Is it advisable to take loan when you in financial crisis

Christianchris16

Well-known member
A friend of mine do apply for loan anytime he feel he needed money for something.He has been doing it so often that it has turned into an habbit, most of the time he do take loan to repay another loan which he has acquired in the past.It got to a point that he stopped passing a particular road because he owed some one money in that street.applying for loan shouldn't be any ones last resort,you could rather ask for help from friends and loved ones.
 

Mataracy

Well-known member
It is very good only if you cab get ways to pay back in due date.
Most people do see loan as away of getting money and run away which could eventually lead them to many problems.

When you want to borrow make sure that you use it for what its meant for so that you will not regret it latter. Loan do help a lot.
 

Ahmedo24

Well-known member
I don't think your friend is serious, using one loan to pay another loan is Recycling and increasing of debts in my opinion. He needs to find some thing very tangible to do and earn a living , if you can introduce him to the different online earning opportunities if he is ready , it will do him more harm than good in my opinion. He will someday get a point where he won't be able to back and no option will be available if he is not careful.
 

Godleads1

New member
It is terribly wrong taking one loan and using it to offset another loan because it drags you the more into more debts. People when they are in debt should seek other amicable ways of offsetting their bills rather than going for a loan. From friends, taking jobs in per day, per week payment and other things.
 
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