How Do Pending Loans Impact Individuals Financially?
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Financial Stress
Pending loans can cause significant financial stress for individuals.
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Credit Score Problems
These can negatively impact credit scores and future borrowing options.
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Less Freedom
With Money
Having pending loans may restrict one's ability to make significant financial decisions.
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Legal Consequences
If you don't pay loans back, you could get into trouble with the law.
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Missing Out
On Things
Having unpaid loans might make it harder for you to get things like credit cards or loans in the future.
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Paying More
Over Time
If you wait too long to pay, you'll owe more money because of extra charges called interest.
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