Contracting debts and using the same for a far nobler purpose is something to be admired. But contracting debts and forgetting them, leaving behind the obligation unsolved is something to be cursed. Debts could make or break a person. A loan, for instance, which is incurred by a person to meet his most pressing needs, can be of help to that person to give him breathing space from his financial woes. If settled properly, the person increases his trustworthiness and credibility with other people more particularly that of his creditors. His good reputation will open the gate for more opportunities to close transactions involving finances. But if the same debts incurred were not properly fixed and were left unsettled, that will create a bad impression on the person of the debtor. The next time he applies for a loan, he will be rejected. Banks and loan institutions will not approve his application for loans. Individuals who have been victims of his undesirable attitude on settling debts could no longer be convinced to grant him another loan.

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