Avoid taking Loans

[Briankimp1]

With the current rate of inflation hitting the entire country which the government has refused to do anything meaningful like increasing the minimum wage to a reasonable amount most people would likely see loans as an opportunity to support their finances, there are many options to get loans from like banks, micro finance institutes and the most dangerous of them all the online loan apps.

Due to life’s problems most of us are pushed to the edge and when we see no other means of getting money we result to taking loans, most times omitting a very important aspect before taking those loans like reading through the payments scheme and understanding the gravity of what we getting into the average interest rate has risen to 38% in 2024 this should be a sign to others aiming to request for loans.

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

[Manlikefrank1]

With the current rate of inflation hitting the entire country which the government has refused to do anything meaningful like increasing the minimum wage to a reasonable amount most people would likely see loans as an opportunity to support their finances, there are many options to get loans from like banks, micro finance institutes and the most dangerous of them all the online loan apps.

Due to life’s problems most of us are pushed to the edge and when we see no other means of getting money we result to taking loans, most times omitting a very important aspect before taking those loans like reading through the payments scheme and understanding the gravity of what we getting into the average interest rate has risen to 38% in 2024 this should be a sign to others aiming to request for loans.

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

Avoid taking loan it’s a good suggestion of life because it help saving of interest rate , preventing financial freedom, protecting credit score, preserving asset and avoiding stress

[Marvelockg]

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

generally speaking, loans are not bad as long as it's used for the right thing. If you see an opportunity that could fetch you a good amount of money and you don't have the financial resource to pull through with it, would you refuse taking loan to seal the deal and allow the opportunity pass you by? Their are times you will take a loan that will only last for two months and invest the money into something that will yield twice the amount you collected and the interest added.

The only time when taking loan is bad is when you're taking it to buy things that can't fetch you anything in return like shoes, cloths or you use the money for unnecessary outing. Their are instances when you can even take up loan purposes o fees yourself nowing that you will receive your pay in weeks to come and it's still okay but the only issue in such scenario would be when you've made it an abit to always go for more the moment you've been able to pay all the old ones.

Nothing is outrightly bad but as long as it is moderate and followed up the right way, the same loan you've taken that enslaved you into paying with all your earnings could be the capital another person used to liberate himself from poverty.

[Kelward]

I no know about dos loan apps wey de give out loans, maybe dem de cheat customers with plenty interests or dem go let you sign wetin you no understand and begin de exploit you later, but if na micro finance banks or regular banks, dem de very straight forward and then go tell you dem terms and conditions.

With my experience for loan matters, I go advice anybody wey wan collect am say make e only be for di purpose of business wey you go do and repay di loan with profit wey you make from di capital, and make you no collect loan to take start a new business. No collect loan take do party or take solve problem, if you no get a sure source of income to repay am. E no de bad to collect loan , because you fit to need money for something important, so far say you get di ability to repay am, but make collecting loan be your last option, lastly if you no get hope of repayment, no go collect am.

[Tmoonz]

 I will say that the motives of taking that loan should be determined first before asking any one not to take loan because there can be certain scenerio where may be taking that loan could just be the last option, you have tried other means and there is no way out you can take the loan after figuring out how you are going to pay back. However, in as much taken loans is not good I can't encourage any one not to take it when it has become a necessity.

[Spaceman1000$]

With the current rate of inflation hitting the entire country which the government has refused to do anything meaningful like increasing the minimum wage to a reasonable amount most people would likely see loans as an opportunity to support their finances, there are many options to get loans from like banks, micro finance institutes and the most dangerous of them all the online loan apps.

Due to life’s problems most of us are pushed to the edge and when we see no other means of getting money we result to taking loans, most times omitting a very important aspect before taking those loans like reading through the payments scheme and understanding the gravity of what we getting into the average interest rate has risen to 38% in 2024 this should be a sign to others aiming to request for loans.

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

Loan in it's entirety is not a bad idea, especially for an individual that wants to take it, what should be expected of you is to make sure you check the interest rate if it's favourable with you, before going ahead to take a loan. However we take loan for a particular purpose, so make sure you executive the project for which you took the loan for, else inflation will certainly sit in and reduce the value of the loan you've collected if you use part of it for something else.

[Proty]

Well as we all know everything in life has it as advantage and disadvantage so taking of loan has it advantage and also it  disadvantage but it will be very bad for u to say or advice someone that taking of loan is bad without knowing why the person wanted to take the loan for .just imagine someone that HV a large farm land and want to venture into commercial farming and bcos of capital he decided to go for loan, will u advice the person not to ? .well for me loan taking is good and is also bad it depends on the motive for it.

[Uhwuchukwu53]

Loan in it's entirety is not a bad idea, especially for an individual that wants to take it, what should be expected of you is to make sure you check the interest rate if it's favourable with you, before going ahead to take a loan. However we take loan for a particular purpose, so make sure you executive the project for which you took the loan for, else inflation will certainly sit in and reduce the value of the loan you've collected if you use part of it for something else.

I agree with you, I am not a party to loan but don't see it as bad one but loan is best taken when you have good job that can cater for it in case of necessity to remit back or best way is to mortgage our income or salary where the effect will not course you much harm.

People don't take loan for pleasure except there is people of such that I Amy not account, those that fully involved in it have one reason or the other for such, just as spaceman has started any loan take it purpose should not be overide or rule out to avoid the consequences of inflation only those that don't know the purpose of a thing can abuse it.

Loan has help many to them that know it value and has also curst sorrow to them that felt let me do as others does without any purpose for it life is two sided the way you choose that work for you may not work for another , my opinion is that who ever that take loan shouldn't take because others take let it's motives be achieved to avoid hard I know at the end.

