It's not smart to borrow funds and Pay back

[DaNNy001]

Well sometimes we can not afford to buy something so we must get a loan for it. It is like this for my car because I can not pay for the full price of the car.

And we can put things on our credit card. That is something I am only going to do if I am able to pay off my credit card. I do not like to pay alot of interest when I do not need to do it.

I think it's best to avoid loans with high and outrageous interest rate, going for loans that doesn't add up interest weekly or monthly wouldn't make anyone think of running away and not paying back...micro finance banks palm pay and the rest have a very high interest rate and if you don't pay in a short while the loans will keep increasing and compounding, at the end of the day most people can't keep up with everything and  they eventually run away putting their guarantors in trouble

[ancafe]

That's absolutely right and I also think that no party gives loans with the possibility of not being returned or without collateral, such as loans to banks all use collateral and we will even lose more if we don't pay it because the collateral we provide will of course be greater than the loan we apply for.

Currently, there are quite a lot of middle and lower class people who use loans unproductively, I think those are stupid and unintelligent people.
Loans should be able to make business easier so that we won't mind paying them later, not the other way around, this is the mindset of many unsuccessful people today who make their lives more difficult with the loans they take.

Financial institutions require collateral for anyone who intends to take out a loan and even then they will not necessarily realize it according to our wishes. Banks have rules regarding loans and they will conduct several surveys before the loan is disbursed and they make decisions after the survey is carried out according to their standards.

Most people pursue a life to be more luxurious so they decide to borrow money. I see many people taking loans to buy cars, build houses or for unproductive needs. Loans will be unproductive when people take them not to be used as capital to develop their business and this pattern is not applied by rich people because they take loans for business development needs or to open other business branches.

[Tigerheart3026]

That's absolutely right and I also think that no party gives loans with the possibility of not being returned or without collateral, such as loans to banks all use collateral and we will even lose more if we don't pay it because the collateral we provide will of course be greater than the loan we apply for.

Currently, there are quite a lot of middle and lower class people who use loans unproductively, I think those are stupid and unintelligent people.
Loans should be able to make business easier so that we won't mind paying them later, not the other way around, this is the mindset of many unsuccessful people today who make their lives more difficult with the loans they take.

Most people pursue a life to be more luxurious so they decide to borrow money. I see many people taking loans to buy cars, build houses or for unproductive needs. Loans will be unproductive when people take them not to be used as capital to develop their business and this pattern is not applied by rich people because they take loans for business development needs or to open other business branches.

i see in my country some people borrowing money from bank to buy cars and flats, those of mostly powerful like politics leader and business man,
they don't pay the loan using their political power, there was not need to taking loan but they taking it illegally, so many such rich people did that in my country, they are corrupted.

[Huppercase]

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.

I have look into your account and I though you have ranked up otherwise I would have said when you finally get signature and take large loan from this forum, don't pay back rather consult your accountant so you can know the difference between loan on paper and reality that we are facing today. Again, you don't need to called anyone fool for paying loan, I'm very sure someone from your relatives have taking high interest rate and paid back in full(fool)

The wealthy people you are seeing today that are ontop of forbe list are all enjoying the benefit of loans they take from banks and that's because of their relationship with the banks and even the government. You don't get big loans from anyone without good connections and networking and you will have to pay back as agreed elese you risk selling some part of your company later in the future. That's not how loan works mate.

[darkangel11]

I think it's best to avoid loans with high and outrageous interest rate, going for loans that doesn't add up interest weekly or monthly wouldn't make anyone think of running away and not paying back...micro finance banks palm pay and the rest have a very high interest rate and if you don't pay in a short while the loans will keep increasing and compounding, at the end of the day most people can't keep up with everything and  they eventually run away putting their guarantors in trouble

There are loans actually worth taking, for instance those provided to poor population. In many countries when you're unemployed, you can take a 0% loan, or one with less than 5% interest rate. We had student loans that were 0% interest rate for a few years and then the bank would start adding interest, but if you managed to pay it back in 4 or 5 years, you'd pay nothing, or almost nothing.
Smart people take loans because it gives them capital to do what they want. Imagine taking a 10 year loan and buying bitcoin with it in 2010.

[Hewlet]

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.

