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SOFT LOAN REPAYMENT BY FRIENDS
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mwenza
#1 Posted : Wednesday, June 10, 2009 8:34:00 AM
Rank: Elder

Joined: 4/22/2009
Posts: 2,863
Hi SKerians,

Have been lending money to a good number of my close friends but when the time 2 repay comes,they give me all sorts of xcuses. Ultimately they default in repayment. Have always wondered at what point do they decide they wont pay,b4 or after they land the cash? What do i tell friends when they request for a soft loan since the repayment trend is so consistent? Do other Skerians have similar xperiences?





NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES 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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Gordon Gekko
#2 Posted : Wednesday, June 10, 2009 8:55:00 AM
Rank: Elder

Joined: 5/27/2008
Posts: 3,760
Please can I be your friend?
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se7en
#3 Posted : Wednesday, June 10, 2009 9:02:00 AM
Rank: Member

Joined: 11/27/2006
Posts: 108
lol @ GG... Mwenza... huat?!? how many 'bittens' make you shy??

if you can not be kind,at least have the decency to be vague
speak softly and carry a big stick, you will go far... Theodore Roosevelt
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mwenza
#4 Posted : Wednesday, June 10, 2009 9:38:00 AM
Rank: Elder

Joined: 4/22/2009
Posts: 2,863
@ GG... u r welcome so long as u dont become a borrower

@ 7.....Problem is the borrowers r not mutual friends and dont even know each other


NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES 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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the sage
#5 Posted : Wednesday, June 10, 2009 9:46:00 AM
Rank: Member

Joined: 11/20/2008
Posts: 367
Nice one GG. Anyway,I had the same problem but I became assertive. Next time just say you do not have cash,if they say they don't believe you,tell them to go and self fornicate.

If you've lost cash look at it in the positive way,losing a K today is better than 1m tomorrow.
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The General
#6 Posted : Wednesday, June 10, 2009 10:39:00 AM
Rank: Member

Joined: 6/3/2006
Posts: 553
@ sage,ROTFLMAO...

@ mwenza:

It is unanimously and without qualification assumed that when anyone gets into debt,the fault is entirely and always that of the lender and not the borrower. - Bernard Levin

The thicker the thigh the sweeter the pie.
The thicker the thigh the sweeter the pie.
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adept
#7 Posted : Wednesday, June 10, 2009 11:56:00 AM
Rank: Member

Joined: 12/8/2008
Posts: 359
Lending to friends is an absolute no no. There are many shylocks around that they can comfortably go to.

Learnt the hard way when I lent some kidogo cash (5k) to a campus pal just after landing my first job. Guy was my class mate and I thought 'hey,we are buddies right?'

Kept reminding the dude lakini wapi. What was interesting,the guy bought a car (on a sacco loan) quickly yet our pay was more or less the same. All the while excuses why he cannot refund the cash. And there I was still matatuing. It was during the pre-michuki days when we would be packed like sardines and the matatus always had drama of a chic complaining that a certain dude is not acting like a gentleman if you know what I mean.

To cut a long story short,I eventually gave up.


Bottomline - Nobody should ride on your sacrifices to fund their luxuries.

Tuma hao kwa shylock. Interesting thing is that most times they have items (e.g. household goods) they can sell or submit to a potential lender as collateral. It is all an effort to postpone a difficult decision.
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Njunge
#8 Posted : Wednesday, June 10, 2009 11:56:00 AM
Rank: Elder

Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
@Mwenza,

Maybe the borrowers are Skerians and they have read your motto:





NEVER HONOUR A PROMISE THAT PLACES YOU AT A DISADVANTAGE!!!










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@General,

Has your phone run out of alphabets?.....Hii ROTFLMAO ndio nini?.Can i have it too na isiwekwe pilipili.....!


Yombo dhier....!!
Nothing great was ever achieved without enthusiasm.
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mwenza
#9 Posted : Wednesday, June 10, 2009 12:38:00 PM
Rank: Elder

Joined: 4/22/2009
Posts: 2,863
@ adept..thanx alot,esp that bit on me funding their luxuries as i sacrifice is surely spot on

@njung'e ..haki wewe,hehehehehe you are so hilarious..on my motto,i just lifted it from machiavelli's book THE PRINCE,didnt know it could be used against me


NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES 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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mtaalam
#10 Posted : Wednesday, June 10, 2009 2:35:00 PM
Rank: Member

Joined: 11/2/2006
Posts: 519
The best way to lose friends is by lending them money.
Either refer them to where they can get or tell them that you don't have or if it's one of those bad debtor friends you can't say no to then give them a small % of the amount they want knowing it won't come back eg 1k for 10k and the good part is since they can't pay you back they also can't come for more in future.

The best time to plant a tree is twenty years ago. The second best time is now.
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