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

[Davian144]

Loan can be so useful. This depends on what you want to use it for. Most of this successful business man and woman leave on loans. Loan can be taken for business purpose if you have a good means of paying back.

Loans can indeed be very useful if used for business capital with good goals along with long-term development goals for the business. Because someone will not be wrong to make a loan if the goal is for business, but until now there are still a small number of people who also make loans for things that are not a business, so this step is a very wrong step because in the end they will experience more difficulties in their life. Whether it's financial difficulties as before, or difficulties for those who have to pay off loans they've made before.

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[DeathAngel]

Constantly taking out loans is not a good idea. It leads to a never ending cycle of debt as each loan usually comes with interest & fees that need to be paid back. You’ll end up in financial stress with an inability to meet future financial obligations. Relying on loans can ruin long term financial goals such as saving for retirement or purchasing a home. It is important to carefully consider the implications of taking out loans & look for other options before making such decisions.

[xSkylarx]

Loan can be so useful. This depends on what you want to use it for. Most of this successful business man and woman leave on loans. Loan can be taken for business purpose if you have a good means of paying back.

Loans can indeed be very useful if used for business capital with good goals along with long-term development goals for the business. Because someone will not be wrong to make a loan if the goal is for business, but until now there are still a small number of people who also make loans for things that are not a business, so this step is a very wrong step because in the end they will experience more difficulties in their life. Whether it's financial difficulties as before, or difficulties for those who have to pay off loans they've made before.

Though other people have no choice but to take out a loan because they can't buy the things they need, Though I don't say that a loan is good, let's say if you don't take out a loan to buy a laptop or PC, you won't have it unless you are very disciplined to save that amount and buy it in cash (which sometimes I have a hard time with), and others take out a loan to build a house, and they are saying if they don't take a loan, they will die saving their money before they can build a house. Though it is still not that advisable, if, with purpose, you can pay it on a monthly basis, then there is nothing wrong with it.

[Fortify]

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

If you go by what one of the richest men in the world and arguably the best investor in history says, you should avoid taking loans/credit for anything except a low rate long term mortgage - where the value of the asset can actually outweigh the loan over the long term. Besides that, far too many people borrow money when they would be much more responsible if they saved up before buying the thing they want, which will probably depreciate at a much higher rate.

[Yatsan]

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

If you go by what one of the richest men in the world and arguably the best investor in history says, you should avoid taking loans/credit for anything except a low rate long term mortgage - where the value of the asset can actually outweigh the loan over the long term. Besides that, far too many people borrow money when they would be much more responsible if they saved up before buying the thing they want, which will probably depreciate at a much higher rate.

Taking a loan would only be advisable on times or emergency or if you have concrete plan on how would you spend it. First one is given but the second one should be something that will generate profit to hekp you atleast , pay that loan. According to some of my friends who've been into different field of investments, if you have plans then take a loan and create or invest into a profitable investment then let that thing pay your loan for you.  The idea is there but unfortunately not all businesses are working smoothly even with investments ofcourse. Depends on how profitable the investment is but the minimum should be generating an amount that would help  or something which has atleast low risk of losing.

[Mr. Magkaisa]

      -     It's hard to become a habit of debt, because once that happens in your personality, it will lead to addiction and it will be difficult for you to get rid of it. there. It's like the debt will become your chain, believe me.

only do the loan during the time you have an emergency reason. It's not that even if you don't have a reason to borrow or borrow, you'll still do it, it doesn't matter if you use it in a business that can produce money, it's okay.

[lizarder]

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

If a loan is taken only to meet living expenses it will add to the burden, especially if we don't have a steady job to pay off the loan every month. It doesn't matter if someone takes out a loan to support the business they are running because it can be more productive. But we also have to have considerations when deciding to take out a loan, whether the business and business that we are in can develop or not.

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

Today many people have difficulty getting money and taking loans will only make people more problematic. Sometimes certain conditions make people have to take a loan because there is no solution they can do, even though they consciously know that taking a loan is not a solution in such conditions. But conditions force them to do it and many people I know do this because they have no choice.

Without realizing it the life we are living right now is getting out of control and jobs are getting harder for us to get, so that it can affect people in making ends meet. Reasons like these are what make people entangled with loans and the more forced they are, the more difficult it is for them to get out of the problem.

