I'm skeptical about taking a loan

Greetings everyone 🙌!


I think I should count myself among the scariest people on earth to take loans even when I know it's a good practice and there's nothing inherently bad in it.
Most times, taking a loan helps in establishing a business or making a profitable investment. I have someone who always preaches about the goodness of taking loans, and each time, he makes reference to; if someone is working in a firm, taking a loan and using it for a business that is sure of profitable returns is a very good idea, and the loan will be debited from the salary on a monthly basis. Also, with a loan involved, it is very hard to sack such a person... that's using style to secure one's employment/job.

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To be sincere, I know all of these, but I'm still scared whenever it comes to taking out loans; it's a risk that I'm always skeptical about taking because a lot of "what ifs" are always sounding alarm bells in my head.

Notwithstanding, the last time I took out a loan was four years ago, and it was from an online loan company called 'CARBON'.

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There was a project we were working on, and I had no money with me, and I didn't want to slow down the process. So, I made the move of registering on the app, and I was given N10,000 (Ten thousand Naira) to be returned in a month's time with very little interest. I was so sure of paying back before the deadline because I was expecting some money, and also before the deadline, the project I took the loan for must have begun to yield profit. It was really a very calculated risk, and I had no cause for alarm in my mind.

Unfortunately, just two weeks into the project, the person I was doing the project with played me and ran away with the money. It was like a movie because I couldn't believe it. The money I had with me at hand was used to settle other things, and I was left with absolutely nothing. When the loan matured (in one month's time), I began to get unlimited messages from them.
Before then, I'd heard of situations where loan companies call and threaten debtors to pay back, so I was hoping to clear it off before it got to that stage. But the more I hoped, the more the money I was sorting for kept running away. Although the messages I was receiving weren't threatening, the manner in which they were coming was bad about it; they were coming every morning, afternoon, and night.

After like a month of playing deaf ear to their messages, I gathered half of the money to pay, and I was relieved for a week. Immediately after the one week elapsed, the messages returned in a very rampant manner. I couldn't take it anymore; I just sacrificially sourced for funds and cleared up to keep my mind at rest. I imagined them calling; I imagined them tracing me to my house, but I never let that happen.

I'm just too scared of loans because of the shortcomings.

Thanks for reading.


This is my entry to the Week 111, Edition 03 of the Weekly Featured contest in Hive Learners Community



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2 comments

Actually taking loans isn't really the issue. The aftermath/ emergencies that causes us to default in payment are the issues to be dealt with . Problems with loans comes with default in payment and these are usually unforseen circumstances.

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