Loans Do You Think People Have Taken More Loans During The Pandemic?

[Good-Guy]

This Covid-19 pandemic is one of the worst kinds of pandemic the humanity might have ever seen. I am not aware of any pandemic during the current digital and modern age that has caused so much destruction and bankruptcy. This pandemic has led to the closure of many kinds of business organizations. Moreover, this pandemic is one of the main reasons why industries have also collapsed. Whenever industrialists or businessmen face such issues, they tend to borrow loans. I am not aware of any business person who has taken a lots of loans during the pandemic. However, do you believe that during the pandemic people have taken more loans due to financial crisis and avoiding bankruptcy? What are your ideas about this? Please share your thoughts?

 

[Mataracy]

I believed that many people are really taken loan during this pandemic period . Though its not that they are just taken it for merriment but for business purpose.
I think many people during this period really think and change their orientation by making something out of nothing. Many can not achieved their plan until when they applied for loan.

 

[Alexandoy]

Yes, many in our neighborhood are indebted to the local usurer who lend money at high interest rate. When you lose your job for 2 months every now and then your budget will be ruined that the only recourse if you have no savings is to borrow. When no one would lend you then that is the time that you will turn to the usurers.

 

[Abigael]

Yes, I think many people had to take loans during the pandemic. This is because many people were caught off guard with no emergency savings. Then many People lost jobs and businesses fell. So the only option was to live on loans. Yet many have not yet paid back those loans. Such a big messed caused by the pandemic and people's unpreparedness.

 

[btaliat]

There is high tendency that people might have taken too much loans during this pandemic. The period was so tight for most people especially private workers. May business crumbled and they needed loans to survive again. All these made obtaining loans compulsory during the pandemic. I pray we never such a thing again.