Stop Digging
One problem people have when they start getting in over their heads is that they keep on borrowing to cover the deficit. They will use one credit card to pay off another or they will try to get money from family and friends. You must stop digging this hole and making it bigger. If you are in debt and feel afraid about your situation, the first step to recovery is to stop borrowing!
I hate to borrow from bank or from someone. Its just make my keep raise my debt. I don't like it!
Its better you learn how to make your earning grow always..
^ i aggree with you dude. I also dont like to barrow from banks, because in the end, it all just comes back on me.
Borrowing from banks when you don't have any sound investment won't work? and by the way what is the purpose of you borrowing from bank? they won't let you get money if you not have a posiblle good proposal for a busines loan or something? ay way been there but i always make it a point to invest the money i owe to a business that would generate more profit than the interest i get.
If i really need want to buy a house, might be i will use that bank to get the loan. But of course i need to pay all my loan first before i make a new loan. but i hope i can use my own money to buy my new house and car. No need to use loan. Some people make loan to join some investment. I hope they not do a big mistake by doing that.
That is a great advice and ihave to say i think this is the first step to getting on the right way when you are afraid about your situation.Sometimes you don`t have to return the loan to your family but you can`t do it over and over again.Get an extra job or something but stop borowing.
I guess we can't think straight when the bank starts pressuring us in meeting those loan payment of ours. You won't know how one would feel if you aren't in such a position before. You will resort to any possible ways to get the money to pay them. After all, we are the one who owe them money. It is our faults in the first place of not meeting those loan payments. If we don't borrow, where else can we get the money? Maybe by declaring bankruptcy is the best method as we no longer have to make any payments.
I got into this cycle once and never thought I would get off the merry-go-round. Once you begin it's difficult to stop.
It's so easy to just go and try to get a loan. I've done it too many times. I know the feeling of having your back to the wall and just needing an extra $200.00 and not having a source from which to call upon.
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