I have look into your account and I though you have ranked up otherwise I would have said when you finally get signature and take large loan from this forum, don't pay back rather consult your accountant so you can know the difference between loan on paper and reality that we are facing today. Again, you don't need to called anyone fool for paying loan, I'm very sure someone from your relatives have taking high interest rate and paid back in full(fool)

The wealthy people you are seeing today that are ontop of forbe list are all enjoying the benefit of loans they take from banks and that's because of their relationship with the banks and even the government. You don't get big loans from anyone without good connections and networking and you will have to pay back as agreed elese you risk selling some part of your company later in the future. That's not how loan works mate.

it's very unhealthy to have the mindset that once you've taken a loan that you should never pay it back. It's not as though while applying for a loan you're being forced to do so, you take loans willingly and aggres to the terms and condition that comes with it and should not for any reason refuse paying back when it's due. Rather than assuming that it's foolish to take up a loan and pay it back in full, it's rather foolish to take up a loan and refused paying it back. Just by putting yourself in the person's shoe that you lend money out to someone to help solve the person's problem and he refused paying back when it's due except he's actually not taken up a loan before if not, the collateral and other things like damage to your reputation that comes with defaulting on a loaned amount is enough reason never to refuse paying up for the loans You've taken.

[Smartvirus]

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.

Do you call yourself a good person after drafting this kind of scheme?
How do you see this for a financial advice for anyone to follow?

You’re just telling the rest of us what kind of a person you are, one who isn’t credit worthy and shouldn’t be trusted with anything of value. Your plan is to go through life, taking loans and not pay it back.

Instead, you prefer to have a business or investment set up in someone else’s name. You don’t even see the risk in doing that. Should the person turn out to be a terrible person just as you are, the business or investment is gone. It’s legally registered in the individual’s name, don’t you see that.

People really do come up with ideas that one might think inconceivable and here is one.

[Mahanton]

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.

I have look into your account and I though you have ranked up otherwise I would have said when you finally get signature and take large loan from this forum, don't pay back rather consult your accountant so you can know the difference between loan on paper and reality that we are facing today. Again, you don't need to called anyone fool for paying loan, I'm very sure someone from your relatives have taking high interest rate and paid back in full(fool)

The wealthy people you are seeing today that are ontop of forbe list are all enjoying the benefit of loans they take from banks and that's because of their relationship with the banks and even the government. You don't get big loans from anyone without good connections and networking and you will have to pay back as agreed elese you risk selling some part of your company later in the future. That's not how loan works mate.

it's very unhealthy to have the mindset that once you've taken a loan that you should never pay it back. It's not as though while applying for a loan you're being forced to do so, you take loans willingly and aggres to the terms and condition that comes with it and should not for any reason refuse paying back when it's due. Rather than assuming that it's foolish to take up a loan and pay it back in full, it's rather foolish to take up a loan and refused paying it back. Just by putting yourself in the person's shoe that you lend money out to someone to help solve the person's problem and he refused paying back when it's due except he's actually not taken up a loan before if not, the collateral and other things like damage to your reputation that comes with defaulting on a loaned amount is enough reason never to refuse paying up for the loans You've taken.

Its not really talking about unhealthy but rather this is something which do really shows up on doing that criminal act. Why? Who would really be on their right minds that taking up a loan and never
tend to repay it back on the time that it reached its due? If you would really be doing such thing or stuff then you are really just that basically making yourself getting imprisoned.
We do know that when it comes into this aspect then it would really be always best that you should really be that debt free as much as possible. Although there would really be those instances
that we might not be able to avoid on taking up some loan due to some common circumstances but it would really be always best that we should really be repaying back.

It isnt really talk about being an obligation but rather it do talks about ethically be mindful about on repaying something which you had promised on paying it back.
Doesnt matter about having government or any will be printing out money since this is really that a different concern. It is really just that they are really that dealing up things
on a way that you could really be putting up yourself on such potential trouble.

[JunaidAzizi]

The author is promoting a fraudulent way of achieving financial stability. I didn't understand what he is trying to say, but from his post, I realized that he may not be in his right mind, and that's why he is sharing such a bad idea with others. I know taking a loan is a tool that can lead you to financial stability, but after taking the loan, how can one refuse to repay it?

