Can I get a another loan even though I have debts?
As an individual, I like to have a lot money and possession. I work hard to get the stuffs that I would like to have. I also loan so that next time I would be able to loan on a higher price than the ones I have. In my previous bank, I still have debts that have not been paid. They sent me debt collector to update me with the debt. Can I loan from other banks to pay my current debt?
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When you are loaning from the banks. You cannot use the loan that you have to pay for the other loan. The bank had already paid for the stuff that you have loaned and would not be able to pass it to other stuff. You can not get another loan from another bank to pay the loan that you have. You had a contract with them and they just might repossess the item you loaned for.