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How much debt is too much debt?
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[QUOTE="Kingsley, post: 216367, member: 30278"] I don't support people who love accessing loans some even do access loans, just because a fellow colleague in their work place or business centers told them they were accessing loans. They do this believing they will pay it back with their salary, but in the end they discover that they can not cover the repayment and hence the interest on the loans become so alarming. Some just feel their business can not just do without accessing loans, hence they go all out accessing loans from various microfinance bank and at the end they misuse these loans and get seriously indebted. And he same business they were trying to maintain will eventually be shut down. There are other people who think the omly way to start a business is by accessing loans, although it is true that the economy of my country is very terrible as there are no support financial for people who intends to start off a new business and even existing businesses finds it very difficult to support themselves. But i wouldn't encourage others to go into loans because it might make them become bankrupt. Loans become too much when it looks like a bad debt or irrevocably debt. [/QUOTE]
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How much debt is too much debt?
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