Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
New articles
New article comments
Latest activity
Earn Money
Money apps
Passive Income
Paid Survey
Forex
Stock
Real estate
Paid to write
Social Media Earning
Review Website/Apps
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Retirement
Personal loan
Savings for Students
Debt help
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Business Ideas Forum
Funding a business
Why do people fail to payback their loan?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Jasz, post: 232325, member: 61772"] People fail to payback their loan due to many reasons. Let us take a deeper look into some of them: 1. Loan amount is too high: This is the most common reason among all. People take loans which are too high for them to repay back. They think they will be able to pay it back when they receive their paycheck, but they don’t consider the other expenses they have to cover with the paycheck. For example, an individual took a loan of $100000 and he was expecting his monthly income from his job will be $9000, so he thought he could easily payback the loan amount in 12 months. But what he did not consider is that his monthly expenses are about $8000, so obviously, paying back the loan amount of $100000 in 12 months is not possible with an income of $9000 per month. 2. Expenses are too high: This also comes under the above-mentioned point. If your expenses are too high then you won’t be able to payback your loan amount even if it is low enough for you to repay back within a short period of time. For example, an individual took a loan of $20000 and he was expecting his monthly income of $9000, meanwhile he already made expenses of $75000 before month end. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Business Ideas Forum
Funding a business
Why do people fail to payback their loan?
Top