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Abigael
AbigaelTrusted Adviser
Asked: August 24, 2023In: Money & Business

What is bad debt and how does one get out of it?

What is bad debt for you? For me, bad debt is that the debt you get into without a good plan on how to pay it back. Especially if you are taking it to satisfy your desires or for luxury. I ...Read more

What is bad debt for you? For me, bad debt is that the debt you get into without a good plan on how to pay it back. Especially if you are taking it to satisfy your desires or for luxury.

I would like to know what you understand by bad debt. Could you also give some suggestions for how to get out of it?

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  1. Alhamdu
    Alhamdu Active Contributor
    Added an answer on September 27, 2025 at 8:50 am

    Bad debt alone you collect or money you collect unnecessarily without a reason for collecting and without a source to pay back the money if you found yourself in the situation the best thing to do is to start something that you will earn money and pay back the loan because if you stay IDeal there isRead more

    Bad debt alone you collect or money you collect unnecessarily without a reason for collecting and without a source to pay back the money
    if you found yourself in the situation the best thing to do is to start something that you will earn money and pay back the loan because if you stay IDeal there is no way you can get the money to pay back the loan you have collected so starting a business is what will help you in this kind of situation.

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