Is taking a loan/debt addicted ?

[$anounimus$]

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.

In my opinion, debt will only solve the problem for a moment, but big problems will arise in the future if we are not able to manage finances properly. There are quite a lot of people I know who are in debt but have had a tremendous impact on their lives.

It is undeniable that everyone, when they really need something that is considered important to expand their business, will definitely apply for a loan at the bank and I think that is normal in the business world.

However, what makes debt a problem is when a person is unable to control his personal needs, for example taking credit at a bank only for consumptive purposes, meaning that he is willing to take on debt just to fulfill a desire, not a need. And of course you can't imagine how to cover the installments with just one source of income, of course it's very burdensome.

[1714241425]

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[1714241425]

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[1714241425]

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[ancafe]

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.

The only reason that makes it difficult for people to manage their finances is to take loans, because people will be involved in new problems after taking these loans, while those who provide loans will do many ways to influence people with the services they offer.

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.

Taking a loan is tantamount to making a problem, if it is used for capital it is also not certain that the business we are in will grow, while we have to deposit monthly expenses every month, regardless of whether our business is growing or not.

At this point taking a loan is not the right step because the community's economic condition is not yet stable, so that it will be increasingly difficult for the community to make a decision to get out of the loan trap.. For people with low incomes, taking loans is not for business needs, but rather for fulfilling a lifestyle to buy some items, at least this is what I found in some of the closest neighborhoods and they are still putting themselves at risk. I think managing finances well is very difficult, but taking out a loan is also not the best solution for some of the people we mean.

[CageMabok]

Taking a loan is tantamount to making a problem, if it is used for capital it is also not certain that the business we are in will grow, while we have to deposit monthly expenses every month, regardless of whether our business is growing or not.

For me, a loan is a debt and debt is indeed a problem that must be repaid according to existing procedures, so making a loan for something in life is something that will indeed put pressure on ourselves. So it would be better if we could still avoid a loan in life, because usually a business built with borrowed money will take a long time to develop. This is caused by business owners who have to provide money to cover debts at the end of the month so that business development will appear slower than those who use their own money that is not tied to a loan.

At this point taking a loan is not the right step because the community's economic condition is not yet stable, so that it will be increasingly difficult for the community to make a decision to get out of the loan trap.. For people with low incomes, taking loans is not for business needs, but rather for fulfilling a lifestyle to buy some items, at least this is what I found in some of the closest neighborhoods and they are still putting themselves at risk. I think managing finances well is very difficult, but taking out a loan is also not the best solution for some of the people we mean.

Those whose income levels are still medium or low will be very poor in paying off loans at this time if their income levels do not increase. Because taking a loan to show a luxurious lifestyle is a mistake, but if they take a loan to grow their business or expand their business network to several different places, I don't think that's wrong as long as their business is more advanced and known by many people. But if you take a loan just to enjoy it without turning it into a business, that is very inappropriate because they will always find it difficult in their lives due to being in debt.

[Marcellin9]

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.

The only reason that makes it difficult for people to manage their finances is to take loans, because people will be involved in new problems after taking these loans, while those who provide loans will do many ways to influence people with the services they offer.

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.

Taking a loan is tantamount to making a problem, if it is used for capital it is also not certain that the business we are in will grow, while we have to deposit monthly expenses every month, regardless of whether our business is growing or not.

At this point taking a loan is not the right step because the community's economic condition is not yet stable, so that it will be increasingly difficult for the community to make a decision to get out of the loan trap.. For people with low incomes, taking loans is not for business needs, but rather for fulfilling a lifestyle to buy some items, at least this is what I found in some of the closest neighborhoods and they are still putting themselves at risk. I think managing finances well is very difficult, but taking out a loan is also not the best solution for some of the people we mean.

Here is an example that is of great value. About two months ago, in the city where I live, a middle aged man was reported to rob a bank nearby my workplace. The police got called and went to the scene quite soon, like within five minutes. It was said that the man was holding a gun so snipers were also prepared to shoot. Unfortunately the negotiation did not go well so the man was shot dead on scene. After that, we heard about the causes of the criminal act. That man had three loans from that bank for business use but due to the unexpected economic conditions, no money was made and that man suffered a severe loss. He was initially going to the bank for a late pay-off talk but that was not successful. Out of enormous pressure from the loans, he just used a gun or knife to threaten a manager. Then that came the story at the beginning. He may be an exception as a murderer in his situation but he is definitely one of the many people who have the same loan problems. What about them ? A loan or debt for business is a good use ? I don't buy it.