If you are not aware of how to take control of your financial system, then don't advise others on such bad things because this is unethical behavior and will increase the crime rate in the region. The wise decision is to take a loan from the bank and put some part of it into a business, and the next portion of those funds should be utilized to support your business. When you reach the point where you can repay the loan, you should do so. But what is the point of taking a loan and then not repaying the bank?

[Son Of Blockchain (SOB)]

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.

What! I'm trying to understand what I just read, did you just say only fools take loans and pay it back! My thoughts are that your words are misleading and people could get in lots of trouble if they decide to follow that statement, you just don't go misleading people by advising them to take loans and flee away that's a criminal thought and I hope no one takes it very seriously.
 For instance how would you feel if I take loans from you, like your hard earned money and flee away or refuse to pay back? Like you'll applaud me or get me a medal when next I come for another loan right? Makes no sense and do you know how many banks would go bankrupt if everyone takes loans and refuse to pay back, I don't even think the world bank would exist anymore if every country indebted to them refuse to pay up.

[Bitco55]

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 at least something out of it.

I want to believe you knew what you were writing and probably didn't know how to express it properly, cause I see you talking about how money makes money, and how one should use the money to start a business, which is actually correct. Or, you intentionally wrote it in a way that could cause more comments. Whichever, I really do want to believe you know exactly what you wrote. Cause if you really believe that money printed is free and must not be paid back, then you should have been identified as a scammer by now.

Whether it's free or not, it's not yours. Sure, it may be a little un-smart to take money and pay it back immediately when you can actually earn from that money still considering the risk, but not paying back at all is another case on its own.

[slapper]

~snip~

Its not really talking about unhealthy but rather this is something which do really shows up on doing that criminal act. Why? Who would really be on their right minds that taking up a loan and never
tend to repay it back on the time that it reached its due? If you would really be doing such thing or stuff then you are really just that basically making yourself getting imprisoned.
We do know that when it comes into this aspect then it would really be always best that you should really be that debt free as much as possible. Although there would really be those instances
that we might not be able to avoid on taking up some loan due to some common circumstances but it would really be always best that we should really be repaying back.

It isnt really talk about being an obligation but rather it do talks about ethically be mindful about on repaying something which you had promised on paying it back.
Doesnt matter about having government or any will be printing out money since this is really that a different concern. It is really just that they are really that dealing up things
on a way that you could really be putting up yourself on such potential trouble.

You borrow, you gamble with your future. Can't pay it back? That's not just a financial screw-up, it's a failure of character. You lacked foresight, you lacked discipline. We live in a world that screams "NOW!" Instant gratification, instant debt. It's a toxic cycle, and it's killing us

Still, loans fuel economies, they help people achieve dreams. It's a double-edged sword. You want to play this game, you better be smart. Understand the risks, understand the rewards. This isn't about avoiding debt, it's about controlling your destiny. Loans test your ethics, your financial IQ. Fail that test, and you lose more than money. You lose your freedom

[o48o]

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.

That only makes sense if you don't NEED a loan. You don't take loan for fun, you do it because you don't have money at the time to make larger neccessary investment fast and you are SURE that you have money to pay it back later. And by investment i don't mean crypto or something, but something neccessary what you NEED fast and what pays itself back and costs more if you don't take the loan.

And what is this "somehow" you are getting the money? How do you get an accountant if you don't have money? What if you can afford accountant and that accountant agrees that you need a loan?

Also saying "banks print money out of thin air, so this money is free for everyone." (which it by definition is not) is just dumb. In that case what would be the harm of taking a loan if it's free for everyone anyway? If it isn't worth anything there's definitely no problem paying it back.

[Issa56]

The author is promoting a fraudulent way of achieving financial stability.

What the OP is saying doesn’t make any sense to me. If you know you can't pay back a loan, then it's better you just don't request for it, and if you think the interest is too high, then you can just talk to whoever is giving you the loan to reduce the interest on it. If you people come to an agreement, then it's fine. But if you don't agree and you think the interest is too high, it's just better you just stay away from the loan, rather than planning to run away with other people’s money, that’s just a criminal act, and not smartness.

[terrific]

The author is promoting a fraudulent way of achieving financial stability.

What the OP is saying doesn’t make any sense to me. If you know you can't pay back a loan, then it's better you just don't request for it, and if you think the interest is too high, then you can just talk to whoever is giving you the loan to reduce the interest on it. If you people come to an agreement, then it's fine. But if you don't agree and you think the interest is too high, it's just better you just stay away from the loan, rather than planning to run away with other people’s money, that’s just a criminal act, and not smartness.

