Good day, I need your advice on this. A friend of mine just started a busines, due to some unforseen circumstances, he ran into the debt of 1.6m naira. He called me few days ago and told me that he had tried all his best in getting the money but he couldn't and he said everything coming to his mind is commiting suicide to avoid the shame and problem ahead..please your advice is highly needed..what can he do..if you are the in his shoes, what will be the next thing you will do..by the way, he doesnt have any property to sell...please help

Keep talking to him not to take that way, and never leave him alone.

shegman4jesus:
Good day, I need your advice on this. A friend of mine just started a busines, due to some unforseen circumstances, he ran into the debt of 1.6m naira. He called me few days ago and told me that he had tried all his best in getting the money he couldn't and he said everything coming to his mind is commiting suicide to avoid the shame and problem ahead..please your advice is highly needed..what can he do..if you are the in his shoes, what will be the next thing you will do..by the way, he doesnt have any property to sell...please help

This is hard time and we must be optimistic to survive.

Ti a ba pe laiye ao jeran toju erin lo...

He will be amazed later in life that he wanted to commit suicide just because of N1.6m.

He is being selfish and shortsighted.

shegman4jesus:
Good day, I need your advice on this. A friend of mine just started a busines, due to some unforseen circumstances, he ran into the debt of 1.6m naira. He called me few days ago and told me that he had tried all his best in getting the money he couldn't and he said everything coming to his mind is commiting suicide to avoid the shame and problem ahead..please your advice is highly needed..what can he do..if you are the in his shoes, what will be the next thing you will do..by the way, he doesnt have any property to sell...please help

What kind of business did he do?.
What kind of circumstances did he unforsee on top 1.5M?. If he has proof he wasn't reckless with the money, maybe has goods or receipts for expenditure to prove the circumstances,he can take dem to his lender and appeal for more time.

tell him to start doing any work be it labour on not labour work...
he should forget about the shame for now and he should think about the corona virus as an head start ...
he'll pull through this one amen ....
him and anyone in his shoes...
even the depression this days is enough to cause suicide

The debt per say doesn't worth committing suicide. Though, the amount must have been so huge compared to his assets, as a matter of fact, there are many people are in the same shoe with him or even much more than his.

Nevertheless, he should also remember that if the money is borrowed from micro finance or any other bank, they(bank) already has insurance cover in case of deatg, so, if he commits suicide, they'll recover their money. The question now is, who looses? I believe he can affirmatively answer the question.

In this difficult time, he should put himself together and ask God for divine revelation and direction on how or what he would do to sort out the mess. He shouldn't also engulf himself with what people we say and shame should be emotionally dealt with.

Finally, tough time doesn't last forever but tough people do. At the end of the turned, there's definitely going to be light!

Anwons:
The debt per say doesn't worth committing suicide. Though, the amount must have been so huge compared to his assets, as a matter of fact, there are many people are in the same shoe with him or even much more than his.

Nevertheless, he should also remember that if the money is borrowed from micro finance or any other bank, they(bank) already has insurance cover in case of deatg, so, if he commits suicide, they'll recover their money. The question now is, who looses? I believe he can affirmatively answer the question.

In this difficult time, he should put himself together and ask God for divine revelation and direction on how or what he would do to sort out the mess. He shouldn't also engulf himself with what people we say and shame should be emotionally dealt with.

Finally, tough time doesn't last forever but tough people do. At the end of the turned, there's definitely going to be light!

.

He is not owning bank, he is owning 3 individuals the sum of 1.6m..He is just afraid of how they will deal with him especially the ibo man among them

shegman4jesus:
.

He is not owning bank, he is owning 3 individuals the sum of 1.6m..He is just afraid of how they will deal with him especially the ibo man among them

Then sincerity is the key. He should man up if actually he didn't misappropriate the money, by going to have sincere dialogue with them. If his move is not accepted, then, the can do what they want to do. The law didn't say a debtor should be killed by the lender. Once again, suicide shouldn't be an option

shegman4jesus:
Good day, I need your advice on this. A friend of mine just started a busines, due to some unforseen circumstances, he ran into the debt of 1.6m naira. He called me few days ago and told me that he had tried all his best in getting the money but he couldn't and he said everything coming to his mind is commiting suicide to avoid the shame and problem ahead..please your advice is highly needed..what can he do..if you are the in his shoes, what will be the next thing you will do..by the way, he doesnt have any property to sell...please help

tell your friend to 1st focus on his life blessings, and that NO DEBT is the end... the worse that can happen is that he looses everything, and then he has to start it all over again... no biggie! the fact that he can get back up and start over is what he should focus on, not the BS he can do nothing about.

also, remind him of all the people who will be hurt if he commits suicide AND who he will just transfer his problem and sorrows upon... thats hell of selfish!

debtors cant/wont kill him, all is good, they will have to understand, one way or the other.

