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Has Anyone Ever Gone Bankrupt After Taking Loans?
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[QUOTE="Kendy, post: 221659, member: 63869"] Yes, I took up loan to start my poultry farm just three weeks before the covid-19 pandemic. It was so difficult feeding the chicks because of the lockdown order and even where to find the feeds was a serious problem with triple of the original price due to the total lockdown which posed as a threat to importation and exportation. I had a tough time in finding ways to feed them and treat them during that period because even vets were skeptical to treat them in order not to contract the pandemic virus. At the point of sales, it was the worst because the loan repayment period was drawing closer yet I had made no sales rather I was incurring losses because I kept on feeding them since many people did not buy. I went bankrupt trying to repay the loan. I even sold some of my valuables to clear off the loan and since then, I told myself never to take loans no matter how demanding or pressurizing the situation might be so long as it does not involve life and death situation. This experience was really an eye-opener to me to be more cautious and source for other alternatives like selling my valuables which I was still forced to do when the repayment was over due. [/QUOTE]
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Has Anyone Ever Gone Bankrupt After Taking Loans?
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