What financial difficult that makes you to take loan

[magnus2022]

People don't take loans simply to gratify their pleasure like using loan to party or go vacation. We take loan when we are under serious financial pressure! The last time i collected loan is during a general family meeting when we are planning how to share my father property among his children. I have no option than to take the loan and make sure everybody get his or her own share of the property.
What financial pressure make you to take loan?

 

[Starmix]

Thankfully, I haven't experienced applying for a loan but I experienced to co - make my colleague which I regretted because she didn't pay her loan regularly. The bank called my attention as a co-maker pressuring me to pay my maker's loan, but I sought advice from a lawyer and the lawyer told the bank manager that I was not obligated to pay considering the maker as still alive, unless dead. I reported my colleague to my boss and she was told to pay her loan or else, she will be kicked out. She sold her appliances and borrowed money to her relatives. Her credit reputation was damage, and also our friendship.

 

[eLdavis]

One thing that makes people take loan is cases like when they do not have enough funds to pay bills like rent or children's school fees.

 

[Springtime]

I seldom take a loan except when I bought my apartment which I took out a mortgage loan.