Loans: Good or Bad?

[egcgecobe]

Acquiring a loan or lending money both go from good to bad only when discipline is lacking. Acquiring a loan takes a lot of discipline to be able to pay religiously and preventing oneself from acquiring multiple loans that will put him to being incapable of paying. Same thing goes when lending money. Discipline in managing the lending system plays a vital role in making sure that the money will not go to the wrong hands. Scrutinizing people to lend the money to and checking their background and capacity to pay will make secure the return of the money borrowed. Also, a written agreement or contract should always be presented to have a strong hold to the person who borrowed and may serve as an evidence when things go wrong.

 

[Jjjjj12345]

In layman's term, a loan is money you borrow from a financing institution that you have to pay within a certain period with interest.

So when is loan a good option? Loan is good if you will use to leverage your resources. For example, you will use the loan to expand your business. The advantage is that you have the money from the loan to use, and once you start earning from the business you can use thus to pay the loan without shelling out from your pocket.

Loan is bad if you do not plan ahead what you will use it for and if it will be spent without purpose.

 

[Haroon rasheed]

I think so that loans are very good to start a new business with new zeal and zest.Loans support us in a very critical situation.They help us in our bad days to improve ourselves.We can start a good business and can earn a better profit.After a few days,we can return the loan to company or bank happily.

 

[Guest]

I think so that loans are very good to start a new business with new zeal and zest.Loans support us in a very critical situation.They help us in our bad days to improve ourselves.We can start a good business and can earn a better profit.After a few days,we can return the loan to company or bank happily.