Not all debt is bad. Good debt means you are able to borrow money and repay it on time.This way you are able to
build up a good credit record which enables you to borrow in the future.
On the other hand, bad debt means you take out a loan, but are unable to repay on time and you don't have enough money to live on. If your credit record shows that you did not repay on time it will be difficult to borrow in the future.
build up a good credit record which enables you to borrow in the future.
On the other hand, bad debt means you take out a loan, but are unable to repay on time and you don't have enough money to live on. If your credit record shows that you did not repay on time it will be difficult to borrow in the future.
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