Why Interest-Based Loans Should be Avoided To Control Debts?

[Good-Guy1]

Debts are quite common. Each and every business or person tends to encounter debts to some extent and this is why dealing with debts is one of the most common things in the world. the fact of the matter is that there should be certain ways you could possibly avoid debts. So what are those ways?

Avoid Taking Loans

This is one of the best ways to avoid debts. you could avoid loans or take loans only when you need them in the first place. It is much better to avoid loans when you do not need them. The fact of the matter remains that many businesses rely a lot on loans and this is also one of the main reasons why they get into debts.

Avoid interest-based Loans

his is also one of the main reasons why so many people get into debts. they take interest-based loans and the high interest rates usually make it impossible for many people to pay the money back and many people have harder time coping with issues associated with this problem.

There might be some other reason for why people may get into debt and they may struggle with their debts. So, what are some of the other ways you could avoid debts and prevent the bad debt in many cases?

 

[saoussen57651]

Sometimes you go to pay someone money for merchandise and there is still for example less money than the hole some like for example bill is 10,000 neira and you have 9000 neira then merchant could accept and credit 1000 neira as debt, this is possible however it must be not ofthen otherwise the debt will be increased and then go to loans with interest or something like that.

 

[Good-Guy1]

Sometimes you go to pay someone money for merchandise and there is still for example less money than the hole some like for example bill is 10,000 neira and you have 9000 neira then merchant could accept and credit 1000 neira as debt, this is possible however it must be not ofthen otherwise the debt will be increased and then go to loans with interest or something like that.

Do you also use the Nigerian Naira in Tunisia as well?

 

[saoussen57651]

Do you also use the Nigerian Naira in Tunisia as well?

This is just an example and not local currency of my country is neira to let things more simplified as a lot of users in this platform are nigerian one. If you talk with another currency people will not understand what you are trying to say.