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Personal loan
Be wary of Loans
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[QUOTE="Abigael, post: 236939, member: 25357"] It is true that loans can make you a slave to the lender. Especially in cases where you don't have money to pay back the loan. You end up having so much trouble with the loan lender and build a bad credit history. Having a negative credit History denies you of many opportunities. There are business loans that you can take and they benefit you alot. You can use the money to start a business that you have planned well and so you earn some profits. With time, you pay back the loan and remain with a business that earns you money. But you may take some personal loans which end up being a liability. The loans are maybe used for luxury items such as an expensive phone or taking your friends out on a trip. Such a loan does not earn you any profit and so you will end up being unable to pay back the loan. Other personal loans are beneficial though. For example taking an education loan is great, especially those given out by the government. They don't put you on so much pressure to pay back and the skills that you learn from that education will land you a good job. [/QUOTE]
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