AN UNPAID DEBT AND LESSONS LEARNED
Normally, if you get a loan from a bank, there will be collateral and a legal agreement on the repayment of the loan. However, if you default along the line during repayment, there will be a fee to be charged for defaulting. All these and more are measures to ensure a smooth ride with the loan at the end.
A lot of people take loans from the bank, and we all know the process including the interest rate. But then, one can be lucky to have a friend who would be kind enough to loan him for a business or whatever purposes he wants the loan for, but most times, some people take repayment of a friend's loan for guaranteed; perhaps you feel it's not official and you can default as many times as possible without even communication. This attitude and experience have led some people who usually loan friends and family money to change their minds about giving out loans even when they are financially capable of doing so.
That being said, I learned a lesson recently about debt and the right way to go about a loan when dealing with anyone, be it a close friend, relatives, or family.
You see, a written agreement shouldn't be overlooked, no matter how close you are to the person you want to issue a loan to. John is a colleague of my husband. They both work for an engineering firm. Sometimes, two years ago, he was in need of urgent financial assistance, for which one of their colleagues loaned him up to $200 to sort out the issue. Of course he was happy and promised to pay back as soon as he received his salary that same month. Unfortunately, not the same energy and sweet mouth used to receive the loan are used to pay it back. The woman who loaned John the $200 later traveled abroad and still reminds John to pay her the loan. She felt bad that John took her kindness for granted; he never paid back, months after months, year after year. Even to date, John has never paid back.
The bad side of John is that he has been doing well with his business but intentionally refused to pay. The other day, he said to my husband, "After all, the woman is in abroad doing well, so $200 is nothing to her". My husband, on the other hand, has told him so many reasons why he should pay back, but John doesn't care. From what I heard from my husband, the woman recently stopped calling John over the loan, but I am sure she is not happy about John's attitude towards her money.
In conclusion, it's never a pleasant feeling to lose any money, no matter the amount. Hence, for any kind of loan to a friend or family, it's important to document in case of uncertainties.
I hope you enjoyed reading from me today?
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The same energy one used to request a loan is always different from the one with which to pay back. When you see people coming for loan, they put up this pity look and start sugar coating everything but once the money lands on their hands and has reached the time to pay back, you will see them hiding and showing cruelty then. Some people are wicked when it comes to helping them and what they don´t know is that the future awaits them and they will need another help next time. The question is, will they ever be helped again knowing their past encounters with loans repayment? People need to have the heart of God when it comes to not making the other person regret of helping them.
The attitude of some people towards money is just tiring and they go ahead to block others from receiving such favour... like that woman here, she refused to give another person who came to her for loan due to her bad experience with John.
I hope the people concerned can rethink and live more responsible
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Some people actually implicate some good people out there and it's bad.
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Awwwww
Thanks so much Amber 🤗🥰😍
I think in the case of financial matters we should not trust anyone too much even if they are very close to us. I have seen many times that the close ones choose to betray at the end for the money. So it's better to make an agreement document when it's about giving a loan to a person.
Intact, close ones defaults more regarding money so the best thing to do is just to have a good written agreement
Thanks for sharing your thoughts my friend
It’s really sad when people don’t keep their word. It doesn’t matter the financial status of that owed person. Whether they’re doing good or not they should be paid back what’s owed to them. I hope John is convicted of his wrong doing and never does anyone else this way. I bet it’s hard for that woman to trust people now.
I have also learned that no matter if it’s family or not, it’s good to have a written and signed agreement for certain situations.
Yes, it will be hard for the woman to trust people again with her money considering her ugly experience with John. I think we shouldn't go for a loan when we don't have the plan to pay back... it's just a negative energy honestly and could ruin friendship
Written and signed agreement for certain situations is just a smart way to handle loan with relatives and friends
Wow... thanks for sharing your thoughts ma
Much appreciated for the awesome visit 😍🤗🧡
When my close family members ask for money, I give what I can without expecting it back. If they happen to return it, I'd be happy to accept it because sometimes family stories can get a bit complicated. But with friends, especially for larger amounts, it's better to keep a record to avoid any misunderstandings.
My beautiful friendship, How's it going? I can picture you're smiling. It's great to be back.
Yea, giving an amount we can forfeit without expecting a return sounds like another tactic to use . However when it involves a big amount we decides to help with, expecting a return, record keeping should be inevitable
Wow...see who we have here oo🤗
It's good to have you back flora dear.i missed your creative Sunday posts😍
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Wow, thanks dear
I know I have missed a lot
This is the reason people are very skeptic about helping anyone. Attitudes like John’s is reason enough
And that character is not good. It’s not okay at all. In fact, such a person can’t go very far.
#Dreemport
Exactly
It's an ill attitude that can take such person far