Bad debt experience is definitely embarrassing
I think in one way or the other, we have fallen victim of collecting a loan even if is as little as a thousand naira. But you know even the richest people collect loans. I heard Mr Alinko Dangote the richest man in my country with net worth of about $10 billion hbd take loan as well. so for those of us that have collected loans before, it should not make us feel less of ourself as humans or probably think we are the poorest okay.
But the fact still remain that even though I believe loan is not that bad as some persons paint it, one thing am against is collecting loan for the wrong purposes. It's okay when you take it to invest in one business or the other. but taking a loan to do a wedding, throw birthday parties, buy wrappers or maybe compete with your rich friends for showoff is what am totally against. But you know some people never learn from other experiences till it becomes their own experience and that was the same thing a woman did in my neighborhood. I think mentioning name is not really a bad idea since nobody here knows her? But I still think it would be best if I don't mention any name.🤷
So there is this woman in my neighborhood, knowing fully well her family situation that they are not well to do, she is still thesame person that likes to compete with almost everyone in the neighborhood meanwhile nobody is competing with her. How do I know? The other day she saw my mom with a new wrapper and to show how she was desperate to know the amount, she came to our house to ask for the price. Am not saying is bad to like something and want to get it, but in her case she's not going to buy same thing with yours, but hers is going to be costly for sure.
But then how long was she going to continue with with the act of collecting loan here and there? On this faithful day, a group of women came to knock on her day and the moment she opened the door fear gripped her. Why? The groaming center members came to collect the loan she took from them over a year ago and has refused to pay back. Initially, the loan was to last for six months which is the time for payment but due to the mercy they had on her, they gave her another six months and yet was unable to pay back. The embarrassement they gave her was just something else. My god!! to the extent they went away with the television set, generator and refrigerator to sell so they can recover back their money. I was not the one embarrassed but I felt embarrassed on her behave. the good thing in all that happened was that she learned her lesson the hard way. I also learned from her experience today not to live above my means and be grateful with whatever I have. Lastly I thank God also for the woman that raised me who is never in support of loan except when necessary and for a reasonable course.
All thanks to the #HiveLearners community for this amazing weekly prompt 111e3 the bad loan.
Thank you for your time, peace 🕊️
Competition, very wrong of her, why on earth should someone borrow to compete with others. The fight is not between man but between poorverty and human.
You are right Dr. 👍
I see no reason someone should take loan to buy material stuff.
Didn't she listen to the song "No Competition" I don't like people knowing fully well you can't afford it yet you want to pressure yourself into unnecessary competition, I know a lot of people would take a loan just to look good, look good for who na? It's bad now to see the kind of embarrassment she went through, you were now feeling pity for her.
Am sure she did not listen to the song else she would have refrain from her action.
The embarrassment was just too much for her so I helped her. 🤣
That's right, taking loans doesn't mean we are the poorest or the least. Some loans have to be taken to sort issues at some point to avoid going into broke situations lol.
Even with the extra month given to her, she couldn't meet up. It happens and I think loan givers expects this much from some of their debtors.
She was living above her means and that's why even with the extra time to pay back she couldn't meet up.
That's such a disgraceful experience for the woman, I don't know why even an adult will be carried away by material things that their mate have.
Imagine not being able to pay for months and they selling almost all her properties to pay back.
I think she wants to give everybody the impression that she has money and was not expecting things to turn out the way it did.
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Some people are just really funny
Because why on earth would one want to ever take a loan just to compete with someone else?
Like I mean?
Who does that?😂
If it was even for some rightful purpose or maybe a business plan investment it would have even been better.
Some people would never stop amazing one.
My dr so many of then are still out dr throwing one dirty competition all in the name of show off or I pass my neighbor.
It's just craze how some people still do that despite how life is at the moment
Many people has fallen victim of loan and where not able to pay back, sometimes borrowing Money to invest and it dose not turn out well
I remember a women close to my house back then she was seriously embarrassed because she was not able to pay back her loan
It's a pity for her, many have fallen victim of that and we're seriously embarrassed.