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SOFT LOAN REPAYMENT BY FRIENDS
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leona
#31 Posted : Friday, June 12, 2009 10:45:00 AM
Rank: Elder

Joined: 8/1/2008
Posts: 1,432
Location: Marsabit
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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Karoocy
#32 Posted : Friday, June 12, 2009 12:25:00 PM
Rank: Member

Joined: 5/9/2009
Posts: 7
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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MADE
#33 Posted : Friday, June 12, 2009 12:43:00 PM
Rank: Member

Joined: 11/12/2007
Posts: 391
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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Chaka
#34 Posted : Friday, June 12, 2009 2:02:00 PM
Rank: Elder

Joined: 2/16/2007
Posts: 2,114
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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smooth
#35 Posted : Sunday, June 14, 2009 11:41:00 AM
Rank: Member

Joined: 10/26/2007
Posts: 31
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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luxel
#36 Posted : Friday, June 19, 2009 8:23:00 AM
Rank: Member

Joined: 7/17/2008
Posts: 152
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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Braza
#37 Posted : Friday, June 19, 2009 2:43:00 PM
Rank: Member

Joined: 12/18/2007
Posts: 159
Location: Kenya


....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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