What are the implications for taking loans for the purposes of repaying a debt?

[Stardom22]

There are some individuals that operate in a way that they take some loans to repay debt that is currently under pressure.So according to you, can you take loans to service existing loans?

 

[Springtime]

I think taking out additional loan to repay a debt will end up in a vicious cycle. You are always in debt.

 

[Augusta]

Being charged a Lower Rate of Interest. The interest rate charged is usually lower than the current personal loan interest rates.

 

[Kross]

That's how chain of debts really starts. Find a way to plan, earn and pay your debts without having to borrow to repay debts.