Carpon
Valued Contributor
I want us to have a Frank discussion about loan collection. Let's keep it at the back of the mind that Loans are usually paid back with interest and so you pay back an amount higher than you borrowed or collected.
So now the question is am I losing or gaining by collecting a loan?
In my humble opinion, I will say that in terms of getting and losing money, you are actually losing since you are paying back an amount higher than you collected.
The gain in collecting loan is the fact that the loan helps you to grab opportunities, take care of things that may threaten you and embarrass you, and in some cases you may use the loaned amount to make huge profit which you would not have made if you had not collected the loan.
So I think this depends on the reason for your loan collection and what you use if for.
What is your opinion?
So now the question is am I losing or gaining by collecting a loan?
In my humble opinion, I will say that in terms of getting and losing money, you are actually losing since you are paying back an amount higher than you collected.
The gain in collecting loan is the fact that the loan helps you to grab opportunities, take care of things that may threaten you and embarrass you, and in some cases you may use the loaned amount to make huge profit which you would not have made if you had not collected the loan.
So I think this depends on the reason for your loan collection and what you use if for.
What is your opinion?
