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SOFT LOAN REPAYMENT BY FRIENDS
Rank: Member Joined: 11/2/2006 Posts: 519
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And what of these guys on the road with similar stories about how they came for a job that never materialized and have no bus fare (20/-) or had come to see a family member for cash but could not be reached?
Am I the only one who encounters these guys or what? How can you tell a genuine one?
The best time to plant a tree is twenty years ago. The second best time is now.
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Rank: Veteran Joined: 3/31/2008 Posts: 761 Location: Nairobi
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@mtalaam, I always thot those who borrow bus fare were genuine until the same guy borrowed me on two consecutive days outside Telposta towers using the same story. I almost beat him up.. ..wise as a serpent,humble as a dove When I admire the wonder of a sunset or the beauty
of the moon, my soul expands in worship of the Creator.
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Rank: Member Joined: 2/24/2009 Posts: 29
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Also had the same guy ask me for bus fare when parking in tao..ati he's from Thika going to Rongai blablabla. Then another day he meets me in tao and raps the same story again.Lol! I got so worked up!
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Rank: Member Joined: 5/22/2009 Posts: 31
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the perennial borrower was a trick i figured kitambo. just stand in certain busy areas in town and watch them at the game. most were women. they would approach like ten people then go round the block before approaching another ten people. i have no time for them and i tell them as much. even had one man claiming he was from kibera threaten the wrath of god upon me for refusing to assist him. ha! it is a pity that the bad apples have ruined the chances of anyone who may have had a genuine need.
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Rank: Veteran Joined: 9/5/2007 Posts: 627
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You guys have reminded me! Back in the day,one of those bubus who walk around estates asking people to donate to their 'cause' came to our house. My bro shook his head to indicate he didn't have anything for him. Then he made sure he'd walked away far enough, then shouted, 'kujia pesa, nimepata change'!
The bubu came sprinting back to collect the money from my bro and he promptly got quite a vicious ass-whopping! Never saw him after that!
Immorality: The morality of those who are having a better time!
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Rank: Member Joined: 11/14/2006 Posts: 28
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One,do not lend money to someone you have not dealt with financially - I learnt this the hard way - a pal calls me to bail him out,send money to his clearing agent so that his goods leave the port,he will send money via western union. That was easter,am still waiting.
Two - only lend money you are willing to lose. Dont be afraid to ask the person 'Will I see this money again?' then they can tell you whether you will or you won't. Take calculated risks.
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Rank: Elder Joined: 6/19/2008 Posts: 4,268
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I have learnt a few tips on the way......
1. KYC - know your customer.... the way he handles his money,spending styles,payment of usual bills like rent etc.... if he is careless with his/hers,he/she will be worse with yours... Often,you will find the perennial defaulters are the fellas who will always have issues with say landlords,powercuts,water being cut,gari inaishia petroli kwa njia... they do not respect and honor their obligations
2. Only lend (especially to friends and relatives) what you are willing to loose.
3. Commit your funds - you can not lend what you dont have
4. if a friend borrows you to do business,give at a % of it... after all,he/she is using your money to make money...
5. Die for the one who can die for you - if someone cant die for you,forget the sacrifice (dying here i mean sacrificing,going the extra mile etc and it doesnt have to be material!! Sacrificing your time is much more valuable than money/material things if you knw what i mean) - we all have friends like that... they will expect you to go the extra mile for them,but they wont bat an eyelid for you!!!!
6. Give a time frame of when you want your money back... preferrably,let the borrower say when he can give back (reasonable time) then hold him at his word.
7. Dont forget to learn your lessons.......
Some deals are like glass. Sometimes it's better to leave them broken than try to hurt yourself putting it back together.
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Rank: Elder Joined: 4/22/2009 Posts: 2,863
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@wendz ......Thanx 4 ua points,a good number of the borrowers talk of repaying 'next week' but come the 'next week' they start giving me all manner of xcuses. NEVER HONOUR A PROMISE THAT PUTS YOU AT A DISADVANTAGE!!! IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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Rank: Member Joined: 11/2/2006 Posts: 519
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@mwenza,
So true! 'I'll pay you next week' is the most common line you could almost complete the sentence yourself!
The best time to plant a tree is twenty years ago. The second best time is now.
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Rank: Member Joined: 7/28/2008 Posts: 3
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to know genuine street borrowers; just escort them to a police station for assistance. if they come - sure they shall be helped.
\Mr fish
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Rank: Elder Joined: 8/1/2008 Posts: 1,432 Location: Marsabit
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Friends & Family are the biggest disappointment when it comes to borrowing and lending. Most effective rule when lending to friends and family is...Lend only what you can afford to Loose. Nothing more,nothing less! Advice is what we ask for when we already know the answer but wish we didn't.. Nevermind what haters say, ignore them til they fade away - Just live your life
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Rank: Member Joined: 5/9/2009 Posts: 7
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Its true,friends n family are the biggest defaulters. there's this dude who asked me for 4k,n he said atarudisha within 2 weeks,that was 2 yrs ago. we met smtym back akanishow,by the way,the money u gave (note GAVE) helped me alot,i will not pay u back,bt i'l help another jst as u helped me. I cud nt believe it. needless to say,
I made a rule,sipeani loans,or lending,nimekataa. waende bank or another gd samaritan!
Karoocy!
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Rank: Member Joined: 11/12/2007 Posts: 391
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a close friend took my 29,000/= inorder to clear semester fees n pay for exams for a daughter at KMTC,way back in 2006. He was deep in a crisis at the time. The daughter completed college,got employed,got married.....but am still waiting. The guy works with a UN body. Promises,promises.....am fed up What can u do with such a friend? It's not where yu are,but where yu want to be. Age is transforming me into an Elder;becoz Admin hasn't made me one.
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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If say you lend money to someone and you document the lending and the lending conditionds and the borrower signs the document but fails to return the cash as agreed,can the document be given to a debt collector for assistance to recover the cash?
There is a cousin of mine who 'borrowed' 20k four years ago.i am still waiting.
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Rank: Member Joined: 10/26/2007 Posts: 31
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Equally learnt this the hard way. and have learnt that to give (Only to close family) what i can afford to loose.
However,importantly i have two good friends whom would go to extremes to help when in need and i too give the same back. For the rest... i advice them politely to use credit cards and would gladly refer them to a buddy at Barclays Card Center.
Smooth
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Rank: Member Joined: 7/17/2008 Posts: 152
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It feels so bad when you try to call a friend and they refuse to pick your call just because they imagine you asking about the money.
To lawyers in SK,
What recourse does one have especially if there was no contract but you can prove you gave somebody money e.g have the bank deposit slip.
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Rank: Member Joined: 12/18/2007 Posts: 159 Location: Kenya
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....good topic to share.............my personal experience 2moro. Consistency requires you to be as ignorant today as you were a year ago. Admin, Luckily; age will one day transform me into an Elder.
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