[BRINIRHA]

Here is an example that is of great value. About two months ago, in the city where I live, a middle aged man was reported to rob a bank nearby my workplace. The police got called and went to the scene quite soon, like within five minutes. It was said that the man was holding a gun so snipers were also prepared to shoot. Unfortunately the negotiation did not go well so the man was shot dead on scene. After that, we heard about the causes of the criminal act. That man had three loans from that bank for business use but due to the unexpected economic conditions, no money was made and that man suffered a severe loss. He was initially going to the bank for a late pay-off talk but that was not successful. Out of enormous pressure from the loans, he just used a gun or knife to threaten a manager. Then that came the story at the beginning. He may be an exception as a murderer in his situation but he is definitely one of the many people who have the same loan problems. What about them ? A loan or debt for business is a good use ? I don't buy it.

What a very sad story. and this story should be a lesson for all of us to avoid a loan. whether for capital or for other things. unless you are in a position where you have no choice but to borrow. but as much as possible we should avoid it. and the stories of people who are forced to commit crimes we have heard a lot and sometimes behind these crimes it turns out to be due to pressure to pay debts that are due. and the person has no other source of money. so that someone can be reckless to act beyond common sense.

[gabbie2010]

Here is an example that is of great value. About two months ago, in the city where I live, a middle aged man was reported to rob a bank nearby my workplace. The police got called and went to the scene quite soon, like within five minutes. It was said that the man was holding a gun so snipers were also prepared to shoot. Unfortunately the negotiation did not go well so the man was shot dead on scene. After that, we heard about the causes of the criminal act. That man had three loans from that bank for business use but due to the unexpected economic conditions, no money was made and that man suffered a severe loss. He was initially going to the bank for a late pay-off talk but that was not successful. Out of enormous pressure from the loans, he just used a gun or knife to threaten a manager. Then that came the story at the beginning. He may be an exception as a murderer in his situation but he is definitely one of the many people who have the same loan problems. What about them ? A loan or debt for business is a good use ? I don't buy it.

What a very sad story. and this story should be a lesson for all of us to avoid a loan. whether for capital or for other things. unless you are in a position where you have no choice but to borrow. but as much as possible we should avoid it. and the stories of people who are forced to commit crimes we have heard a lot and sometimes behind these crimes it turns out to be due to pressure to pay debts that are due. and the person has no other source of money. so that someone can be reckless to act beyond common sense.

Personally I don't like taking a loan because I knew the multiple effect of defaulting can cause and If it's becomes necessary to take loan I wouldn't obtain huge sum of money. I believe that was the case of the person mentioned above probably his inability to pay on time resulted to massive accruable interest on his loan whose repayment had become a burden, infact I had read a story of another loan defaulter who committed suicide after obtaining a loan from multiple sources and was unable to pay the loan after a failed investment and everything went wrong consequently all the invested funds vanished into thin air

[Fesatmas]

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.

The only reason that makes it difficult for people to manage their finances is to take loans, because people will be involved in new problems after taking these loans, while those who provide loans will do many ways to influence people with the services they offer.

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.

Taking a loan is tantamount to making a problem, if it is used for capital it is also not certain that the business we are in will grow, while we have to deposit monthly expenses every month, regardless of whether our business is growing or not.

At this point taking a loan is not the right step because the community's economic condition is not yet stable, so that it will be increasingly difficult for the community to make a decision to get out of the loan trap.. For people with low incomes, taking loans is not for business needs, but rather for fulfilling a lifestyle to buy some items, at least this is what I found in some of the closest neighborhoods and they are still putting themselves at risk. I think managing finances well is very difficult, but taking out a loan is also not the best solution for some of the people we mean.

