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Personal loan
Common reasons for remaining a debtor
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[QUOTE="Sotherefore, post: 217261, member: 27033"] One of the disadvantage of getting a loan to do anything is that you can easily get a loan and it will be simpler for you to do all the necessary requirements to secure a loan but to pay it back is always the most important factors. Paying back of loans is always the most challenges of a lot of people . That is why if you are not really sure about the business you are doing it is always important for you to avoid loan at all cost because it could possibly be dangerous when you are not able to pay it back. The inability to make the required money that is needed to cover this loan is the most important factors that could lead to inability to not paying back the money you have collected. Knowing the type of business we are starting with a loan really matters because if we engage in non profitable Business we won't likely pays back the loan we collected. Lack of proper financial Management could also be another important factors just like you have said. Proper financial Management in any organisation is absolutely necessary and not just for repayment of loan but for the general progress of the business . [/QUOTE]
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