It's not smart to borrow funds and Pay back

[Wexnident]

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I agree with the money makes money part but you still gotta pay your loans though? Pretty sure the point of taking a loan is to create something, whether it be a service, product or whatever,  and manage it well to the point where the ROI of that something is above the interest that the debt is under in. At least that's what I know when it comes to borrowing money for business.

There's also how the rich use it where they pretty much avoid taxes by using loans instead,but pretty sure that's not what you're talking about OP. Imagine assuming you're building credit history when you're not even paying the loans lol, gl getting more. Not to mention some collateral is most likely involved as well in cases of big loans.

[kryptqnick]

I come from a culture where borrowing is considered risky and highly undesirable. Taking a loan and not paying it back is even worse because that is basically a crime in most cases, and that can get a person in serious trouble. So I think it's better not to take loans, but loans that are taken must be paid back. Alternatively, you can borrow on collateral, and then have the collateral taken instead of having to pay back the loan. That can be a useful strategy in some countries and some situations, where you're only borrowing because you want to avoid paying the sales tax.

[yhiaali3]

Is this a lesson in immorality and circumventing the law?

Even if I am against banks and their entire system and I know that they create money out of nothing and are based on debt and so on, but I will not accept in any way to take a loan without paying it back, this is theft and has no other name.

If these are your thoughts and beliefs, you should not spread them among people because it will cause chaos in society and you may find yourself in prison one day.

[Zoomic]

if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.

Imagine a situation where people keep borrowing and borrowing without paying back because the money is free for everyone and the banks too on their part keeps replacing those money borrowed by printing more and more money out of thin air. There will be too much money in circulation and this will result in the devaluation of the currency thereby leading to inflation.

The after result of inflation will mean a higher cost of living for everyone where so much money is used to purchase fewer items if there are not much supplies to meet the demands of the people. This will definitely not be favourable to everyone.  Therefore, before anyone thinks of borrowing without paying back, they should consider also the negative consequences of the actions they intend to take.

In my country, it is a crime to borrow and not pay back. Therefore I will not advice anyone to do such.

[Mame89]

Maybe what you mean is don't take a loan to pay off an old loan, this is indeed a mistake. If we take a loan, then we must pay the loan from the proceeds of the loan. For example, if we take a loan for a business, then to pay off the loan, use the proceeds of the business. If so, it means we have taken a smart loan.
However, if you mean taking a loan but not having to pay it back is the worst thing, because every loan must be paid back, if you are unable to pay it back, it is better to stay away from debt. Basically, debt is good if it is used for productive things, but if we go into debt for consumptive things, it is a stupid act that we should all avoid.

[Alpha Marine]

These days you can't just take a loan from a company or individual without collateral. There has to be something you have to show that you can pay back the loan so if you go bankrupt it means you can no longer operate your business and therefore you can't pay back the loan so the collateral would be sold off and your debt will be paid.

Aside from the fact that what you're advising is illegal, it doesn't work most of the time. When you declare bankruptcy, there are process the courts follows and makes sure all credits are paid even if they cannot get the full amount of the money they're owed.

You also said only a fool will borrow money to pay back, that's so laughable. The right thing to say is borrowing money for consumption is wrong, especially as a business. As a business, money should be borrowed for investment. Before taking the loan, you should have analysed to see how much you'll make from that loan and how you can pay it back. The money used to pay the loan should come from the investment of that loan. You can't take a loan and pay it back from something else, that way you'll run at a loss.

[memehunter]

especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back.

[Mr. Magkaisa]

       -      It is not a good habit to borrow money and then make the borrower pay back what you owe to other people. In this way, many people get into debt. Only stupid people do this. I know many people who do this, so they are slaves to debt, and they have chained it to their lives.

But I once did that. I took a loan, and I used what I loaned to a small traditional business here in our area, and by the grace of God, it has been existing for more than a year. It has continued to operate the business here and has paid, so I am in debt.

[CageMabok]

Maybe what you mean is don't take a loan to pay off an old loan, this is indeed a mistake. If we take a loan, then we must pay the loan from the proceeds of the loan. For example, if we take a loan for a business, then to pay off the loan, use the proceeds of the business. If so, it means we have taken a smart loan.
However, if you mean taking a loan but not having to pay it back is the worst thing, because every loan must be paid back, if you are unable to pay it back, it is better to stay away from debt. Basically, debt is good if it is used for productive things, but if we go into debt for consumptive things, it is a stupid act that we should all avoid.

What you suggest is actually quite reasonable for everyone to understand, especially for people who like to make loans for something. Because loans in any form will be more useful and good if they can be used for productive things that can bring in more money so that it can make it easier for the person who borrows to pay off their loan without having to dodge it with various reasons. But if you borrow with the intention of not paying it back because all the proceeds from the loan are used for consumptive things, it is better not to do something stupid like that because the consequences will be very bad.

[slapper]

You are ruining the whole system when you borrow money without intending to pay it back, not only the lender. You're helping to create a society in which the consequences are real and financial responsibility is laughed at. Honest people wind up paying more interest; the whole lending system gets tighter, which makes credit more difficult for everyone to obtain. You will gain temporarily, while everyone else loses long term.

What does it say about you when you start a company specifically to evade debt? Real wealth is about realizing the ability of money to generate value, not about manipulating the system. It's about supporting the economy, developing a reputation, and making meaningful investments in items that count. You create true riches in your character and your community as well as in your bank account.

Thus, stop trying to fool the system and begin to play the game as advised. Make wise, moral financial decisions to see how much more lasting and rewarding your success will be.

[m2017]

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

Credit / loan is also one of the financial instruments, which can't be bad or good, but only the inability to use this instrument. If the credit is used to buy a new iPhone or MacBook, this is an unwise decision, but if these devices are used to earn money that will allow you to earn more than your credit and interest, then this is certainly a very reasonable decision.

