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Frequently Asked Questions - borrow

FAQs - borrow

Possible reasons: 

  • some individuals run into financial difficulties 
  • some individuals are spending ‘beyond their means’ 
  • some individuals may be more aware of what is available from financial institutions 
  • some individuals may be better able to pay the money back 
  • some individuals may be able to provide more security 
  • some individuals may have a need of money for a very short period of time, e.g. until the next pay day 
  • some individuals may have a greater need for something, e.g. a car or a holiday and borrow for the medium term to pay for it 
  • some individuals may wish to buy a house and may borrow for a long period of time, e.g. a mortgage to purchase a house which is often for 25 years. 

 

TAGS: borrow

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