Needless to say, debt is part of life, especially in the business world. Businesses sometimes thrive on debt-derived capital; borrowed capital encompasses a significant portion of the business financing. Loans are readily available mostly from financial institutions if you meet certain criteria. However, the big issue arises when it gets down to loan repayment. How to get adequate funds to meet the terms of your loans?
Like businesses, individuals sometimes have to incur debt as part of daily living. As is expected, enterprises and individuals are supposed to start paying off debt from operational income, but it does not always work out as planned. If payback resources are limited, some people opt to borrow from their retirement plans like the popular 401k.