[KupaCrypto]

With the current rate of inflation hitting the entire country which the government has refused to do anything meaningful like increasing the minimum wage to a reasonable amount most people would likely see loans as an opportunity to support their finances, there are many options to get loans from like banks, micro finance institutes and the most dangerous of them all the online loan apps.

Due to life’s problems most of us are pushed to the edge and when we see no other means of getting money we result to taking loans, most times omitting a very important aspect before taking those loans like reading through the payments scheme and understanding the gravity of what we getting into the average interest rate has risen to 38% in 2024 this should be a sign to others aiming to request for loans.

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

To me this inflation no really they affect business people the way e affect civil servants, bcos most business owners dey Increase the price of goods and services the same way everything they rise for the country, people wey this inflation get direct effect on Na people wey dey work, bcos their salaries are not Increased, still with the same amount of salary they have to cope with the recent inflation of prices,
Taking loans is not bad, wat matters is your purpose for the loan, taking loans for consumptions or buying of liabilities is not good , as no profit will come from it, but taking loans for businesses, buying assets is good , bcos at the end of the day profit is expected.

[Zanab247]

I no say many old members here will not see loan as an opportunity for dem to blow because, dey have many ways dey can hustle to ensure say d money dey want come for dem to invest for a potential projects dat will make dem happy in the future.


One thing those people collecting loan don't understand b dis, once u collected a loan from bank or from person u became totally a slave to dat person or bank because, any day u fail to return d money, your property will b cease at d moment and if na bitcointalk.org u for collect d loan, your account will b in danger because d people u loan d money from we do everything possible to get their money back.

[Barikui1]

With the current rate of inflation hitting the entire country which the government has refused to do anything meaningful like increasing the minimum wage to a reasonable amount most people would likely see loans as an opportunity to support their finances, there are many options to get loans from like banks, micro finance institutes and the most dangerous of them all the online loan apps.

Due to life’s problems most of us are pushed to the edge and when we see no other means of getting money we result to taking loans, most times omitting a very important aspect before taking those loans like reading through the payments scheme and understanding the gravity of what we getting into the average interest rate has risen to 38% in 2024 this should be a sign to others aiming to request for loans.

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

Wetin you dy talk no be lie,  taking loans na one of the terrible decisions wey we dey take, especially bad debt, because these debt na money wey we borrow from someone with the intention of consuming, those types of debt dy really make person hustle backward because as money enter your hand, na to use am service debt you go dy do, and that actions go dy make you enter more debt,  but if na loans with the intention to use make money, e no dy too bad, even though me I dy against am, because e go put you under unnecessary pressure just to meet up deadline to repay the loan, so as for me, I no like anything taking loan, because of the unnecessary pressure wey e go put you under.

[Adams0001]

With the current rate of inflation hitting the entire country which the government has refused to do anything meaningful like increasing the minimum wage to a reasonable amount most people would likely see loans as an opportunity to support their finances, there are many options to get loans from like banks, micro finance institutes and the most dangerous of them all the online loan apps.

Due to life’s problems most of us are pushed to the edge and when we see no other means of getting money we result to taking loans, most times omitting a very important aspect before taking those loans like reading through the payments scheme and understanding the gravity of what we getting into the average interest rate has risen to 38% in 2024 this should be a sign to others aiming to request for loans.

We should try as much as possible to avoid taking any sort of loans especially from these newly created loan apps many of them are actually out to steal from your accounts and are still being investigated please tell someone to tell someone to stay away from loans and taking loans in general.

Wetin you dy talk no be lie,  taking loans na one of the terrible decisions wey we dey take, especially bad debt, because these debt na money wey we borrow from someone with the intention of consuming, those types of debt dy really make person hustle backward because as money enter your hand, na to use am service debt you go dy do, and that actions go dy make you enter more debt,  but if na loans with the intention to use make money, e no dy too bad, even though me I dy against am, because e go put you under unnecessary pressure just to meet up deadline to repay the loan, so as for me, I no like anything taking loan, because of the unnecessary pressure wey e go put you under.

Taking a loan is definitely a poor idea since it may land you in serious trouble if you don't have the money to repay it. That is why, if you want to take a loan, make sure you have something to do that will help you pay the money back when the due date comes.  Some people before rich from getting loans and doing a business that makes them profitable and returns their money back, but some are just taking lad to take a risk in some platform, and whenever the platform crashes, they will started having issues and looking for a why to pay back the loans, and I won't advise anyone to take loans from banks because they don't have any patients and they will do anything they like and put you in shame in public. that is why when you want to take loans from bank you need to have something important that you are 100% sure anytime you debt due you will get and refund back to the bank. if no be hardships were people dey this days waiting go make person go take loans to solve problems.

[Sim_card]

Taking loan is the beginning of your financial downturn, because it will draw your backward, and it will look as if you are working for the people or institution that you are in debted to. Living on debt will not make you stagnant in life alone but it will be like a threat to you, because your debtors are always on your neck. This is why I would not advise anyone to see taking loan as the only way out, because the compounding interest is like a poison that kills slowly. If you are working, it is the same thing because it will affect your up keep.

[Mate2237]

 I don't know why people are interested to increase minimum wage. Okay assuming the State governments agreed to increase the minimum wage. What of you as me? Are we part of the minimum wage plan? We have to think well. When the price of things increase, the federal government provided some palliatives to support the citizens but 99% of the citizens didn't even see the so called palliative and the palliatives didn't solved anything in the country. All those measures were just to calm the citizens but it was not to solve any problem in the country. Politicians even use this period to make enough money.

And the only solution to this problem is to reduce the prices of goods and services then everything will come back to normalcy.