What is your favorite way to repay multiple loans?

cherry123

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• Sep 5, 2024

• #21

With multiple loans to pay. You can start with paying the old debts first but if you have your way you need to stop borrowing

 

Hate2Wait

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• Sep 6, 2024

• #22

I haven't taken any loan but it does get tough when you know you have to pay an EMi every month for a long period

 

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Ratine

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• Sep 13, 2024

• #23

One that has multiple ways of income ought to pay their loans so seamlessly for that matter.

 

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Stardom22

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• Sep 13, 2024

• #24

For me l can say that the taking of multiple loans is very risky for sure.

 

Kera

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• #25

That multiple loans would pressure the living daylight out to me. I just know I can't manage them and I won't take them.

 

Hate2Wait

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• Sep 14, 2024

• #26

I am not sure if there is any favorite or non favorite way so you should just pay all your loan EMIs on time

 

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Passiveearner

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• Sep 14, 2024

• #27

I would rather avoid taking loans. If I ever borrowed money, then I would make sure that I am not dealing in Riba. Paying multiple loans require you to create a budget.

 

Hate2Wait

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• Sep 14, 2024

• #28

Ideally we should avoid to take any loans if we didn't need and should try to manage from the available resources because it's an unnecessary burden

 

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Stardom22

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• Sep 20, 2024

• #29

The fact of taking out some loans is very risky and people should really be very careful when dealing loans

 

Hate2Wait

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• Sep 21, 2024

• #30

We should repay back the loan of respective banks or financial institutions as per the terms and conditions and if we can then we should prepay

 

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Ratine

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• Sep 21, 2024

• #31

Taking of multiple loans is like a suicidal for sure. One should at least take one loan at a time.

 

Hate2Wait

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• Sep 21, 2024

• #32

It's not wise to go for multiple loans but if you have then you should first try to pay on time and also consolidate loans to a single bank

 

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Passiveearner

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• Sep 22, 2024

• #33

Managing and diversification of loans is the key here. You must also try to get rollover of payments of you are not able to pay the loan but always make sure you apply for interest-free loans.

 

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Stardom22

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• Oct 11, 2024

• #34

Multiple loans are very disappointing for sure. I bet people can get so frustrated on that situation.

 

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Rubz

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• Oct 11, 2024

• #35

I do not have multiple loans. I do not have a loan at all. I believe one should do various online tasks to be able to pay up multiple loans.

 

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Fidelia

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• #36

I have never had multiple loans but I believe that the best way to repay multiple loans is to rank it in a scale and pay per time.

 

nomad

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• Oct 12, 2024

• Thread starter
• #37

Stardom22 said:

For me l would start by repaying back of the smaller loans onwards. I would clear all of them promptly.

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What if your small loans have lower interest compared to big loan, would you still pay small loans and focus on high interest loan later?

 

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Stardom22

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• Oct 15, 2024

• #38

Multiple loans are not really recommend because they are mostly likely to lead one into bankruptcy