Lending Money

[Godspower]

Due to some experiences, I just realised that it is not advisable to take loans from financial companies or banks as you might be in trouble if you're unable to pay on time. It might cause you embarrassment so it is better to borrow from family members or friends.

 

[Immilash]

lending out money to people is sometimes risky, many people nowadays doesn't like taking back the loans they have collected.i only give out money to people I trust.

 

[tusziget]

Lending money is a very problematic thing, because you don't know when you will get your money back. And this uncertainty can cause much stress to you. Of course, if you are lending money to someone, whom you trust, that is a totally different thing. Because you know, you will get your money back, in time.

 

[Ub40]

If I source for loan from family and friends and it fails, I do consider borrowing from companies or loan app. I do lend money to other people too but it is rather unfortunate that some people will come with excuses when it comes to pay back time. So, I do advise people to lend money he or she can afford to lose in case the borrower can't pay back.

 

[Heatman]

Do you lend money from someone or from a Finance Company? I started to lend from family members and now went into finance company for having a loan. I am looking to close all those things in the coming days to spend a new life.

Personally I'm not the kind of money that lends money or borrow money because I find it very frustrating when I find it difficult to pay back the money I'm supposed to pay back when I'm supposed to.

 

[Stnicholaz]

Do you lend money from someone or from a Finance Company? I started to lend from family members and now went into finance company for having a loan. I am looking to close all those things in the coming days to spend a new life.

I have never lend money from any financial company, atleast now. In many occasions have lend from family and friends and try as much as possible to payback.

Like as said I have never have any reason to borrow from banks or any financial company, atleast not for now, maybe in future when the need to do so arise.

 

[Heatman]

I have never lend money from any financial company, atleast now. In many occasions have lend from family and friends and try as much as possible to payback.

Like as said I have never have any reason to borrow from banks or any financial company, atleast not for now, maybe in future when the need to do so arise.

The problem with lending money from all this financial institution is to be able to have the collateral that you will give in place of the money that you're supposed to get from them which will be confiscated if you fail to pay.

 

[Stnicholaz]

The problem with lending money from all this financial institution is to be able to have the collateral that you will give in place of the money that you're supposed to get from them which will be confiscated if you fail to pay.

Most financial institutions especially commercial banks would not even listen to you if you don't have collateral or viable business. That's why they mostly prefer to give large loans to big businesses and already established companies. It very rare to grant loan to start ups.

 

[kayode10]

It can be very difficult to retrieve the money you lent us to people. If you choose to be aggressive it can lead to something else. I prefer to give out money to the people rather than lending.

 

[Smiles20]

When I was starting my business it was a little bit straight forward for me because I was able to get a loan of up to about $350 from my immediate family and then I was able to gather another $250 from my own personal saving.

 

[joy101]

I don't lend any money to no one because paying back them will find it difficult to pay you back when the time comes, so I don't support such idea of lending money to people.

 

[Justin]

I lent money to my friends to start business. They returned principle along with the interest within the stipulated time. One of the greatest problems of becoming a lender is not being able to recover the loan in stipulated time.

 

[Ghost]

I just hate borrowing, it makes me feel indebted to the person and as such I have to be subject to him. One must always make sure to return borrowed money in due time to avoid quarrel

 

[Psalmseen]

Borrowing money isn't at all a good habit. Though at some point in time, you might have no other option than to borrow money. But there are some people that are very comfortable with borrowing and most don't see it pressing to refund them on time

 

[HayKay]

Well I have lent money to a few people in the past and have had both good and bad experiences - some paid back and some didn't.
One thing I'll consider before lending you money is to see your means of income that'll assure me that you can pay back conveniently.

 

[tyrim88]

Never, lending will always keep you in the mercy of the person. I hate being caged in. Like even though I have a thing to say but simply becos I borrowed I'd have to remain shut

That is just a fact,because once yo are not able to repay your loan and you default in any way,you will be put in a very tight corner.So it is very good to live within the avialable resources thatone has,that is just the best remedy.

 

[Sotherefore]

I have never done that before and even if I have to do it , I will just consider the money I am lending out as a gift because I am not ready to get into problem with anyone if the person refused to pay back the money he or she has collected.

 

[Godspower]

Borrowing from financial institutions isn't a good idea. You might run into debts if the business does not succeed and it might be difficult to pay back the loans at the appointed time without defaulting.

 

[Shigobad2020]

I always face the same consequences when I borrow people money, they don't normally pays back and its not convenient for me to ask because I think that I might be inconvinienting them , so i normally borrow people the amount of money i can do without

If I source for loan from family and friends and it fails, I do consider borrowing from companies or loan app. I do lend money to other people too but it is rather unfortunate that some people will come with excuses when it comes to pay back time. So, I do advise people to lend money he or she can afford to lose in case the borrower can't pay back.

 

[Godspower]

I always face the same consequences when I borrow people money, they don't normally pays back and its not convenient for me to ask because I think that I might be inconveniencing them , so i normally borrow people the amount of money i can do without

I understand your point perfectly. In as much we would like to help those in need, most people tend to be ungrateful and do not pay back the money they borrowed. Sometimes it prevents the philanthropist from giving out next time.