Bad impact when You carry out Online or Offline Loans on an ongoing basis

[moneystery]

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

I live in a city where the rate of people making loans is quite high until yesterday I heard of a neighbor who was fighting with a debt collector because he was unable to pay but the debt collector belittled the borrower who was unable to pay

- 23-yr old techie dies by suicide due to alleged harassment by online loan recovery agents

There have been many articles written about the bad effects of making online or offline loans what happened in my country that have high interest;
- In Indonesia, ‘pay later’ services leave some drowning in debt
- Under presidential order, Indonesia is at war with online loan sharks

in several articles, there are other options that can be done to avoid what are called online or offline loans that have high interest,
- 8 Ways to Help Family Members in Financial Trouble
- How To Get Out of Debt

you can try to do that from now on before it's too late

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[Wiwo]

Try as much as possible to avoid loans most especially personal loans unless the interest is at 0%, which is impossible to get to this day.

So at that to become financially stable, try as much as possible to avoid taking loans, loans also have their implications and for that, anyone getting involved in loans is also getting into indebtedness.

[icalical]

Just like money in general Debt is not always a bad thing, it only become bad if you are not using it properly. You are taking news from Indonesia and the people mentioned in those news were taking loan from Illegal finance service company. People preferred illegal loan because it lacks background check, but behind those easy loan the interest is brutal.

In my opinion the correct to take a loan, is to deposit money regularly every months into back account, then applied for credit card, there are a lot of credit card that offer 0% interest, just small service fee and processing fee. If someone doesn't even have money to be deposited in the bank, then I don't think they should buy anything the can't afford.

[komisariatku]

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

Debt is something that should not be done unless there is a definite source of income to be able to cover the debt. However, it should be noted that debt is something "ordinary", it is not good if the debtor has no income and is not responsible for his debt.

For people who have loans to illegal loan sources, I have neighbors who are in debt of up to $ 20,000 from illegal online loans. This illegal online loan has very high interest, up to 30% in 1 week. This is illogical and is a fraudulent act committed by a lender so that the debtor cannot pay off his debt.

I think the most important thing is to adjust income with the amount of debt you have, so there is a balance and maybe not bad.

[tabas]

Taking a loan is a double edged sword. It can help you at times you're in dire need but also will also put you into the deepest hole where you will not be able to get out of it. While I do agree that some of these online loan sharks attitude and approach towards their borrowers aren't right. But these borrowers won't get to experience that if they're not going to take any loan from them. Well, it's inevitable and every person is likely to have a source of their loan whether it's with these online apps or someone they know personally or with the banks. As much as possible, don't take a loan that you can't afford to pay. These services are where they're earning through high interest rates. Businessmen know how to maximize the usage of their loans and they're putting a good debt to themselves thus, the vice versa of those that can't.

[adaseb]

This has been happening for years.

Go to the grocery store, they harass you to get a credit card.
Go to a department store like Sears (when it was still around) they harass you to get a Sears card
Go to buy a car, you can’t pay cash, you need to finance a brand new car

Everything is built and supported by debt these days. And these interest rates are really going to hurt a lot of people when it unravels.

[Wexnident]

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

Loans in general are always something you should avoid if possible really. Anything that matters after that is simply because of your inability to pay it. Now I know it is pitiful in some scenarios, but that's just how it is. If there was a group that would support those in debt then great, if not then they can only try to accommodate for their debt by doing everything they can. In the first place, a debt is something you take if you know you can pay for it, if you can't then you 100% need to find an alternative, one where you can pay it off comfortably either by giving your service or something.

While we can't exactly avoid loans sometimes, we can take measures to avoid burdening ourselves with it. It may be hard, but really, look at the bigger picture. You're mostly arguing with humans in the end, I reckon you can buy time to look at what you really need to look at most of the time.

[Poker Player]

In general, debt addiction goes with our times, with the culture of immediacy and "buy now and pay later".

I would say that the best remedy is financial education in general and in general finance in particular, but someone who is already addicted to debt has to hit rock bottom before willingly starting a personal finance plan.

Controlling expenses and income, budgeting, saving for an emergency fund, reducing debt and investing are steps that eventually take one from a stressful financial situation to financial peace.

[killerfrost]

I understand how difficult it can be to be in that situation, but recognizing and taking the risks in the first place to stay sane out of debt is a complicated story. As was the case with myself before, I was forced to mortgage my property to have money to continue spending and orienting my next work, I also thought if I failed, becoming a homeless or beggars is what happens, so it gives me a lot of motivation to try and avoid making mistakes. The abuse of credits to spend for immediate personal purposes is like wearing a chain around your neck, it forces you to make efforts rather than accept the bumps in life, there are many cases like OP mentioned suicide to solve the problem, but before thinking about that think about the life of the people around you, they don't want you to end up like this, keep solving your own problems do not have to create more silence for those around.

[chrisculanag]

To be honest, I have also tried to borrow since the crisis in the country, whether offline or online. So what happened to me was that I was drowning in debt because I didn't have a job, it increased even more until I found something to earn, and I gradually paid it off with the help of my online friends, and I was able to avoid borrowing again. So for those who are planning to take out a loan, you will always think that it will be hard to work and then you will have to pay back the earnings. If what you are going to borrow is for an emergency, why not, but if it is only for personal luxury, it is better not to pursue it further. Many problems are caused by debt, that's what we remember. It hurts us forever if we can't avoid it.

