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Personal loan
Reasons to take loans
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[QUOTE="Abigael, post: 212578, member: 25357"] Sometimes taking a loan can be a necessary thing for you to do. This is because some situations poses it as your only source of money. However, it should never be done all the time. This will lead you to having an unstable financial status. Especially since most lending institutions or people lend with high interest rates. One situation that can lead you to taking a loan is when life or death is involved. Maybe you or someone you love needs medical attention urgently to save life and there is no money to pay for it. That is where most people end up taking quick loans. But remember health insurance was introduced for these cases. Therefore, make sure that you and the people depending on you have a health cover. Another scenario that leads people to taking loans is when expanding their business. Most people find this to be a noble reason because the business will bring back profits that will be used to pay back the loan. And the good thing with this is that the business is already established and so profits are almost a sure thing. It important to note that it is not advisable at all to take loans for luxury purposes. Most of this instances are not planned for and so you don't know how to pay back the loan later on. [/QUOTE]
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