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Personal loan
Taking loan to repay another loan?
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[QUOTE="Ayuba Ernest, post: 228929, member: 70169"] When you think if such scenario, you begin to ponder why would one even take a loan he isn't able to pay?. Well, even the frustration of the economy and other heavy task one has to do would drive you into loan. I know a lot of people who rely on loans to carry out businesses and never paid back. Some may even run away due to fears of getting traced or arrested. Borrowing loan is not anyone's option. But there are some times one has to attend to emergency needs and thereby opting in to loans and borrowing apps. Back to you, it is definitely a bad idea to borrow to repay back loans. You're just creating a loop and thereby increasing your debt over time. Before borrowing, you should have a detailed budget on how and what to use the loan for. Improper planning is one the factors that leads to such situations thereby making no room for improvements. I always advice my friends to stay away from loans and loan apps, don't punch above your weight and engage into something you can't finish. If you want to take small loans, get a good friend from who you can borrow from. That I think is the best way to avoid a loan loop. [/QUOTE]
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Taking loan to repay another loan?
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