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Personal loan
Is it a good idea to borrow money to payback a loan?
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[QUOTE="Alexandoy, post: 90494, member: 25510"] We call it re-structuring the loan when we borrow money to pay back an existing loan. Usually the new loan is longer in term like 1 or 2 years to pay back the existing loan that is on a shorter term. But if you are taking another loan because you have neglected the first loan then that would put you in a trap. Sooner or later you will drown in debt. [/QUOTE]
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Is it a good idea to borrow money to payback a loan?
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