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.
First of all, unless I am in too much danger, I will not take the loan because it is very difficult to carry around with this debt burden. Borrowing is my last resort. I will borrow when I realize I have no choice but to borrow. And after accepting the loan I will try to repay the loan within the time given by the lender. Paying off the debt will require me to focus on more work and work longer hours than before so that I can pay off my debts on time. Because if I can't pay the loan on time, I may face a lot of pressure from the lender or the bank, that's why if I ever have such a situation, I will definitely try to pay the loan as soon as possible.