Can't we live without debt burden?
May 19, 2016 10:44pm CST
Just about everyone is likely to ask for loan simply because they earn is not enough to cover their cost of living or they may want to buy something like cars, houses or others that require a huge amount of money. But most of them borrow money mainly because their income is far much lower. Banks are institutions people rely on to get funded. Nowadays, loan requirements are made a lot easier, especially to those having fixed regular income like civil servants, members of army forces or police, pensioners. For these people, banks only require their employment decision letters that state their appointments as employees or pensioners. Loan terms are even extended from 5 to 10 years. So, with extended terms of the loan, debtors can have as much money as they plan to have. What if they fail to pay off their debt due to accident or illness they experience? The answer is all debts are insured. Banks do not want to lose their money. Can we live without having to borrow any money?
20 May 16
I can understand what you are trying to say here. I also have a loan on my head and I can't wait for the day that burden will get over. I regret taking that loan everyday. It's really better if we don't have any loan. That thought of paying the installment will never let you live freely and spend freely.