[lovesmayfamilis]

Do not complain about those who want to repay their debt. All responsibility lies with the borrower, and he must always understand where he will need to repay the debt and where to take interest. It is necessary to educate children from childhood so that they understand that borrowing means becoming a slave to the borrower. You need to be able to live on the means that you have and not run ahead of the locomotive if there is no money. Subdue your desires. And if there is a reason to take a loan, then it can be compared with a life problem only in this way.

[bayudndy]

I'm not sure people are in the habit of reading the rules before starting a loan, but we all need to accept the rule from the start and have to do it. But in my opinion, we need to review our personal finances and make sure that you are able to pay off your debt without causing financial hardship. If you're having trouble paying your loan, contact your bank or service provider directly to discuss options for assistance or loan rescheduling. And adjust your daily budget and define reasonable spending goals. Find ways to cut unnecessary expenses and look for ways to save money. It's easy these days to get a loan, but it's also really difficult because limited work makes it difficult for us to get out of debt quickly, so it's not an exaggeration to say that we are slaves of the community money.

[Zlantann]

The best way to handle loans is to do everything possible to avoid it. Accessing loans now is becoming very easy because of technology and people are becoming deeply indebted. Most of the time these loan companies don't expose or tell lenders how the loan will be repaid. The debtor will later find out that there are other hidden charges or interests. Some of these debtors are illiterates and don't have a full understanding of the terms and conditions of the loans. Some of them are exploited by these lending firms until they become frustrated.

I will always advise that except if the loan is needed for business or emergency, there is no need to take them. Taking loans to satisfy avoidable expenses is not ideal. We should learn to live within our income and seek other means of income to cushion the effect of inflation and other economic problems.

[crwth]

I do hope people find a way to pay off their debt someway over the other. Making sure that they are going through the necessary action in order for them to pay what they owe to someone. It's all about discipline and how they are going to make it work.

Eternal debt occurs if you pay a debt with another debt. It's going to be that endless circle that nobody should be in. If you have that kind of situation, you need to read the link posted by OP.

It's really a problem once lives are involved. It's hard to control, but it's better to support someone rather than allow them to do that to themselves.

Try to avoid unnecessary loans if you don't have any good use for it.

[knowngunman]

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

Taking loan is not entirely forbidden because all fingers are not equal and not everybody will have everything but the problem arises when it comes to management. You can not prosper when you take loan to misuse and squander it unnecessarily but taking laon and channel it to a proper way will actually help you and change your financial life.
 
It is advisable to stay away from loan if you can thou but if you can not absolutely stay away due to your means of income, then use it properly when you take one and do good to repay back at agreed time between you and your lender.

[irhact]

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

Loans aren't bad, they can be very helpful when you're in tight corners but we should try o avoid taking loans because it can be as addictive as gambling. When you have an easy way out you won't put effort into what you're doing since you have a backup plan which is indebting yourself. Loans should only be taken when you know you want to invest the loan money into your business that'll generate profits to pay back the loans.

It doesn't matter where you're taking the loan, could be offline or online they still have the same effects. Also when talking loan if there's no other options available to you always take loans that are payable to avoid getting humiliated as you neighbor was humiliated.

[Darker45]

The problem I believe is not that people badly need money so that they're forced to take a loan. The problem is that many people have so much wants, and the thought of having money is really attractive to them because they can then buy their wants with it.

This is at least what I can observe among many people here in my country. In short, this is just a matter of financial education, or lack thereof. A lot of people, at least here in my country, are so financially irresponsible that much of their money goes to wants rather than needs. They don't have a proper sense of priority.

Even among a lot of people I personally know, they are easily attracted to loans. And it's not because they will use the money to invest or start a business or pay something important; it's simply because they can buy the phone they want or a pair of sneakers or they can travel.

[joniboini]

- Under presidential order, Indonesia is at war with online loan sharks

This war is related to unregistered and scammy lenders, not necessarily to make online/P2P lending disappear completely afaik. At the very least, the goal is likely to make the infrastructure more mature so they can regulate online lending properly and stop scammers to collect users data illegally. The eradication of lending with very high interest should be one of its goals too. Not sure when it will happen though, since I get more lending offers lately from obscure platforms that I've never heard before.

[naira]

You are talking about online loans which in fact are not legal in Indonesia, namely not registered with the Financial Services Authority (OJK) so there is no income for the state. Thus causing huge losses, including companies registered with the authorities themselves experiencing a negative impact. Then the community's mistake was to take advantage of loans for bad purposes, namely from the start they sold their personal data and had no intention of paying it off. This is normal and I have seen it in my neighborhood backed up by the statements of many people who do this just to take their money and don't care about the payment system. However, if the loan process is from a company affiliated with the Financial Services Authority, they don't dare to run away and the personal data that has been deposited becomes a reference for the Bank when at any time the person makes a loan. , applying for work automatically the system will reject it because there is a negative track record. from not paying debts.

[Mame89]

maybe many people are taking loans online or offline for various urgent reasons, but keep in mind that the habit of making loans will only get you entangled with what is called eternal debt and the possibility of getting addicted to making loans online or offline

Debt is actually not always bad for our finances, as long as we know how to owe it properly. Debt according to our ability can motivate work, don't go into debt to buy unnecessary things. And one more thing, maybe it's important to try if you really owe a loan to a legal company, because illegal ones usually have high interest.

because for me debt is not a loss if we can really be productive with our debt. we can pay monthly installments and we can make ends meet for our daily needs. I myself have cash but I also have debt for shop capital. Because I believe everyone who does business must have debt. They are in debt for something that is productive or productive and profitable, but with careful calculations too, not haphazardly. so if you intend to go into debt for business or business, you have to really calculate the details. Well.. even if you have a good plan, you can miscalculate or fail, especially without calculations?