Good-Guy
VIP Contributor
Paying debts can be tough sometimes. In fact, many people actually have trouble paying debts. This is why I have always advised people to never take loans or borrow money until or unless they are quite sure that they will be able to return the loans. Borrowing money can lead to debts and having a bad debt record is never a great idea because it might have an effect on your reputation and credit history. Sometimes people even borrow loans to pay off their previous debts. This is done by people whn they are not able to pay off previously taken loans and borrowing money to pay off previous loan actually gives them more time to pay their loans because the loan and credit terms get refreshed (i.e. new agreement with a new date is created). This might seem like a big advantage of taking loans to pay off debts, but have you ever done this before?