TOZZIBLINKZ
VIP Contributor
Being financially indebted to another for a long time is absolutely one critical situation that every individual must endeavour never to fall into. There is absolutely nothing wrong for an individual to be in debt because as long as he or she knows how to repay off his or her debts when the time comes then there is absolutely no problem . The problem here is only when an individual is helplessly indebted and has no possible way in mind to repay the debt he or she has on another. That is why it has always been emphasized and analysed that before collecting a particular sum of money possibly as a loan , you should first of all think about various possible ways you will be able to repay back the loan to it owner, even if the intention you intend to use the borrowed money or loan for doesn't turn out as expected or as planned . For example an individual may borrow a loan to establish a business in which he or she has taught and analyse about in all ramifications is supposed to be profitable and successful.
But somehow due to environmental factors and some other factors not taught about, the business which was established later didn't go as planned. Whether the business was successful or not, the individual in question have to repay the loan. But how will he or she be able to do this especiallynow the intentions of getting the money has crumble. It is so much better to speculate other strategies and ways to repay back a loan even if the intended strategy wasn't forth-promising .
But somehow due to environmental factors and some other factors not taught about, the business which was established later didn't go as planned. Whether the business was successful or not, the individual in question have to repay the loan. But how will he or she be able to do this especiallynow the intentions of getting the money has crumble. It is so much better to speculate other strategies and ways to repay back a loan even if the intended strategy wasn't forth-promising .