Everyone is aware that debt is not a good choice, still, in most situations, it is the only tool to survive or succeed. The desire to have rapid development could be one of the factors that motivate governments of developing countries to take loans. However, when the said money ends up in the pockets of the rich upwards of the beneficial projects funds, then that hope turns into a multi year burden. I am of the opinion that credit is a good thing when it is approached on a level that is honest, transparent, and it is calculated in the very first place.
It is not enough to say that it is the system or high interest rates since the intention and further steps each person makes after receiving the loan are the real problems. With the wrong initial objective, the outcomes will prove to be burdensome to the people. However, when we plan ahead of ourselves, compute the risk and make good moral in using the money then debt can become a great leap and not a pit. I believe we can change a lot of other things as well when honesty and responsibility are not compromised in the middle of the way.
Speaking about the loans, it must be said again that taking a loan is not a bad thing because most of the big companies expanded their companies by taking loans in their early stages. And for some logical reason, taking a loan is often a wise thing to do because every now and then, there is an opportunity in business, and there is no guarantee that that opportunity will always come, so even if you don't have the money, it is wise to arrange for a loan.
But at the same time, I would also say that these things are fine as long as you are buying the things by loan just for showoff.
When talking honestly borrowing is not a good thing, that is correct, if you can do it yourself it is much better, which means that you without loan money are able to have excellent progress, but it is true that everyone is not in the same condition, they need a loan to encourage them to stay alive because they do not have money to buy food, it is not a problem if able to pay for it later, (do not destroy the loan laimmer trust).
In some circumstances the company is also the same, they do need loans to make them develop or take certain opportunities in the conditions of the condition when they do not have enough money but need a large dwarf in front of the eye, so if you take into account the risks and also the benefits gained are much greater, then taking the proper choice is the right choice.
The loan depends on how you use it and for what the purpose is that of course must be far more useful, but what needs to be considered as well, loan interest, lenders and loan contracts, do not pass through small things, many traps that might kill you.