Quote from: Ranly123 on October 26, 2018, 07:51:54 AM

Quote from: Stedsm on September 10, 2018, 01:18:47 PM

I'm unable to find a precise classification and/or similarity between the two words - debt and loan. Should we consider debts (where people are helped financially or in a way they want that help - and they need to pay it off either in instalments or at a go, be it through paper money or by any other means according to the agreement) as loans OR Is there anything that could help us classify both these terms and show some dissimilarities and differences between them?

Loan should be considered as debt because it's still should be paid by the debtor. I don't know exactly how to explain how they are similar but based on my own narrow understanding, yes there are similar in nature.

I do not think their is any major difference between both the terms if any . Both are same itself to be true as both needs to be paid at the end of the day along with the interest from the person whom you have taken it. Also staying away from the debt/loan is beneficial as you would never have to be in tension to replay it on time or else interest will keep on accumulating on it.