Are you facing issues of clearing outstanding loans??

[Bookwormlux]

My thought process is in a way that I try as much as possible to avoid loans as I do not like that idea of always struggling with trying to repay, most especially these days where a lot of lenders want to suck their beneficiaries dry.

 

[Sotherefore]

I don't have loans to pay back. That is what I always try to avoid as much as possible because loan will not take me anyway and I don't even have it in my mind to get loan for anything anytime soon.

 

[Sincerem]

I am so discipline in that way that I do not take loan so easily for anything. I thank God for my life that I do not have any outstanding loan to clear. Loans sometimes put a lot of stress on you and that is one of the reason I tried to avoid it

 

[tyrim88]

Yes this is what almost every poor person and weak businessmen are facing . first of all you shouldn't start any business with taking huge amount as borrow or dept. Just start yiur business by equity or the money in your pocket. If you take borrow and get loss then it will be panic situation for you. And you won't able to recover and clear that borrow. Nice article this is .

That is basically one of the things i usually advice persons that are just going into a ne start ups to aviod by all means,because they have not properlly structured their business in terms of understanding the cash flow and financial nature of their outfit.

 

[Sotherefore]

I do not just want a situation that I be in serious debt because it's slowdowns people's problems. I tried to raise money as much as I can to carry out everything or responsibilities I have to take.

 

[nana kwasi]

Yes, practically all low-income individuals and inexperienced business owners deal with this. First and foremost, you should avoid starting a firm with a sizable loan or debt. Just use your own money or equity to launch your firm. If you borrow money and end up losing it, you'll be in a panic. And you won't be able to pay off and recoup that loan. This is a nice article.

 

[Mighty]

Well why not this is what almost every poor person and weak businessmen are facing . first of all you shouldn't start any business with taking huge amount as borrow or dept. Just start yiur business by equity or the money in your pocket. If you take borrow and get loss then it will be panic situation for you. And you won't able to recover and clear that borrow.

 

[Agbalagbaa]

If you are good at taking loans you'll definitely have problem taking it back, that's why I don't really like the idea of taking loans in other to start up a business.

 

[nana kwasi]

Absolutely, it is very difficult to sustain and establish a firm to the highest level when someone starts one by borrowing money from others. Since the firm would be under pressure to return money, he won't be able to give the expansion of the business his whole focus. Therefore, it's preferable to start it with some of your own money.

 

[Rolly_blen]

I know how swashbuckling it is when we clear all our debts. But when fazed with too many debts, life becomes unbearable. Its never advisable to take loans when you got no genuine reasons for taking it. We are advised to take loans when we got clear reasons for it. To establish something profitable with it in the future. Cos the repayment interest is astronomical when we didn't make anything tangible from the loan we took. Instead of taking loans for your first business start up when you got no experience for what you are starting with. You should rather choose to save. Cos that loan borrowed might not drive you success as you proceed with your business initiative. You will force yourself into achieving two things at the same time.

* Making fast profit to repay the loan terms.

That might make you to take the risk you don't suppose to take. Which might ruin your chances of success. So it is better you start it up with the capital you raised on your own. Even if its in a small scale, you should start it up. Knowing that you are not repaying for any loans, rather you are working to balance your business and keep cash flow of the business steady.

Several individuals prefer to start their own enterprise with a loan in order to achieve substantial success, but often forget that if the business fails, starting it with a loan still reflects badly

 

[Sincerem]

Several individuals prefer to start their own enterprise with a loan in order to achieve substantial success, but often forget that if the business fails, starting it with a loan still reflects badly

People preferring to start a business with a loan other than their personal savings indicates that they may not have an understanding of what business is all about, in any case they have the right to do as they like but the risk is what I am concerned too.

 

[Alisco]

Having an outstanding loan balance is for a reason of business set back. I have been owing a huge some of money Wich took me a long time before I am able to repay. Truely speaking I suffered business set back because I used almost all my earnings to repay that outstanding balance

 

[Shigobad2020]

Trying to settle a loan normally brings major set back to the business most especially if the loan keep increasing to the fact and point that you cant handle it anymore .

 

[Good-Person]

I know how swashbuckling it is when we clear all our debts. But when fazed with too many debts, life becomes unbearable. Its never advisable to take loans when you got no genuine reasons for taking it. We are advised to take loans when we got clear reasons for it. To establish something profitable with it in the future. Cos the repayment interest is astronomical when we didn't make anything tangible from the loan we took. Instead of taking loans for your first business start up when you got no experience for what you are starting with. You should rather choose to save. Cos that loan borrowed might not drive you success as you proceed with your business initiative. You will force yourself into achieving two things at the same time.

* Making fast profit to repay the loan terms.

That might make you to take the risk you don't suppose to take. Which might ruin your chances of success. So it is better you start it up with the capital you raised on your own. Even if its in a small scale, you should start it up. Knowing that you are not repaying for any loans, rather you are working to balance your business and keep cash flow of the business steady.

I never take loans and this is why I usually do not feel like being too much burdened with money or loans. I always try to avoid and prevent bad debts most of the time and borrow money that I could afford to pay.

 

[frederick_9]

The loan collection process is really worrying.
Loans are really bad, especially if you take them out to establish a business or buy a car.
Because of the rate of interest the loan has accumulated over time, so many people have been impacted by accumulating loans that they ultimately are unable to repay.

 

[Rolly_blen]

People preferring to start a business with a loan other than their personal savings indicates that they may not have an understanding of what business is all about, in any case they have the right to do as they like but the risk is what I am concerned too.

The risk factor that comes with taking a loan is simply gargantuan. The attachment of a collateral which is up in the air depending on whether you default the loan payment does not help either.

 

[Shigobad2020]

Currently I have an issue with online loan , I was unable to meet the deadline of the stipulated time given to me by the online loan and the money keep increasing everyday until i was able to pay up the loan .

 

[Sincerem]

I never take loans and this is why I usually do not feel like being too much burdened with money or loans. I always try to avoid and prevent bad debts most of the time and borrow money that I could afford to pay.

If there is a where you can try to prevent it when establishing a business , please try to do it because he is one of the major reason why so many people have difficulties succeeding in business.

 

[Sincerem]

The risk factor that comes with taking a loan is simply gargantuan. The attachment of a collateral which is up in the air depending on whether you default the loan payment does not help either.

Getting a loan will definitely needs you to have a collateral. But in most situations the collateral could be sold and used the funds to establish a business and have a peaceful mind. I don't like loans.

 

[Mohammed Rashid]

Sometimes we borrow in the hopes that everything will work out as we had hoped, but it often does not. We may be left scrambling to settle unpaid bills as a result of this. Anyone can experience this. just need to be cautious