Of course, taking a loan is not a solution, instead it creates new problems. How many people ended their lives because they had a loan they couldn't repay? a huge amount. It comes back to ourselves, if we can think long and hard about what will happen in the future with the risk of the loans we take, then we will avoid as much as possible so that we never take loans occasionally. And if we have such thoughts, then we will be stuck in the wrong circle. before doing something we have to think about it carefully.

[jokers10]

...
How many people ended their lives because they had a loan they couldn't repay?
...

It is in many steps from taking a rash loan. Because even if you took it you can try to restructure it with a help of a bank. Even if it didn't help you can go through bankruptcy proceedings, lots of people did so and started a better life after that. Even if it didn't work we can remind ourselves that lots of people live with much less than we have and are still happy. So its not a time for suicide at any time, especially because of any money problems! Of course we should not make even a first step taking a reckless loan but even if we did so everything can be okay if we stop making next silly things at any time.

[Semar Mesem]

In my country there are currently more than many online loan options, even according to financial expert analysis there are around 780 online loans, the majority of whom have no certification from the Finance Council, some time ago there was someone who borrowed more at 50 online loans and total debt of around $ 175K, Surely this is a trend today because of the ease of debt makes a person a lazy and debt addict.

[MoonOfLife]

Here is an example that is of great value. About two months ago, in the city where I live, a middle aged man was reported to rob a bank nearby my workplace. The police got called and went to the scene quite soon, like within five minutes. It was said that the man was holding a gun so snipers were also prepared to shoot. Unfortunately the negotiation did not go well so the man was shot dead on scene. After that, we heard about the causes of the criminal act. That man had three loans from that bank for business use but due to the unexpected economic conditions, no money was made and that man suffered a severe loss. He was initially going to the bank for a late pay-off talk but that was not successful. Out of enormous pressure from the loans, he just used a gun or knife to threaten a manager. Then that came the story at the beginning. He may be an exception as a murderer in his situation but he is definitely one of the many people who have the same loan problems. What about them ? A loan or debt for business is a good use ? I don't buy it.

What a very sad story. and this story should be a lesson for all of us to avoid a loan. whether for capital or for other things. unless you are in a position where you have no choice but to borrow. but as much as possible we should avoid it. and the stories of people who are forced to commit crimes we have heard a lot and sometimes behind these crimes it turns out to be due to pressure to pay debts that are due. and the person has no other source of money. so that someone can be reckless to act beyond common sense.

Personally I don't like taking a loan because I knew the multiple effect of defaulting can cause and If it's becomes necessary to take loan I wouldn't obtain huge sum of money. I believe that was the case of the person mentioned above probably his inability to pay on time resulted to massive accruable interest on his loan whose repayment had become a burden, infact I had read a story of another loan defaulter who committed suicide after obtaining a loan from multiple sources and was unable to pay the loan after a failed investment and everything went wrong consequently all the invested funds vanished into thin air

No one likes to borrow money, but because there is no other way, a lot of people have to borrow money, or things will get worse. I have also borrowed money before because my business failed, it was a terrible time of my life, interest rate pressure, daily expenses. Luckily, I paid off that debt last year and I swore to myself to never take out a loan again.

[Jody.Drummer]

What a very sad story. and this story should be a lesson for all of us to avoid a loan. whether for capital or for other things. unless you are in a position where you have no choice but to borrow. but as much as possible we should avoid it. and the stories of people who are forced to commit crimes we have heard a lot and sometimes behind these crimes it turns out to be due to pressure to pay debts that are due. and the person has no other source of money. so that someone can be reckless to act beyond common sense.

As long as we are able then it is better not to do that. Even though in the end the last option is to borrow, I think that can still be done as long as you don't get too carried away. but the current conditions, mainly reflecting on some who have already done it, when we borrow once and manage to pay it off, the conditions will continue to be carried out because the assumption can still be returned and even with an even bigger loan. Wasn't so naive I used to do that and in the end it just got to be a burden and I stopped doing it.

[LastKiss]

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.

Taking a loan/debt make them addicted because they can't control their emotion to spend the money, many people take debt for buying something useless in their life although not everyone like that. I already see many people doing something like that borrowing from other channels, so it's better if we take a loan/debt we should know our capability to pay it back, and saving money is better rather than taking a loan.

