What can make you take a loan

[Carpon]

I personally see loan taking as something that shouldn't just be done anyhow and that is why even when you go to the bank to get a loan, you will find out that they won't just carry the money and give you but will begin finding out the reason why you need the loan.

Also, there are various thoughts people have on loan taking and others won't take a loan because of some reasons while they can because of others.

So what can make you take a loan?

Personally, I never regarded loan collection as something I can do anyhow I wish and I even get scared when the idea of taking loan is mentioned to me.

Some of the things that can make me take a loan include:
✓ For the purpose of starting up a business.
✓ To make an investment.
✓ In cases of deep and serious financial crises.
✓ To acquire liquid assets which may yield profit over time.

What of you?

 

[saoussen5765]

Taking a loan for luxury is not recommanded as many people just take loan to go to travel or something like that. Take loan to pay previous debt will only increase the loan schedule.
Take a loan for also medical operation is something crucial and we cannot avoid such kind of loan to not lose the person handicapped or needs hospital operation.
Therefore you have to see if your investment is short term results or long term results because it differs for the loan conjoncture and interest and duration to pay back money @Paul Abel.

 

[Heartstrings]

Personally I don't like taking loans,when I owe someone,I won't have rest of mind again till I pay that person off, that's just me. I am not of the idea to take a loan for a business purposes,I prefer to start up my business from the scratch,saving up towards it or working so hard in order to achieve my aim.

The only thing that can make me take a loan is when it is related to a serious health issue,there are some health issue that requires one to take quick action before it get worse or a life threatened health challenges,but before I do,I will also make sure I have a collateral and make plans just incase I didn't make it out alive. But generally I don't like taking loans,not even for a business or investment. I have seen someone who went ahead to take a loan just for a vacation,I was shocked to be honest.

 

[King bell]

When it comes to taking out a loan, there are a number of factors that can come into play. For some people, it may be a case of needing to cover an unexpected expense. For others, it may be a matter of wanting to consolidate existing debt. Whatever the reason, there are a number of things that can make taking out a loan an attractive option.

One of the most common reasons people take out loans is to cover unexpected expenses. This could be anything from a medical bill to a car repair. In these cases, a loan can be a great way to cover the cost without putting too much strain on your finances.

Another reason people take out loans is to consolidate existing debt. If you have a number of different debts with high interest rates, consolidating them into one loan with a lower interest rate can save you money in the long run. This can be a great way to get your finances back on track.

Whatever your reason for taking out a loan, it's important to make sure you understand the terms and conditions before you sign on the dotted line. Be sure to shop around and compare interest rates to ensure you're getting the best deal possible.

 

[Good-Guy]

I would also avoid loans at all cost no matter what. However, things could be really hard sometimes and I may take interest-free loans. However, repayment of those loans could be a hard thing to do. This is why i may never borrow loans in a really excessive manner. This is why it is important to consider many things. First, how much would I actually borrow? Would i be able to pay the loan back? What if I am not able to pay the loan back? What will be the consequences of my actions? How can I pay the loan back faster? These are some of the important things that I might consider before borrowing money or applying for a loan. I do not want to get into trouble by borrowing money and not being able to pay the loan back. This is because I am already suffering from financial issues and I do not want to get into trouble further. So, I may look into many other options I could sought before even borrowing for the loan in the first place. People who take loans face problems. This is why I am desperately trying to save money as much as I can.

 

[Augusta]

I'm one person that is always against taking a loan for whatever reasons I prefer that one has a plan for a project before starting out

The plan will be saved some money for the project so that when the time is due you can use the saved money to start the project but sometimes life happens that what we had planned or expected doesnt happened the way it should then we have to go for option B.

So if you want to start a business but the capital is limited getting a loan might just be the way out so a person can get a loan to start up a business that is going to be productive you can also get a loan to invest in what will bring more profit in the future.

Loans shouldn't be taken for personal spending because you will soon get yourself into debt that you might find it difficult to get out.

 

[Miki1]

There are several pressures that can lead one to go for loan. One can take a loan for investment purpose. You can take a loan to start a business. You can take a loan because of financial crisis. You can also take a loan for education purposes. The list goes on and on. But you must have a legit reason for taking the loan.