[Juse14]

it all comes back to you personally how do you manage the loan money, if you use all the loan money just to meet your daily needs, then you should never be in debt if you don't want to be miserable later let alone make loans to conventional banks or online loans with interest relatively high. Because it is clear here that your income is proven to be unable to meet your needs, if you are in debt, where do you want to pay the interest and installments while your income is not sufficient, what you need to do is expand your business, not your loan.
Unless you borrow money to increase or expand your business, that's fine because the loan you borrow rolls back so you won't be confused about paying the loan and interest. And it is precisely with this loan that it can be an impetus for the business development agreement that you are doing.

So is it a negative loan or not. it comes back to you personally how you manage the loan, whether it's a short term loan or a long term one.

I agree with your points. Personally, I only take loans when I have to buy something that my family and I needs urgently. I also take loans if an emergency happens and my savings wouldn't be enough to cover it. Lastly, I took a loan for business before and now it is fully paid off. I think it is very vital to ensure that even if we take loans we still have the means to pay it.

Something extraordinary that you have ever done and hopefully this positive thing can continue until the end of your life.

I think it is very vital to ensure that even if we take loans we still have the means to pay it.

So that's what I want to say before we borrow money, we must first think about how you can repay the debt. Because those who lend money just want to know that their money can come back with interest and all that regardless of all your efforts.

And I hope we can all be wiser when we want to make loans

[Raflesia]

Loan can be so useful. This depends on what you want to use it for. Most of this successful business man and woman leave on loans. Loan can be taken for business purpose if you have a good means of paying back.

Loans can indeed be very useful if used for business capital with good goals along with long-term development goals for the business. Because someone will not be wrong to make a loan if the goal is for business, but until now there are still a small number of people who also make loans for things that are not a business, so this step is a very wrong step because in the end they will experience more difficulties in their life. Whether it's financial difficulties as before, or difficulties for those who have to pay off loans they've made before.

Actually, if we look at the context of the loan, I think it depends on how the person making the loan is. for some people, a loan will be good for capital from a business or business being carried out, but for some other people this can also be inconvenient because the purpose of borrowing is only to support ourselves and the rest for us to use for pleasure.

Borrowing money is not an easy thing because if we are not careful with the use of the money we borrow, this can backfire on ourselves.
I personally will not prohibit loans because it is everyone's right, but if indeed we cannot face the consequences of borrowing, then it would be better not to do it.
I myself understand the qualifications that I have, so I better maximize what I have instead of having to try to borrow because I feel that I will not be able to accept the consequences.

[$crypto$]

So that's what I want to say before we borrow money, we must first think about how you can repay the debt. Because those who lend money just want to know that their money can come back with interest and all that regardless of all your efforts.

And I hope we can all be wiser when we want to make loans

The problem with this kind of thing is that we often encounter borrowing first and then thinking about how to pay it when the installment is almost here. At least this happens to me because I often encounter this especially for some of my friends who make loans.
There are so many reasons that we will get just to make it seem as if this is the fault of a difficult economy so that we make loans.

When in fact if we explore further sometimes things like this happen because of our excessive lust for something and when we have a job or monthly income so we are bolder with the assumption that it can be fulfilled and can pay for what we borrow but in the end everything is not that simple.

I agree with what you said because it is wise to do this because you have to think about the risks that we will accept when trying to borrow.

[Russlenat]

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.

Loan can be so useful. This depends on what you want to use it for. Most of this successful business man and woman leave on loans. Loan can be taken for business purpose if you have a good means of paying back.

Yes, they can be useful but definitely not for long term basis. The sad reality if you start to take loans is that you will become more dependent on the money that you will get from your loan, and everytime you have financial emergencies, taking loan will be your first choice without thinking that you can still save at some point to avoid resorting into loans knowing you have a stable job in the first place. It’s like that you become more dependent on your loan to the extent that you are only working just to pay off your loan and its high interest.

[usekevin]

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

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

It’s very sad to hear this news,because the guy was just 23 years.So he is very young person,who live minimum of 60 year.If he not get into loan problem,let his soul get into peace.The first and foremost one is the people should not take loan when they are in need.They should learn to save their money,when they are in need.The money will surely save him,even if their friends and family members failed.The loan collection people should not very rude with the loan people who take loan due to some financial difficulty.

[Fredomago]

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.

Loan can be so useful. This depends on what you want to use it for. Most of this successful business man and woman leave on loans. Loan can be taken for business purpose if you have a good means of paying back.

