The Loan Trap: Borrow Wisely or Pay the Price

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Okay, we all have to take a loan sometime in life, some people take it to source something new and some people take it out of compulsion, everyone has a different stand, nowadays we have seen that the startups that are running take a loan against their equity and in India for the last few years, a TV show called Shak India is running in which you must have seen that the entrepreneurs who come with their business ideas or many people have already established their business and they need a loan to scale it up, which also helps a lot. Nowadays, you will find very few people who will help you without looking at their profit. I will not say that there is a dearth of such people. Many people stay in the shadows and support people, and this is a very good thing. They invest in weak startups that have potential.

Many big financial ventures do this and then invest in small startups. If they go ahead, they get a very good profit. If you are not setting up a business and you are taking a personal loan, then this can also be a trap for you. If you repay the money on time, then it is fine. If you are not able to repay the money on time, then it can become a problem for you. Many people get caught in some trap, and then it becomes very difficult to get out of it. Nowadays, you get to hear such news everywhere that people took so much loan and they could not repay it, so they committed suicide. Now, such cases are increasing very much, and people are giving priority to money only, and in such a situation,n crime has also increased a lot.

Well, many go home and also miss the wedding on time, if you miss even one loan then it becomes a big problem for you, on top of that you have to pay a lot of interest, see if you have taken a loan and you are paying the installment on time, even then the company does not get any benefit from you, they want that people skip their installment or forget it, it benefits them only, if you pay on time then the company does not get any benefit from you. So when you need to take a loan, then only you should take it, otherwise, you should have a plan to hide it, if you do not have any of these,e then you should avoid taking a loan and especially from any company.

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