Well, I have to clarify that personally I have never had any loan or debt in my life so this thread has nothing to do with my experience but intends to find out how people in loan/debt deal with the problem. Let's say you take loans from a bank and sometimes for whatever reason, you can not pay the debt on time, then you borrow money from other channels. Sure this works for a certain period but later bad things may happen, you have to postpone the payment and struggle with finances again. Isn't this a vicious circle ? How would you deal with the problem ? I am all ears.
Loan is a curse as when you take loan you are just frustrated as it's easy money and toy will spend or loose it more easily than hard money. So that's why I never take loan's etc. And also there are high interest rates on these loan's too. That's why I avoid them.