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Why You Should Not Buy Liabilities With Personal Loan
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[QUOTE="Holicent, post: 285945, member: 76163"] You should not buy liabilities with personal loan. It is not a good idea to use your personal loan for paying for any debts. You need to look at the total amount of debt and see what the interest rate is on that debt. If you are going to pay off those debts with your personal loan, then you will have to pay more than what the interest rate is on that loan. The first reason why you should not buy liabilities with your personal loan is because it will make it very hard to pay back the loan. When you have a lot of debt, then there are many different things that can happen. One of them could be that they will foreclose on your house or they could take away all of your assets like cars and other items. Another reason why it is not a good idea to use your personal loan for paying off debts is because if something happens and one of those debts gets paid off early, then it could cause problems down the road when it comes time for paying back the loans. [/QUOTE]
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Why You Should Not Buy Liabilities With Personal Loan
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