Although it rarely occurs, it does happen. You could have a family member such as a parent or child die, leaving you with their debt or your spouse could die and you would need to pay off the debts or your business partner could die and leave you with debts to pay off.
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Getting a personal loan to pay off debt can be a really wise move - if you handle it responsibly, that is. If you are going to do it, though, you need to be ready to make big changes in your life.
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