Is it bad if you do not pay off your business debts, despite having the money.

[TOZZIBLINKZ]

There is literally no two ways about it , it is absolutely very bad and inhumane not to pay your business debt despite having the money to do so . It is very important that business owners understand that the earlier they pay off their business dept they more likely their business is being shield from incurring liabilities and also the more likely the business owner is able to win the trust and loyalty of the money lender so that in any case he or she falls into the situation of looking for another loan the money lender can actually learn him or her alone again because the money lender knows that the business owner actually repays in the due time .

If you have the money to pay off your business that it is absolutely advice and recommended to do so because money is actually a very perishable and fragile as it that could readily be spent on things that are absolutely unwholesome and worthless . Paying off your business debts is totally not an unwholesome of what less business activity , what that simply shows is that you are simply avoiding your business from accumulating or necessary liabilities which is absolutely very nice and thoughtful of you as a business owner .

 

[CALVINDOL]

The habit of not repaying you are business debts and owing is absolutely not advisable to be one of the habits of a particular business owner . It is advisable to pay of your business steps when you have the money to do so because it totally Shields your business from encountering are piling up liabilities and very sincere when a business encounters more than usual liabilities such business could go bankrupt or liquidated Sooner . When you pay off your business debt the individual that you pay the money to you automatically wins his loyalty and he or she is more likely to issue another loan to you possibly when you need it .

It is totally advisable that before collecting a business loan you must first of all devices that you will be able to pay off the loan if the reason why you collected the loan doesn't turn out to be as planned or expected . If you are unable to device a successful and efficient way of paying off the loan that you collected it is totally advisable not to even collect the loan at all so as not to make a business so far uncalled and unforeseen devastating effect .

 

[Bluejettravel 70]

There is literally no two ways about it , it is absolutely very bad and inhumane not to pay your business debt despite having the money to do so . It is very important that business owners understand that the earlier they pay off their business dept they more likely their business is being shield from incurring liabilities and also the more likely the business owner is able to win the trust and loyalty of the money lender so that in any case he or she falls into the situation of looking for another loan the money lender can actually learn him or her alone again because the money lender knows that the business owner actually repays in the due time .

If you have the money to pay off your business that it is absolutely advice and recommended to do so because money is actually a very perishable and fragile as it that could readily be spent on things that are absolutely unwholesome and worthless . Paying off your business debts is totally not an unwholesome of what less business activity , what that simply shows is that you are simply avoiding your business from accumulating or necessary liabilities which is absolutely very nice and thoughtful of you as a business owner .

sooner the latter will catch up with you and end up on the courtroom or the IRS will get you! I believe in the debt always payed in full and there is a program also.

 

[soxcryp]

Of course our bills must always be paid. It is not at all responsible to take someone else's money as a loan and then not pay it. In this sense, it is highly advisable to take precautions when taking out a loan, and the most important of all is to know if we can pay it and how.

 

[Kingsley]

That might want to paint a scenario of what is going on in most African country and mostly my dear country. It is beyond irresponsible to obtain loans and after acquiring the means to pay back those loans and still refuse to pay them. When we look at the facts and figures we will realise that most developed nations of the world today are the ones that are more indebted or should we say they have acquired more laoms in the past and recent times. But the reality is that they make good use of the funds that they borrow from either the IMF or WORLD BANK. And they do everything within their powers to empower their citizens by creating an enabling environment for businesses to thrive and for their countries to attract foreign investment. And as soon as they begin to generate or realise profit they will begin to follow the laid down plans that they are having to pay back their loans. Unlike most African countries especially my country that embezzles and misappropriate funds that were suppose to be use to finance capital projects hence they return back to square zero and remain heavily indebted. This is why Africa looks poor.

 

[Ithedicious]

It is definitely bad for people not to pay back the money they have collected even when they have the money to do so , but this will not affect the debt owner but it will definitely affect you as a business organisation because you will continue to pay interest until you are able to pay back the loans. I don't even think a standard business organisation will fail to pay back loans they have collected even when the money needed to pay back the loan is available because loans naturally comes with interest as long as you are with it.