Yes, they can be useful but definitely not for long term basis. The sad reality if you start to take loans is that you will become more dependent on the money that you will get from your loan, and everytime you have financial emergencies, taking loan will be your first choice without thinking that you can still save at some point to avoid resorting into loans knowing you have a stable job in the first place. It’s like that you become more dependent on your loan to the extent that you are only working just to pay off your loan and its high interest.

And instead of having that mindset, it should be better to reverse it and think about the money and how will you manage to grow it the same manner how business minded people treat their loans, in most cases, those successful business owners even they've got a lot of loans they making sure that they've got passive income generated venues of investment to cover those loans, they will add loans but they first secure that they have enough resources to repay that loan and not just taking it without any future plan on how they can repay everything,

Same concept of same treatment should be inside from those people who are trying to barrow money, though there are many chances that loan is for emergency and we know how hard for minimum earners to repay that money, this might part of the exemptions but still the reality behind.

You barrow that money and it's your obligation to pay, else, you should think deeper before you resort yourself with this option.

[Juse14]

When in fact if we explore further sometimes things like this happen because of our excessive lust for something and when we have a job or monthly income so we are bolder with the assumption that it can be fulfilled and can pay for what we borrow but in the end everything is not that simple.

It is true that sometimes the reason someone borrows is not only based on need, but there are also those based on the mere desire to satisfy lust and this is what we need to avoid. Because it's not uncommon for someone to be willing to take out a loan to watch a concert, for example because they think when they can meet their idol again, even though they can watch via live streaming. Or those who are willing to do luxury car credit with the aim of looking more capable,even though they can buy a regular car or used car with cash without having to take credit.

This ridiculous thing is often done by some people "They prioritize wants over needs and prioritize prestige over function" which in the end will only torture themselves.

  It is important for us to be grateful for what we have without having to compare it with other people "must be ambitious, but we also need to see the situation"

Yes, they can be useful but definitely not for long term basis. The sad reality if you start to take loans is that you will become more dependent on the money that you will get from your loan, and everytime you have financial emergencies, taking loan will be your first choice without thinking that you can still save at some point to avoid resorting into loans knowing you have a stable job in the first place. It’s like that you become more dependent on your loan to the extent that you are only working just to pay off your loan and its high interest.

But there is something worse than that. That is, digging a hole to close the hole is what makes most people make loans continuously. The vicious cycle that never stops, making loans to pay off loans and again this is the most ridiculous thing that has ever been done by some people.

"What must be enlarged is your business, not your loan." Let's think clearly, bro, when you get a loan, it means you get the opportunity to grow your business, so take advantage of this opportunity while there are still people who believe in you.

[fullhdpixel]

When there is no other course of action and you have to expand your capital then taking loan is not a unpleasant aim but if you once loss that amount then taking loan repeatedly in such a need to return back and to make more money then this will become your habit which is surely a bad habit.

If you have 100 percent indemnification regarding any business that you will make more money by investing in business then take loan otherwise avoid loan  as you can.
You are right that taking loan for buying such materials which is not a type of investment like you are buying expensive mobile for yourself for time pass is not good idea but if you are using mobile for online business then you can do it because through online business you will earn lots of money in very short period of time but it will depends on type of business and your efforts.

A lot of people make the mistake of taking loans without any proper plan as to where they will use that and how they will repay it back, they don't have any business plans, and they don't even work or have any source of income that can be used to repay the loan back, so what they do is just take the loan, spend it on themselves and their household needs and when the time reaches for repayment, they sit with their hands on their head worried about how they will repay the loan.

I've also seen a lot of people who take loans only to gamble with them hoping that they will double the money and repay the loan and still have a lot of money left that they can use either on gambling or to buy things and stuff, but they just ignore the fact that gambling will eat the money up and that is exactly what happens.

[WatChe]

Loans can indeed be very useful if used for business capital with good goals along with long-term development goals for the business. Because someone will not be wrong to make a loan if the goal is for business, but until now there are still a small number of people who also make loans for things that are not a business, so this step is a very wrong step because in the end they will experience more difficulties in their life. Whether it's financial difficulties as before, or difficulties for those who have to pay off loans they've made before.

