I personally did not face such problems, but I saw a lot of people who did exactly that. After all, they did not earn enough to repay their first debt and they had no other choice but to take another loan from another bank in order to pay off the first one, because the payment term had already expired and they could start having problems with this bank. I think it’s a vicious circle because it will be a continuous mechanism until people start earning more than she needs to pay
I don't think is possible but if possible taking out another loan to cover an existing one It can create a cycle of debt, potentially leading to a greater financial burden due to additional interest and fees. It's crucial to carefully assess your financial situation, explore alternative solutions, aRead more
I don’t think is possible but if possible taking out another loan to cover an existing one It can create a cycle of debt, potentially leading to a greater financial burden due to additional interest and fees. It’s crucial to carefully assess your financial situation, explore alternative solutions, and consider the long-term implications before making such a decision.
See lessIn trading it's called martingale strategy, be careful with such things, especially if you're not sure of paying back, only take loans when it's super important or emergency, most people take loans to finance their lifestyles and at the end of the day they find it hard to pay back or employ counterRead more
In trading it’s called martingale strategy, be careful with such things, especially if you’re not sure of paying back, only take loans when it’s super important or emergency, most people take loans to finance their lifestyles and at the end of the day they find it hard to pay back or employ counter productive measures of paying back like the one you listed above.
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