The worst time to borrow money is when you are in need or in crisis. If you have an option that can make you ensure that phase it's best to avoid the loan taking that loan is not going to solve anything instead it's only going to make it worse. If rich people can get into debt problems how do you think someone that's poor can handle it especially if taking loans that has to do with paying back interest
Even if you call this the worst time to take out a loan, I would say that only in such situations should we take out a loan. Otherwise, in other situations, we can get by without taking out a loan.
I would say that taking a loan is not a bad thing in these cases when you are in a very critical situation, but we have to remember that money management has to be done in such a way that we do not have to face such a crisis situation, in this case we have to reduce our overspending.