Business owners also at the same time should try as much as possible to avoid using a loan for establishment of business , personally I do not like it because loan may not be suitable for some business. It can also put you at the risk since you would have to pay it back within a given period of time .

 

[sincerem]

I really don't get the reason why a business owner will have the money to settle outstanding due loan and he or she holds back from paying. You'll pay withhold from paying your debt as a business owner if the repayment isn't due, because you borrowed for a specific purpose and not just borrowing and paying back immediately. Even if it's me, and I have the funds to pay back immediately and my loan isn't due, I would not try replaying, because it isn't right at that time and you aren't paying extra charges either because you never broken their rule of late payment. Normally I hate taking loan, but when you need that money urgent for emergency problem solving in your business or elsewhere, you might be forced or pushed to take a loan in which you never plsnned for. Unless you have a reserve funds in which you kept aside when unexpected circumstances occurs.

 

[Sotherefore]

Personally , I don't just see the need for you to be accommodating more debt to yourself and at the same time be paying extra charge . This will not adds burdens to people you have collected the money from because you are still the one to be paying the interest on monthly or weekly basis depending on the arrangement you had previously.

I am running a business organisation and I have the money to pay back the loan I have collected then that is the best thing I will do because I will be trying as much as possible to avoid any situation that I am still in debt with anyone.

And also at the same time you have to understand that getting money to start up a business is not good because you might even be at risk of losing money and the business at the same time if proper management and arrangement is not made . If you get the money you have to pay it back as soon as possible.

 

[Suba]

Paying off debt is a must that must be done on time by every businessman, whether it's merchandise debt (account payable) or capital debt. Unless a businessman is in bankruptcy which must be declared by the court. But if a businessman has money and is able to pay all his debts but the businessman is reluctant to pay, then his career as a businessman will soon be over, there will be no supplier willing to send merchandise and even his reputation will be destroyed because news will quickly spread either through social media or word of mouth.

 

[btaliat]

Debt is not really a bad thing. It is proper to be in debt. But there must be tangible reasons why we must be in debt. If there is no solid reaosn for it, there may be tendency that we may not be able to repay the debt which is very bad. This is to say, the only thing that can make us not to be able to repay our debt will be the fact that there is no accurate plans before we be in debt.

Not paying debt will always soil the person's reputation. Just like I said, we can be in debt but if we fail to repay the first debt that we have, we may find it difficult to get others. And the fact is that a big business man will always need loan from banks or people to run his business. Who will them borrow him again when he knows that he has not repaid the first one that he got.

Apart from the fact that it can soil the reputation of the business man, it will also allow the business owner to be living on debt. There is no joy to have much and debt is the major part of the much

 

[coin456]

Well according to me if you have a good business opportunity where you can get good returns with minimal risk , you can invest there and with the returns you can pay the debt back .

 

[Vladv26]

It depends on the situation. What if you have the money available to pay your debts but instead you could invest that money into your business, which is going to produce you even more money in the future? Some debts can be postponed for a couple months, and even if you have to pay some extra commissions later it might still be more profitable for you to invest that money instead of paying your debt. Because you might pay all your debts first but then your business might fail later because you didn't invest money into it at the right time. So you're left with no business, but your debts are paid which is not a bad thing but still maybe you could have saved your business and pay the debts later. If the debts are really big and urgent, then sure pay them as soon as possible but if not you could postpone them for a while if necessary

 

[Richee84]

Debt is one aspect that most business men and women run away from due to the involved in paying back the debt been owned. It is very true that some people collect loan and after they have use the loan to achieved their aim, they find it difficult to pay back the loan. Some factors might be the reason behind it, though it is never to be encourage for anyone owing not to pay back while they have the resources to do that. Below are some of the reason while i feel some debtors deliberately refuse to pay back their loans;
Accumulating interest on a daily basis, when the interest rate applied by the creditor is too high that the interest has even surpasses the principal capital, it might be difficult for the debtor to pay back all the loan as the debtor discovered that what is to pay is double or even triple the initial principal capital collected earlier.
Higher interest rate or charges. Charging high interest rate on loan will further make the repayment difficult for the debtor. If a loan attract low interest rate with good time frame for repayment, the debtor will be encouraged to pay back on time and with ease.