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Main Reason Why People end up in debt
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[QUOTE="Kendy, post: 216763, member: 63869"] To me, I think one of the reasons people end up in huge debt is because of the inability to have a feasible source of income and also taking of loans that are having high interest rates and short duration on repayment. Some individuals just opt for loans without critically reading the terms and conditions and analysing if those conditions are actually favorable and time permitting in conjunction with the kind of business or the kind of investment they want to do with the loan. Also, some other people do not even wait to maximize profits, they actually jump on any available loans they see and this is always not the way out because there are some circumstances that may impede your chances on making profit and this will mean accumulation of more interest rates on the original capital. It is always best to take loans that do not have huge interest rates and also consider taking loans that have a logical timeframe or repayment. In addition, it is good to avoid taking loans in the best way as possible. You could ask for other alternatives like; empowerment opportunities, grants, from government or crowdfunding or you could even borrow money from family members which might not require you to add an interest rate when returning the money. [/QUOTE]
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Main Reason Why People end up in debt
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