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Personal loan
Do you repay interest accumulated with loans?
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[QUOTE="Rachael, post: 226097, member: 68963"] Yes, most loans are attached with interest rates and the longer you fail to repay the loan, the more accumulation of the interest rate. There is no way you can avoid repaying interest accumulations and this is why people should stop taking excessive loans. Due to desperation, business owners most especially do take loans even without reading or ascertaining how the terms and conditions can effect their business. They tend to obtain high yielding interest rate loans, coupled with short duration on repayment and when the repayment duration is fast approaching or elapse, they would still be struggling to make profits so they could refund to avoid too much accumulations and this makes the whole process very pressurizing. Most of these online loan apps are so discouraging for individuals to borrow money because of the exorbitant interest rate they exude. The best way to avoid bad debts is to have a backup plan or collateral which you can easily sell to pay off the loan or better still, if you need a capital of 100%, it is advisable to get half of the money from your personal savings and perhaps the remaining half through loan and with this method, you would help yourself by reducing some pressure. [/QUOTE]
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Do you repay interest accumulated with loans?
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