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Unsecured loans and credit cards a curse to this generation
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2012
#1 Posted : Friday, October 22, 2010 6:45:11 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
These unsecured loans and credit cards are a curse to this generation. They are really messing guys up! And now here comes the Credit Reference Bureau.

From what I've seen, let me advice you not to take unsecured loans (unless for emergency) or take up credit card no matter how disciplined you are, you'll get caught in the web.

BBI will solve it :)
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raszag
#2 Posted : Friday, October 22, 2010 6:52:58 PM
Rank: Member

Joined: 7/6/2010
Posts: 170
Location: Kenya Tukufu
For unsecured loans, I think it depends on what your intention with the monies is...If you use the cash wisely and you are sure of accelerated payment, well and good...Otherwise usidhubutu...

For credit cards..NEVER EVER...
Hardwork, Smartness & Humility = Successful and Happy life...Jipange sasa hivi
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2012
#3 Posted : Friday, October 22, 2010 7:53:47 PM
Rank: Elder

Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
I tell you this thing is a curse. I know a guy earning not good but great money and today auctioneers were knocking on his door. He came to us to give him chums not to pay the loans but to bribe them off. This dude makes bout' 300k a month!

BBI will solve it :)
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bird_man
#4 Posted : Friday, October 22, 2010 8:09:51 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
It probably does not matter how much you earn.I think what matters most is how much you save and invest after getting paid.
Formally employed people often live their employers' dream & forget about their own.
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Tebes
#5 Posted : Saturday, October 23, 2010 10:44:45 AM
Rank: Elder

Joined: 11/26/2008
Posts: 2,097
2012 wrote:
I tell you this thing is a curse. I know a guy earning not good but great money and today auctioneers were knocking on his door. He came to us to give him chums not to pay the loans but to bribe them off. This dude makes bout' 300k a month!



Always live within your means!!!
"Never regret, if its good, its wonderful. If its bad, its experience."
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gk
#6 Posted : Saturday, October 23, 2010 11:25:54 AM
Rank: Member

Joined: 5/17/2008
Posts: 489
...it was, is and will ever be that;

" if your outgo exceeds your income, then your upkeepwill be your downfall"
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FundamentAli
#7 Posted : Saturday, October 23, 2010 2:40:37 PM
Rank: Veteran

Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
I have been hit by the credit card scammers. AM now without a credit card. Bank's ought to do enough to protect their customers. Even when used properly, credit cars are still a problem
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Jus Blazin
#8 Posted : Saturday, October 23, 2010 3:43:06 PM
Rank: Elder

Joined: 10/23/2008
Posts: 3,966
raszag wrote:
For unsecured loans, I think it depends on what your intention with the monies is...If you use the cash wisely and you are sure of accelerated payment, well and good...Otherwise usidhubutu...

For credit cards..NEVER EVER...


quite true. it always depends what you use the cash with. i took some unsecured loan and constructed some rental property. i left my place of work a while back and i've been quite okay. i pay the bank their dues promptly.
Luck is when Preparation meets Opportunity. ~ Lucius Annaeus Seneca
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Bettertry
#9 Posted : Saturday, October 23, 2010 3:53:01 PM
Rank: Member

Joined: 9/19/2010
Posts: 237
Location: Republic of Graham & Doddsville
To just but quote Robert Kiyosaki, "lf cash flow management is the problem, then more money won't solve the problem."
We Will Either Find a Way or Create One - HANNIBAL
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speculator
#10 Posted : Saturday, October 23, 2010 5:49:21 PM
Rank: New-farer

Joined: 12/1/2009
Posts: 75
Location: nairobi
I'm learnin the hard way. These sales people are even knocking offices takin loans without planin na imekuwa funzo kwangu na kwa wale wenye tabia kama hizi.
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