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.
Upcourse it is. First of all it give us pleasure. When it comes time to repay the loan, it's very difficult.Some of the organization taken loan from bank for some emergency. After those bank want to get back before overdue. This is simple and In case of loan of personal the situation is same.
Even if one dies without food, one should not taken a loan.