Do you believe that loans are very addictive, and once you get into it you are trapped?

[Stardom22]

ln my region majority of the low to middle income earners believe that loans are very addictive and once you dive into it you can never bail out of that ditch. Does that narrative have any sense to you?

 

[Starmix]

I experienced loaning once only. It was just an experience being new to work and tempted by my colleagues. But instead of waiting for it's full payment for one year I paid all after 3 months. Those who are addicted to loads are irresponsible people, no self control.

 

[eLdavis]

Yes taking loans can be very addictive if there is no proper discipline. I have seen people who started borrowing and could not stop.

 

[Starmix]

Some loaners lack discipline after the loan is granted, escaping the paying time or not paying at all. They will be sued and might get a jail sentence. If not a sheriff confiscates their resources or assets.