Credit risks and business

[Yotamion]

What were you thinking about when you took a credit for opening up a business? Were you sure that you could pay it off? What are the risks of taking a credit?

[Matt B]

Well, you definitely need to be sure that you can pay it off. Many people take a mortgage, but I don’t think that it is a great option. What would be the risks? Definitely, those that you don’t have enough money to pay it off and to get in more dept. It is an endless circle. Also, you have mentioned a business, that can be great if you really know in what to invest.

[Bambale]

Everything you do in life has risks, right? So, if you know what you are going to do with that money, and if you know that you will profit than I don’t see any other option then to try? Of course, try to be as sure as you can that you have planned everything to details. You know, those so-called unexpected situations etc.

[John]

I was thinking about nothing, obviously because I went into a credit card debt and minuses. I would highly recommend you to be absolutely sure that you are able to pay off everything in your mind. Make a great plan and stick to it. If it seems unreal to you, then it probably is. But, if you are sure and have a great vision and a strong attitude than nothing can stop you.

[Yotamion]

Wow, I wasn’t expecting so many replies in a short time. Sorry for the late reply. Yes, I was asking because I am not so sure if I can pay it off completely without getting into some new problems. You guys made me think about it a little bit more…

[Matt B]

It is better to think about it a little bit more, then to get into such a risk without being at least 90% that you will get out. Also, you can talk with your friends and relatives, they definitely know you better than we do. What is that business all about? Maybe we can discuss it here, too.

[adamjonesvv]

You can never be 120% sure because we are not the only ones who control our lives, don’t you agree? You can always have some unexpected situations that will require some unplanned cash to spend, but if you think like that, you will never try to do anything in life, and of course, you will never achieve everything. What was I thinking when I started my business? I was thinking how to succeed, I was thinking that I am doing something good for my future etc.

[Michelle4y]

I don’t know guys, I wouldn’t risk that much. Maybe it is because I am such a person that loves to have some safety when it comes to risky actions. If I would need to start such a business with a lot of risks, I would consult a specialist or an adviser. I would never do it just like that and hope for the best. But, that’s just me. Sometimes, I am amazed how brave people are and what they can make from just an idea!

[Yotamion]

Yes, you are right, no one with a little brain would go with such a business with so much risk. You gave me a lot of great advice, and every each of you has a great story that also brings a wonderful point. I cleared my mind a little bit and thought about it all, now I am sure that I won’t go with such a risk. Probably, I would contact some professional advisor too. Thank you all once again!

[Author]

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