Loan can makes you addicted ?

Let's imagine you get some loans from the bank, and you cannot pay them back for some reason, so you borrow money from other sources. Sure, this works for a while, but later, horrible things could happen.

If you request more than your limit, borrowing money could become addictive. Because of the higher interest rates, taking out a second loan just to pay off the first one will just cause you to rack up more debt.

That's the reason why some banks merely requested a pay certificate and bank statement. If you have a strong wage package, banks would usually grant your request otherwise they reject

The only approach to deal with this problem is to work harder than usual to generate enough money to pay your bills on time while saving.

Taking loans to repay other loans is a very bad idea especially if the new interest rate is higher.  Any sort of addiction is harmful and ruins our life in the long run.

Either find a family member who can share your loans or find an additional source of income to repay the debts on time.  I cannot seem to think of any other solution.