Loans Both a loan giver and a loan taker are in risk!

[MOSIUR]

Loans are very risky!
In the society, there are various people who have been living peacefully for a long time. But, suddenly if anyone falls in trouble financially, he generally, at first, goes to a person who is able to give him loan that will be paid back after some days or moths or years according to the conditions.

In some cases, the person who has already taken loan, cannot pay back in time. Then, there creates a clash between the loan giver and the loan taker and sometimes, it may happen so fierce fully. Very often the loan giver wants to snatch the money at any cost, even by attacking the loan taker, it leads to death too.

On the other hand, whenever the loan giver wants his money to the loan taker again and again, the loan taker being angry attacks him, sometimes it leads to death. What do you think about this issue?

 

[Jonaville]

I always tell my friends who are interested in starting a business to stay as far away from loanns as possible. It never helps because sometimes things might not go the way you expect it to go in the business. And in such cases, paying back the loan will be very difficult.

 

[Chibson]

Taking of loan is one thing that I try as much as possible to avoid. I also do not like giving people loans because they may not be able to pay back and that may be a time I need the money most. it is better I give you money for free than to give you a loan.

 

[Good luck]

You are very right.taking a loan to do a particular business is very risky because of the business end up folding up,the person that get the loan may find it difficult to pay back.even the bank will be bothered about their money and it will not stop them from increasing the interest rate due to their policy.Both parties are at risk.

 

[Richee84]

Loan is a risk to both the lender and the borrower, I totally agree with u on that. The lender face the risk of getting back the loan from the borrower cause if the borrower fail to pay back the loan the lender will be at loss. The borrower is face with the risk of repaying back the loan if what he use the loan for fail

 

[kayode10]

Well nothing is risk-free in this world. If someone still there is a high probability that they may not wake up. It takes a weeks to get out of your house because you may likely get involved in accident on the way. Everything has one or two risk revolving around them. This is the reason why we need to take calculated risk. Whatever happens comes with learning experience.

 

[btaliat]

As a loan receiver, I always make sure I don't take more than I can afford to pay. I do borrow loan even when I have plan b in case I couldn't pay on time with my targeted money. And as a loan giver, I give out what I can afford to lose

 

[kayode10]

I think the person that borrow will be at more risk as the interest will be accumulating if they did not pay back the money on time. This can be a great problem in a country where everything is working perfectly fine and they have good legal system. the court will forfeit everything belong to the borrower if they fail to pay back the loan on time.

 

[Sotherefore]

Generally I do not support getting a loan to start up a business because I just consider it as a risk that could bring a lot of disagreement especially if the person getting the loan is not able to pay it back I believe both of them are at risk especially if the other party is not able to pay back the loan they have collected because of business failure.

 

[Bashbash]

Both the taker and giver are taking a lot of risk ,the person given loan or expecting the money to pay back with interest ,why the taker atimes after collecting the loan may be having alot of expenses that can jeopardize the business and profit coming in is not enough.

 

[Abigael]

It is very true that both the loan giver and the loan taker are in great risks. Especially when the loan taker refuses to pay back the loan. It can lead to great conflicts and even death for sure. I remember there was a time my sister's life was threatened with weird calls because she was unable to pay a certain loan. This can be so devastating.