Do you recommend anyone to take a personal loan?

[Stardom22]

For me l can say that loans are not for everyone. I personally don't reccomend anyone to go for loans because loans are very risky and can lead to bankruptcy.

 

[Springtime]

I personally do not like to take out personal loan. But if you need money for emergency purposes and you do not have an emergency fund, you have no choice but to take out a personal loan.

 

[Stardom22]

I personally do not like to take out personal loan. But if you need money for emergency purposes and you do not have an emergency fund, you have no choice but to take out a personal loan.

The problem with the current personal loans is that they do charge higher interest rates on loans and have unfavourable debt collection procedures.

 

[Starmix]

I will never recommend anyone struggling for money to apply for a loan. The more the person suffers financial constraints. It's better to recommend to look for 4 jobs .

 

[Springtime]

The problem with the current personal loans is that they do charge higher interest rates on loans and have unfavourable debt collection procedures.

Here, the lending institutions made it easy for you to apply for the loan. But if you delay repaying even for 1-2 days, they'll give you all kinds of troubles.

 

[eLdavis]

Taking of loans is something i would always want to avoid, so i would never encourage anyone to take a loan.

 

[freelancermaria]

Taking out a loan is not suitable for everyone, as not everyone can repay it later. If you cannot pay on time, it will accrue interest and can become a burden, for sure.