Mika
VIP Contributor
If you have an outstanding loan and when you receive your salary, or money from your employment or business, what do you do first? The answer is simple, pay your loan instalment. If you cannot pay instalment for principal amount, at least pay your interest. Paying debt is non-negotiable, as neglecting it can lead to serious consequences, your collateral might be seized and in worse case scenario, you might be sent to imprisonment for financial fraud. If you lack funds to repay, consider selling assets or borrowing from friends and family. In the mean time, continue working hard to generate income and lead a debt-free life.
