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Personal loan
Reasons why you shouldn’t take loan
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[QUOTE="Abigael, post: 210316, member: 25357"] Some of the reasons that people should not take loan include; 1. If you don't have a plan on how to pay it back, you will end up living a life full of frustration. This is because you are stressed about the unpaid loan. Therefore, only take a loan after laying down realistic plans on how to pay it back. 2. When taking loans to start a new business, you may end up running the business with so much anxiety. This is because you are not really sure if the business will be successful so you pay back the loan. That is why I prefer to start a business with other sources of capital. Then only take loan when expanding an already established business. 3. Incase you default on paying back loans, you end up having so much negative consequences. One of them being that you will get a negative credit history that will deny you many opportunities in future. Another one is that you will loose the good relationship you probably had with your lender. Therefore, only take a loan when you are really sure that you won't default. Looking at these reasons on why you should not take loans, I would like to insist that you really be calculating before taking any loans. You should be sure that you have a solid plan of using it wisely and being able to pay back. [/QUOTE]
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Reasons why you shouldn’t take loan
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