There are people that does this in real life, we can see it for example in the forum.
There are high ranked forum members that just let their accounts be tained with red trust and they default on their loan.
If you have a life mantra or some belief about karma and such, you'll never have a good life if you have the intention of loaning and not paying it back.
A person that does this is a parasite to the society.

[Su-asa]

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.

Whatever point you are trying to make here cannot justify the reason why you shouldn't pay a loan you took from an individual or organization especially when you have that money in your possession, sometimes we blame the government for everything due to how corrupt the leaders are forgetting that we also have to change our mindset so if we ever get that opportunity to rule we won't do the same thing, this is actually a actually portrays you as someone that lacks integrity and people wouldn't want to do business with you

[DubemIfedigbo001]

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.

I can relate to what OP's saying, borrowing money with the intention of not multiplying it and just passing back is bad because you end up paying back with interests which is your money every time and everybody the loan sharks, leaving you with nothing but a life of slavery.

I had a friend who borrowed money for her business and pays back in a weekly basis. I advised her to ask the loan company for some time to pay the loan since she's using it for her business so she can multiply it, pay them back and continue her business with the proceeds and make her own money without having to enrich them anymore, she lied to them that she lost money and needs more time to raise their funds, they gave her one month ultimatum to pay back the funds and she took her time, put the money back in her business and made more gains from the compounding effect and increased capital with their money and paid them back within the stipulated period with same interest rate.

She confirmed to me that she didn't have the need to borrow again and her business is running smoothly as she now has enough money to continue.

[ancafe]

i see in my country some people borrowing money from bank to buy cars and flats, those of mostly powerful like politics leader and business man,
they don't pay the loan using their political power, there was not need to taking loan but they taking it illegally, so many such rich people did that in my country, they are corrupted.

How can they not pay, isn't the loan binding where everyone who takes it must be paid off by the deadline given or it could be that every month they have to pay installments. The phenomenon in my place is that civil servants take loans to buy cars or build houses and their salaries will be deducted every month for installment fees. This loan pattern is not productive and this sense is not a wise decision to apply because the money is not used to develop something more productive.

But because there is no other choice, most people no longer think about the impact of the loan because the most important thing is that they can buy a car or build a house when they want to take a loan from the bank. This mindset has been practiced in my area and unfortunately they never think about how to make money but take alternatives to meet both needs.

[Peanutswar]

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.

It seems your objective here is to take a loan and don't pay it back you know that there's a law about it and of course there's a sanctions file on the court and even a small claims what you have. It depends on the debt you are trying to do if you are just a person who seeks for the debt just to spend money all over with your leisure you are doing wrong because those are dead end liabilities instead the item you've choose possible makes a quick differ instead those have a good strategy with the debt seeks money to create another asset to give them a good amount of cash flow so once it becomes successful and generating money those earnings from this are the one to use for paying the debt that will onwards become your profit gains.

[ndutndut]

Financial institutions require collateral for anyone who intends to take out a loan and even then they will not necessarily realize it according to our wishes. Banks have rules regarding loans and they will conduct several surveys before the loan is disbursed and they make decisions after the survey is carried out according to their standards.

Most people pursue a life to be more luxurious so they decide to borrow money. I see many people taking loans to buy cars, build houses or for unproductive needs. Loans will be unproductive when people take them not to be used as capital to develop their business and this pattern is not applied by rich people because they take loans for business development needs or to open other business branches.

If you intend to have debt, you should first understand what the advantages and disadvantages are and how we can overcome them so as not to get trapped and in debt. Sometimes this is not well understood, even though we borrow money for a business like you mentioned, we can apply for a loan to the Bank and they will conduct a survey and then the money will be disbursed. However, if you do not have good business experience or are still a beginner, you should never take a loan. If you do not have the ability to do business, never approach debt even a little. Because in my opinion having the ability to do business is the main thing, so it's not just money. Having money but not having any ability at all in business can also be said to be unproductive debt.

Rich people usually take loans to do business because they already have a business, they take loans to develop the business to be bigger or already have experience in business. so it's no wonder that rich people who have debt will actually get richer.