Question

How do people incure debts and loans

Answer 1

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Top 6 Ways to Pay Off Any Loan Faster

1.Make Bi-Weekly Payments. Submit half the payments to your lender every two weeks instead of the regular monthly

2 payment. ...

3Round Up the Payments. ...

4.Find Extra Money. ...

5.Make One Extra Payment. ...

6.Refinance Your Loan. ...

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Answer 2

There are several situations where it makes sense to incur debt. For example, it may be advisable to improve or protect cash flow or to finance the company’s growth or expansion. According to the IFC Banking Knowledge Guide, “in these cases, the cost originated by the loan can be less than having to finance these actions with current revenue.”