[ancafe]

Those whose income levels are still medium or low will be very poor in paying off loans at this time if their income levels do not increase. Because taking a loan to show a luxurious lifestyle is a mistake, but if they take a loan to grow their business or expand their business network to several different places, I don't think that's wrong as long as their business is more advanced and known by many people. But if you take a loan just to enjoy it without turning it into a business, that is very inappropriate because they will always find it difficult in their lives due to being in debt.

The problem lies in monthly income when someone is forced to take a loan, how is it possible to pay off monthly contributions while the income earned is not stable every month, while monthly contributions are no exception and must be deposited every month. Especially for those who take loans only to meet their needs and lifestyle, this is much worse and very confusing mindset.

In contrast to people who take loans who already have a business that is already running, they take loans as a form of business expansion and additional capital, so the decision to take a loan must have careful consideration and at least if something bad happens they have considerations and choices as steps to be taken to get out of the worst thing.

Here is an example that is of great value. About two months ago, in the city where I live, a middle aged man was reported to rob a bank nearby my workplace. The police got called and went to the scene quite soon, like within five minutes. It was said that the man was holding a gun so snipers were also prepared to shoot. Unfortunately the negotiation did not go well so the man was shot dead on scene. After that, we heard about the causes of the criminal act. That man had three loans from that bank for business use but due to the unexpected economic conditions, no money was made and that man suffered a severe loss. He was initially going to the bank for a late pay-off talk but that was not successful. Out of enormous pressure from the loans, he just used a gun or knife to threaten a manager. Then that came the story at the beginning. He may be an exception as a murderer in his situation but he is definitely one of the many people who have the same loan problems. What about them ? A loan or debt for business is a good use ? I don't buy it.

That's why every decision you make must have planning, both in the long and short term. Taking a loan for business purposes is not a problem, as long as you have a plan for the problems that will arise from the loan. Calculate the ratio of business profits to long-term prospects and after that, just make a calculation of the loan needs, if you have a match and the risk is not too big, then make a decision to take a loan or not.

Taking a loan for a business must also consider a number of basic things, so as not to get a risk for the borrower or the business being managed, because this relates to business continuity and the ability to pay off loans. Many business actors are involved in loans from banks and most have the ability to minimize risk.

[WatChe]

In my opinion, debt will only solve the problem for a moment, but big problems will arise in the future if we are not able to manage finances properly. There are quite a lot of people I know who are in debt but have had a tremendous impact on their lives.

It is undeniable that everyone, when they really need something that is considered important to expand their business, will definitely apply for a loan at the bank and I think that is normal in the business world.

However, what makes debt a problem is when a person is unable to control his personal needs, for example taking credit at a bank only for consumptive purposes, meaning that he is willing to take on debt just to fulfill a desire, not a need. And of course you can't imagine how to cover the installments with just one source of income, of course it's very burdensome.

There are countries that are addicted of taking loans and there economy is entirely dependent on loans from IMF and other donor bodies. In the long run such loans are disastrous for your economy and eventually such economies collapse. The long term solution lies in decreasing your imports and increasing exports and that is only possible when we cut down our demand for luxury imported items. Loans are just a temporary pain killer tablet and not the permanent solution.

[Pamadar]

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.

Taking a loan/debt make them addicted because they can't control their emotion to spend the money, many people take debt for buying something useless in their life although not everyone like that. I already see many people doing something like that borrowing from other channels, so it's better if we take a loan/debt we should know our capability to pay it back, and saving money is better rather than taking a loan.

Yup, such an attitude not to have a good control when spending money pushes people to take loans, and with such kind of overspending they will be forced to continue asking for more to the point that they are unable to pay for it.

If you don't have good limitations in how you will use those loan money, you'll see yourself to continue asking
for additional loans and it put you in a place where you will ask for more.

[jokers10]

No one likes to borrow money, but because there is no other way, a lot of people have to borrow money, or things will get worse. I have also borrowed money before because my business failed, it was a terrible time of my life, interest rate pressure, daily expenses. Luckily, I paid off that debt last year and I swore to myself to never take out a loan again.

