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How much debt is too much debt?
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[QUOTE="sincerem, post: 216766, member: 25228"] [FONT=Courier New][B]For me, I would say debt which you can't control or afford to repay as at when due shouldn't be considered, that's the one which is too much for an individual to handle. Yes, I take loans from my local bank but I don't take more than I can't afford to repay. And when the interest rate becomes too much I simply stay off. I will only go for loan whose interest rate isn't much. I am happy I've taken care of all my debts especially the one I am owning the bank. Meaning, I am not burdened anymore concerning loan debts or debts from another source. To be frank, I never enjoyed taking loans, if not for emergencies I wouldn't even enter into such kind of thing. It is easier to take loans but very hard to pay back. Lots of people are simply suffering it today due to excessive pending loan debts. And as such, the interest is increasing because it has crossed the deadline, that's simply weird to enter it. It causes restlessness to the affected one. That's why it isn't advisable to enter into loan we can't afford to clear when it is due to avoid issues. [/B][/FONT] [/QUOTE]
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How much debt is too much debt?
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