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Funding a business
Why do people fail to payback their loan?
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[QUOTE="Ajebo25, post: 231565, member: 71631"] For me I always ask my self this questions before taking a loan "where will I get money to pay back" without this thinking you will not only borrow more than you need but at the end of the day you won't be able to pay back the loan which shouldn't be so. You should also have a backup plan in case things don't go as planned or in case you don't get the money from where you hoped to get it to pay back you will be able to use your plan B and know what to do next. Another thing is that you shouldn't borrow money which you won't be able to pay back some people borrow loan with the intention of running away after getting the money this shouldn't be so, you should borrow an amount that even when the bank or wherever you took the loan comes for the collateral you won't be left with nothing. [/QUOTE]
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Why do people fail to payback their loan?
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