Are you facing issues of clearing outstanding loans??

[Jlife]

Its good you're getting funds in your own way without looking to the bank for assistance. Cos bank loan poses a threat when repayment isn't met on time.

I do not even have the money yet but I am working toward earning my own money to start up my own business, that is just the reason I combined online earning and offline work at the same time

 

[Sincerem]

I do not even have the money yet but I am working toward earning my own money to start up my own business, that is just the reason I combined online earning and offline work at the same time

Its good as you're combining the both to enable you earn something tangible to carter for your bills. That's the essence I'm working online too.

Post automatically merged: Aug 1, 2021

Facing issues on clearing outstanding loans can be very tiring at times which needs to be tackled and settled immediately to stop the outstanding loan from increasing , the solution is to make sure you are making steady profit to settle the debt,

Yes, if you're making reasonable amount of money then it is very much possible to be debt free provided you don't spend money out of control.

 

[Sotherefore]

I can never be in debt because I have plan out my life to a point that no matter how things might be difficult, I always have some money to take care of all my need .being in debt is not good for me.

 

[gammarays]

I do not even have the money yet but I am working toward earning my own money to start up my own business, that is just the reason I combined online earning and offline work at the same time

I think this is a better alternative to taking loans especially if it's a small amount of money. It gives you peace of mind since you're not owning anyone and you won't be under any pressure.

 

[Abigael]

I am glad that I finished off my biggest debts last year December. I had stayed with them for almost the whole year. So I really understand how hard it can be to pay back a loan. That is why I am trying my best not to take loans anymore.

 

[Jlife]

Its good as you're combining the both to enable you earn something tangible to carter for your bills. That's the essence I'm working online too.

Post automatically merged: Aug 1, 2021

Yes, if you're making reasonable amount of money then it is very much possible to be debt free provided you don't spend money out of control.

Yes, i have raised some money to start up whatever I am interested to start, it's just a matter of time for me to make the required money, I dont know if I'm going to do it online or offline but I will get it.

 

[Yusuf]

Repaying loan is very hard especially when you borrow the loan to setup a business and not to expand a business. If someone borrows money to setup a business and the business need expansion and one need to repay loan it will affect each other

 

[Jlife]

I think this is a better alternative to taking loans especially if it's a small amount of money. It gives you peace of mind since you're not owning anyone and you won't be under any pressure.

Living a life without debt is the best,it depends even the little one I have been owning people here (although they are my siblings) I always feel unable to even return it talkless of millions or thousands of naira..

 

[Richard92]

Honestly speaking I have been in that boat before and I Know how hellish it could be when you have various deadlines for your various loans obligations, it can be devastating, my advice is that don't take a new loan to repay the old one, if you try that you would keep going neck deep into more and more debts.

Yes most people face challenges for clearing outstanding loan because of the high interest rates which has been added to the loan why most of them is for selfish reasons.

 

[Peace elijah]

Yes am really facing issues of cleaning of outstandning of loans because it's not just easy right from the pandemic till this moment because it really affect businesses and we haven't get over it till this moment

 

[Josemendez]

I do endeavor to try as much as possible in avoiding loan but in situations whereby I am unable to avoid it , I normally draw up a repayment strategy that helps me to pay up faster.

 

[Bousine123]

Yeah bro. Sometimes I regret taking those loans in the first place. The one that's currently on my neck is for a money I borrowed to do a business.

 

[Chibson]

Taking of loans is one thing I don't like because of the financial burden that will be on you especially if you don't have any means of paying back.

 

[jeff87]

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 believe you are right. Its hard to make the business grow from a loan. The owners have the driving force to pay off all the debts. Meanwhile if the business starts without the loans, they can push the small business to grow from little capital. Just make sure that the small capital turned into a big one that can spur more the growth of the business.

 

[Shigobad2020]

Facing challenges in paying outstanding debt in business is inevitable for a poor business man that has no connecting of starting a business, and making sure of paying the loan with your profit is the best thing to do,

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.

 

[Razor1911]

I believe you are right. Its hard to make the business grow from a loan. The owners have the driving force to pay off all the debts. Meanwhile if the business starts without the loans, they can push the small business to grow from little capital. Just make sure that the small capital turned into a big one that can spur more the growth of the business.

At the initial stage , it is never recommended to take loan. Sometimes the profit might be low in initial stages, and to repay installments will be tough at the time. When the business starts to grow, then only we can go for taking loan.

 

[Ralphjoe]

The idea of taking loans for a business is a terrible one, really, especially if you are brand new.

You are right about using your own finances, no matter how small to fund your startup.

Another I suggest is borrowing from non-interest sources like close family and friends. There's no pressure and they will even support you if it fails.

For real I wouldn't advise anyone to take a loan for a startup business I've started business have a high tendency of failing for the very first time so the best way for anyone to seek for Capital for a startup business is true family members or Friends.

 

[gammarays]

Living a life without debt is the best,it depends even the little one I have been owning people here (although they are my siblings) I always feel unable to even return it talkless of millions or thousands of naira..

Yes nothing beats a debt free life. Debts take us back and delays us from saving or investing. Better to live with what one can afford than to borrow. Borrowing can only be viable for pressing needs or to improve one's business.

 

[Tolumi]

Having issues clearing outstanding loans is a very big issue that you will always find it difficult to get free from. It's like someone thrown into a pit filled with miry clay as you try to get out you sink deeper. A loan is best avoided if you can.

 

[Jlife]

Yes nothing beats a debt free life. Debts take us back and delays us from saving or investing. Better to live with what one can afford than to borrow. Borrowing can only be viable for pressing needs or to improve one's business.

Yes,i also understand that some people who are not satisfied with what they have and those who are not able to manage their resources at the people that will find themselves in a serious debt.we really need to be guided.