Loans are recommended only for experienced businessmen or someone who is already doing some business. Taking loan to start a business specially from Bank is a big mistake which many immature investors do. As a new business owner your money may struck up for indefinite period of time but Bank or any other lending agency wont wait for there money along with interest. Better to start a business with your own money, the one you can afford to lose.

[Sanitough]

Under these conditions it is natural that many people borrow. But if borrowing continuously is not good. Many debts will only be hit by worries because they have to pay. So in my opinion what must be applied is to be good at managing money. When borrowing, you have to think about the risks first, and when you have your own money, you have to pay it off little by little so as not to accumulate debt, and then don't borrow money again to pay off debts.

Your last point is exactly why a lot of people that are borrowing money finds themselves neck deep in loans. They thought, maybe out of options and pressure to get rid of their loans, that borrowing money from a different lender to pay off their already existing debt will be a good decision. Instead, they only find themselves in a cycle of what seems like a non-stop payment.

The fact that you continue to borrow just to fully paid your first loans, then you are allowing yourself to fall deeply on the trap. This is a very wrong mindset and anyone who keep on doing that will never get rid of loans even after retirement.

It’s never bad to take a loan if the purpose is valid, and you know you can easily pay for it. But if you become too much dependent on it, you are not doing it for a valid purpose anymore, since you tolerate yourself that made yourself the one taken advantaged.

[Quidat]

Under these conditions it is natural that many people borrow. But if borrowing continuously is not good. Many debts will only be hit by worries because they have to pay. So in my opinion what must be applied is to be good at managing money. When borrowing, you have to think about the risks first, and when you have your own money, you have to pay it off little by little so as not to accumulate debt, and then don't borrow money again to pay off debts.

Your last point is exactly why a lot of people that are borrowing money finds themselves neck deep in loans. They thought, maybe out of options and pressure to get rid of their loans, that borrowing money from a different lender to pay off their already existing debt will be a good decision. Instead, they only find themselves in a cycle of what seems like a non-stop payment.

The fact that you continue to borrow just to fully paid your first loans, then you are allowing yourself to fall deeply on the trap. This is a very wrong mindset and anyone who keep on doing that will never get rid of loans even after retirement.

It’s never bad to take a loan if the purpose is valid, and you know you can easily pay for it. But if you become too much dependent on it, you are not doing it for a valid purpose anymore, since you tolerate yourself that made yourself the one taken advantaged.

We are living on a world on which we are really that been shackled by debt considering that economical problems get worst and not all do ends up on having a stable or good paying job and sometimes
there are worst cases and moments on which it do comes into our lives on which it would be the main reason on why we do take up some loan.Its true that it isnt really that bad to have some loans as long you do know that you are capable on paying it off but as much as possible it would really be that wise that you should really be clearing up those things as you could because having debts or loans
is something that not recommendable because it would really be just messing up your entire finances and plans because you do keep on paying up with those interest on which it is something that
you should get to avoid. Doesnt matter whether you are dealing with offline or online loans because the effect would really be just still the same.Paying up loans by new loans? You are just putting
yourself into a bad financial situation on which i have able to experience the same thing wayback because i dont really have no choice when it comes to this.

[mich]

Well I think to carry out a loan on ongoing basis is bad. But it is better to do then to do something illegal.  I believe that I will never do something illegal for many reasons. I do not think I would be setting a good example to my children knowing that I can do everything possible to look and apply for a job to get me out of my financial setback.

But taking a loan is better then risking getting in trouble and going to jail. I can recall the times when I was low on cash and needed money to buy essentials or pay off my monthly rent. I had to reach out to a couple of my friends to help me out with money. And I always do my best to pay them back for helping me. But I do not like to go this on ongoing basis.

[Don Pedro Dinero]

The problem with this is that debt is constantly incentivised by providing payment facilities for everything, which only puts people deeper and deeper into debt.

The fact that you continue to borrow just to fully paid your first loans, then you are allowing yourself to fall deeply on the trap. This is a very wrong mindset and anyone who keep on doing that will never get rid of loans even after retirement.

The most normal thing is that they end up refinancing the house, it is very common. In other words, people who have equity in their house that they have accumulated after years of paying the mortgage, but at the same time they take out personal loans, use their credit cards, finance their furniture, etc. When the time comes when they can no longer pay the loans, they extend the mortgage in order to be able to pay the consumer debts. But this is a temporary solution and if they do not change their habits they will end up going bankrupt,