I know people who like taking loans and do so all the time. It is about their style of life. And until they do it with full understanding they have no problems with that. I prefer never taking any loans and for me other style of life is comfortable, but it doesn't mean everyone is the same. A friend of friends tool multiple loans until banks stopped giving them to him. Then he tried to avoid communicating with banks, after that he lost cases in courts, then went through bankruptcy. I'd become mad somewhere in the middle of that and he is still okay with all that! So what is possible for him is hardly possible for me, because I'll even hardly start recklessly take loans as he done.

[andriarto]

In my opinion, debt will only solve the problem for a moment, but big problems will arise in the future if we are not able to manage finances properly. There are quite a lot of people I know who are in debt but have had a tremendous impact on their lives.

It is undeniable that everyone, when they really need something that is considered important to expand their business, will definitely apply for a loan at the bank and I think that is normal in the business world.

However, what makes debt a problem is when a person is unable to control his personal needs, for example taking credit at a bank only for consumptive purposes, meaning that he is willing to take on debt just to fulfill a desire, not a need. And of course you can't imagine how to cover the installments with just one source of income, of course it's very burdensome.

There are countries that are addicted of taking loans and there economy is entirely dependent on loans from IMF and other donor bodies. In the long run such loans are disastrous for your economy and eventually such economies collapse. The long term solution lies in decreasing your imports and increasing exports and that is only possible when we cut down our demand for luxury imported items. Loans are just a temporary pain killer tablet and not the permanent solution.

but there is not a single country that does not have debt, and the more advanced the country is, the more debt it has. what makes the difference is the level of debt security to a country. if GDP meets the requirements for taking debt safely I don't think it will be a problem. on the other hand the designation of debt that needs to be questioned. if later the debt has economic value, and will have a greater effect in the future, then debt can be taken into consideration for the development of a country, for example for infrastructure purposes that support the wheels of a country's economy

[Fesatmas]

...
How many people ended their lives because they had a loan they couldn't repay?
...

It is in many steps from taking a rash loan. Because even if you took it you can try to restructure it with a help of a bank. Even if it didn't help you can go through bankruptcy proceedings, lots of people did so and started a better life after that. Even if it didn't work we can remind ourselves that lots of people live with much less than we have and are still happy. So its not a time for suicide at any time, especially because of any money problems! Of course we should not make even a first step taking a reckless loan but even if we did so everything can be okay if we stop making next silly things at any time.

Indeed, there are many ways to improve and pay off debts and live a better life in the future. But not everyone can get through it well, because their mentality will be disturbed if they are in a state like this. They choose to end their lives because maybe they can't stand the pressure anymore and they will surely be embarrassed when many come to their house to collect debts. Money is a sensitive thing in life, because it can happen very fatal things.

[Dickiy]

Indeed, there are many ways to improve and pay off debts and live a better life in the future. But not everyone can get through it well, because their mentality will be disturbed if they are in a state like this. They choose to end their lives because maybe they can't stand the pressure anymore and they will surely be embarrassed when many come to their house to collect debts. Money is a sensitive thing in life, because it can happen very fatal things.

I have witnessed this incident from my neighbor, he is a person who always borrows money, not even just online loans or banks, but many people have borrowed money to cover debts that he could not pay before, and I think this belongs to the category of people who do not pay debts, yes, even though there are many solutions but he can't do that because his mentality and mindset due to debt addiction causes his mindset to be short, and for this incident many parties are harmed and his family has to bear the burden he left behind, while those who have debt on this day who knows where he is.

[DOH!]

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.

I'm actually very afraid of loans because I'm very afraid of debt.  For this situation, I think in any other way or form it is advisable to contact the agreement/interaction negotiation with the borrowing bank or the borrower about your situation.  If there is cooperation should be presented in writing signed for the delay in loan repayment accepted by the creditor.  Before thinking about rotating money, add another place to offset this debt.  Then the cycle goes on and on, which is certainly not a viable and efficient solution.
Next, if it is not possible to negotiate with the borrower's bank/creditor, contact his/her acquaintances/relatives/family friends to help and explain to them in detail.  It will be better than borrowing many other channels just to settle one debt.  On the contrary, it is really difficult to get out of debt