that it is not difficult to be able to pay it, but it is just a whisper of the devil for us to fall into a vicious circle that cannot be resolved.
there is nothing to do except pay it and walk away from any kind of borrowing or debt.

I've been in debt with low interest to high interest, at first I thought I could get through it but what happened didn't match my expectations, so I decided to sell a little of my assets / savings to cover it all without thinking about the losses I suffered, for me it's not a loss only about money but the problem that keeps popping up in the head is a problem or a loss for yourself.
until finally, until now I don't want to have anything to do with borrowing or interest-bearing debt.

[jokers10]

...
If you need money and you have taken loan then instead of putting this money into new or other coins which have no future just put it in Bitcoin and leave for some years so in this way you will be able to return loan and also your financial system will be okay after getting benefit from bitcoin when market rises.

And who will be paying off a debt during these some years (and usually there some years are all the time you can take a loan for) when you wait until bitcoin will go up? What if during all several years you need to pay off bitcoin rates will be lower than you bought? You will be repaying your debt and see that you could have more just buying with those money all the time? Of course this situation is not what will definitely happen but it could be so. And that's one of a main reasons why a loan for investing is a bad idea.

[ringgo96]

nowadays there are indeed very many money lending services and many people are involved in the problem so a lot of drama occurs you borrowers and the service party, there is even a fight in both of you because it does not go according to the agreement that has been set, for me to solve the problem usually directly tell them the party concerned because they cannot pay on time and usually they always understand and give time to pay off  and they also know that there are certain problems that happen suddenly and our financial problems are constrained.

[TopTort777]

Taking loans and debts might be a tradition. Take a look on the US. Credit cards are used more often than debit cards, credit scores, credit history. I would not say that Americans are addicted to loans. I would say that it is dependable from the place you are. In poor countries loans are the only way to survive. In other places loans is an indicator of trust. I think only few people take loans due to addiction. Probably such people are simply shopaholics.

[Alphakilo]

https://bitcointalk.org/index.php?topic=5437596.0

Taking loan is not a bad option. But it becomes an addiction when you make it a habit. For instance, someone may want to invest in business and dont have money to invest. He can decide to take a loan to invest in a business which will be profitable and viable. I would advice if anyone want to take a loan it should be for investment because it will be very difficult to re-pay a loan that is not profiting and that may cause you to take another loan. But if its for investment, you will be quit assured that even if you dont get the profit as at the time of paying back the loan, you are sure of the initial capital.
So, taking loan is not an addiction.

[paxmao]

Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.

A loan is not a problem. This is one of the thing Kiyosaki got right: There is bad debt and good debt. Debt that makes you poor and debt that makes you rich. I will explain: You take a debt to buy fancy clothes, you wear them for a little while, your debt is there to pay. Bad idea. You buy a basic car to go to work, you finance it and pay with the salaries. Good idea. You finance a property at 2%, refurb and sell it and repay, earning 30% in the process. Very good debt.

[Fesatmas]

Taking loans and debts might be a tradition. Take a look on the US. Credit cards are used more often than debit cards, credit scores, credit history. I would not say that Americans are addicted to loans. I would say that it is dependable from the place you are. In poor countries loans are the only way to survive. In other places loans is an indicator of trust. I think only few people take loans due to addiction. Probably such people are simply shopaholics.

Apart from tradition, the times are also very influential, let's just compare it with the past now, there are many lenders, they even dare to provide loans without collateral. Around me, there are even those who offer door-to-door loans. Maybe people who don't need it won't take a loan, but if there are people who happen to be in need of money at this point, they won't think long about accepting the loan offer. Now we can see the various types of loans.

[erep]

A loan is not a problem. This is one of the thing Kiyosaki got right: There is bad debt and good debt. Debt that makes you poor and debt that makes you rich. I will explain: You take a debt to buy fancy clothes, you wear them for a little while, your debt is there to pay. Bad idea. You buy a basic car to go to work, you finance it and pay with the salaries. Good idea. You finance a property at 2%, refurb and sell it and repay, earning 30% in the process. Very good debt.

You are right, you can apply for a loan based on the purpose of the loan as potentially profitable capital for the long term, but if you need capital for the property business then it requires very large capital and is not recommended for loans because you have to pay high interest costs, you must be able to achieve income. higher than the loan fee every month, so loans are still at high risk even though you have experience in the property business because we don't know if we can build a property business to achieve the targeted profit.

[Joshapat]

Nowadays many people think it is easy to get into debt, even when they have completed 1 debt and then get a debt offer with a greater value, they don't think anymore and immediately take the opportunity, when bad things happen, for example, when they get a sudden need, they can't pay the installments debt so that debt becomes a serious problem.