"It's not smart to borrow funds and Pay back" - It's much more profitable to never pay back debts / loans (as most people around you do)

[retreat]

Basically what you are saying is like telling people to commit crimes, because if you have a debt, then it is your obligation to pay it back - avoiding or running away from that debt is like running away from your responsibility. For example, if someone borrows from you, do you let them run away from their responsibility? Likewise, banks will not let you run away from your responsibility to pay it, regardless of where they get the money for your loan is none of your business, the most important thing is that when someone borrows money they have to pay their obligations without any reason.

[Eternad]

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.

Are even serious with this post or suggestion because you clearly suggesting to estafa a bank or person who will lend you money. Not all borrowers main purpose of loan is for business because loan has different purpose and some people use it for important expenses such as housing loan, medical expenses and other things that needed badly while their funds is insufficient for that time.

It’s normal to payback a loan after you use it to your emergency expenses or else you will face jail time or consistent building up interest rate.

Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

This is the right strategy for loan intended for business not a general rule for loaning.

[avp2306]

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.
Money makes money so with this money you can set up the real honest business or to set up next business on other person name keep money flowing then build some credit history and take new loan.
That's the smart way and your time efforts getting paid and you make atleast something out of it.

Taking loan will only be wrong if you use it to buy liabilities or those gadgets where you can earn good returns. With these cases we can agree that borrowing funds is not smart decision to do.

But if you are for building up your business because this is already and you don't have enough funds then provably those loaned amount is truly helpful for the side of those businessman who aims for growth.

That's why for other they should not get afraid to take some loan as long as this is intended for good used also as long as it can benefit them for long term and for sure that everything is fine about those decisions they do.

But don't suggest about taking loan then don't pay it back since its bad attitude since everyone should pay their responsibilities on where they take those money.

[Stable090]

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.

You are encouraging people to go and steal because if you are requesting for a loan with the intention of not paying it back, then you are planning to steal from the person, which isn’t making any sense. If you know you can’t pay back the loan or you think the interest is too high, then it’s just better you don’t take the loan rather than take it and not pay it back, that’s just a criminal act, which doesn’t make sense.
 
Money is free, but you have to work before you get it. Any amount of money that belongs to you is your money, and it’s a free money to you. But if you request a loan from someone, then the money is not your own, so if you are granted the loan, you have to pay back the money.

[Coyster]

Taking loans with no intention of repayment is a crime if you don't know, and you can land yourself in trouble doing that, your OP sounds so easy and smooth to carry out, but that is not how things work. Where i come from, you don't just take a loan, the lender must see your income statement, they must be certain that you are earning enough to repay later, other times you have to provide a collateral for the loan, nobody is just going to keep giving you loans to "build your life" as you are imagining; get to work.

[Qiubell5]

Only a fool takes a loan and pays it back, the point is when borrowing, especially for large loans, go bankrupt, get the money out somehow, use a good accountant and don't pay anything back. if you take a loan in order to pay it back, you are a loser because the interest is your work and the effort you give away. besides, banks print money out of thin air, so this money is free for everyone.

in loans it depends on the intention of people to return it and each individual has a different mindset in paying for a loan is an obligation that must be returned, in terms of borrowing, good planning is needed because you have to see the aspect of managing your money, because it is very important, so that there are no obstacles and returning it because as a society of course it is never free from the problem of borrowing because it is driven to need to add funds, and for other things it depends on the needs of each.

[JeffBrad12]

Taking loans with no intention of repayment is a crime if you don't know, and you can land yourself in trouble doing that, your OP sounds so easy and smooth to carry out, but that is not how things work. Where i come from, you don't just take a loan, the lender must see your income statement, they must be certain that you are earning enough to repay later, other times you have to provide a collateral for the loan, nobody is just going to keep giving you loans to "build your life" as you are imagining; get to work.

seems like OP never really take a loan tbh, this kind of conspiracy theory only be coming out from people who just never take a loan, you can only take big chunk of loan with minimum collateral if you're trusted man enough for example is a good businessman and good businessman will do whatever they can do to keep their reputation and they would never pull something like this because it can get their business destroyed, make them lose reputation and got them in to a trouble. it comes out as a foolish statement coming from OP with all these bs and intending to not pay off the loan is a crime as you stated so anyone out there should never ever take this advice otherwise you might get into a trouble.

[Dr.Osh]

LOL, when someone takes out a loan, whether small or large, we cannot judge whether he is smart or stupid. Apart from that, making a loan and paying it back is a form of someone's responsibility for having made a loan, whether the borrower makes free money or not. However, suggesting something like not repaying the loan is ridiculous. People don't always make loans to banks, but some people make loans to companies or other people, where they also try hard to make money. So, taking out a loan and paying it back doesn't make someone stupid, but it does make them look responsible.

[Yukyzu]

Basically what you are saying is like telling people to commit crimes, because if you have a debt, then it is your obligation to pay it back - avoiding or running away from that debt is like running away from your responsibility. For example, if someone borrows from you, do you let them run away from their responsibility? Likewise, banks will not let you run away from your responsibility to pay it, regardless of where they get the money for your loan is none of your business, the most important thing is that when someone borrows money they have to pay their obligations without any reason.

When someone takes out a loan of course they must be able to pay off the loan and it is very bad if someone takes out a loan and they try to avoid paying off the loan they took out and if there is someone who takes out a loan and does not pay what they have borrowed of course they will be in trouble and if they borrow from a bank of course what they used as collateral to the bank of course they cannot get back until they pay off the loan they took out because the bank will of course auction off the collateral they gave to the bank when they took out the loan but did not pay it off.