There are many types of people who borrow money (from friends and family) and here are 3 types listed by KenjiFX (AKA KenjiWealthMgt in FB): 1. People who borrow and want to repay the loan but lack the ability to do so.

2. People who borrow and never intend to repay the loan even when they have the ability to do so.

3. People who borrow continually. For example, borrow $50, repay $20, borrow $70 later to round up outstanding loan to $100, repay $30, borrow $80 to round up outstanding loan to $150 and it goes on to a point when they really can never repay the loan in full. Perhaps, we know some people who fall into the three categories above? It has to be said that getting into debt is easy while getting out of debt could prove to be really difficult. Credit Counselling Singapore (CCS) revealed the following reasons for Singaporeans having debt problems:......