Do you have any kind of short term loans?

[nomad]

Loans having a term of less than 12 months is usually called short term loans, do you have any kind of short term loans? Why did you borrow this loan, for personal finance or for business/investment?

 

[King Belieal]

My mom just took a loan to help her fix her car. And she is supposed to pay back within 6 months with a total interest of 10%.

 

[Sanjeev]

No, I never took a loan as I never want to exert myself for loan.

 

[Springtime]

I have never taken out a loan other than the mortgage loan when I bought my apartment years ago. I have already cleared the loan three years ago. I do not like to borrow money except I use credit card for cashback.

 

[Stardom22]

In a matter of fact that's my very types of loans. Whenever l need one l would take one because of the flexibility in the repayment.

 

[King Belieal]

In a matter of fact that's my very types of loans. Whenever l need one l would take one because of the flexibility in the repayment.

How are you able to manage loan repayments and the burden of meeting up with everyday survival. Does it lead to financial crisis for you?

 

[Shavkat]

I have a short-term loan and it needs to be paid for 6 months. It was not that heavy to pay it monthly.

 

[Cam]

This reminds me of those cash advance businesses that are all over the place. I avoid them like the plague.

 

[Fidelia]

I personally avoid all those short term loans especially from loan sharks. Their terms are not always transparent. I don't have any loans at the moment.

 

[Hate2Wait]

I think having a credit card is equal to having a short term loan, only thing is we need to pay on time and if not then we need to pay a penalty for that.