Anwons:
The debt per say doesn't worth committing suicide. Though, the amount must have been so huge compared to his assets, as a matter of fact, there are many people are in the same shoe with him or even much more than his.

Nevertheless, he should also remember that if the money is borrowed from micro finance or any other bank, they(bank) already has insurance cover in case of deatg, so, if he commits suicide, they'll recover their money. The question now is, who looses? I believe he can affirmatively answer the question.

In this difficult time, he should put himself together and ask God for divine revelation and direction on how or what he would do to sort out the mess. He shouldn't also engulf himself with what people we say and shame should be emotionally dealt with.

Finally, tough time doesn't last forever but tough people do. At the end of the turned, there's definitely going to be light!

Are you saying that a banks bad loans can be recovered from the insurance company?

Where did you hear that rubbish?

Please stop misinforming the public!

Are you sure you are not the one?

Talk true o!

On a serious note we don't have any advice for you because you didn't tell us detail of the 'unforseen' circumstances that made you squandered the money

shegman4jesus:
.

He is not owning bank, he is owning 3 individuals the sum of 1.6m..He is just afraid of how they will deal with him especially the ibo man among them

The Igbo man is the one that will give him a break among the three people he owes, watch out and see

I have a friend owing 2.3 million naira
He just paid 300,000 out of it
He never thought of suicide

Lol... the topic sounds funny sha, meanwhile i found something here How to start a profitable business in Nigeria

Hello,
The reality is that your friend wasn't prepared for business. I was indebted to the tune of 8,000,000 Naira when I lost everything in my business. What mattered to me was what lead to the loss of the money.

When I was convinced that all I was doing was to make money in a business but it didn't work, I relaxed and hope to come back fully sometime. The book titled the act of coming back by Donald trump kept me moving.

Let him know that at some point in life, the present president of America was indebted in billions of dollars, not Naira. And today he is the number one citizen of the world.

So, let him fasten his belt well to come back. Obviously he has learnt a lesson of 1.6m. So, he is 1.6m rich in business experience now. let him keep pushing

izicode1:
Hello,
The reality is that your friend wasn't prepared for business. I was indebted to the tune of 8,000,000 Naira when I lost everything in my business. What mattered to me was what lead to the loss of the money.

When I was convinced that all I was doing was to make money in a business but it didn't work, I relaxed and hope to come back fully sometime. The book titled the act of coming back by Donald trump kept me moving.

Let him know that at some point in life, the present president of America was indebted in billions of dollars, not Naira. And today he is the number one citizen of the world.

So, let him fasten his belt well to come back. Obviously he has learnt a lesson of 1.6m. So, he is 1.6m rich in business experience now. let him keep pushing

I love this

shegman4jesus:
Good day, I need your advice on this. A friend of mine just started a busines, due to some unforseen circumstances, he ran into the debt of 1.6m naira. He called me few days ago and told me that he had tried all his best in getting the money but he couldn't and he said everything coming to his mind is commiting suicide to avoid the shame and problem ahead..please your advice is highly needed..what can he do..if you are the in his shoes, what will be the next thing you will do..by the way, he doesnt have any property to sell...please help

Why do I feel as if I know this person the OP is referring to?

[quote author=SavageResponse post=89677916]

Are you saying that a banks bad loans can be recovered from the insurance company?

Yes some banks insure their loans but it's the capital without interest though in case of unforeseen eventualities

Am going to sound inhumane/ Inhuman but why does he wish to take the easy way out. What happens to his creditors?.

When I tell them, Entrepreneur is not meant for everybody, they won't listen. Can you see now?

Oluwahelpme:
When I tell them, Entrepreneur is not meant for everybody, they won't listen. Can you see now?

That's true bro. Every Tom and Dick thinks business is for everyone but that's not true. If you're are strong mentally, you can't do business because unforeseeable circumstances do come when you least expect. Only abnormal people thrives in business, not for normal people.

Committing suicide is automatic ticket to hell fire
He should give his life to Christ,this is not negotiable

Go to God in prayer for direction,I am in such debt #1.7mill since 2016 and yet to pay. God gave me a business idea in this lockdown and I believe with the business ,I will be able to pay the debt before the end of this year. I have learnt my lesson and if I rise, I don't think I will ever fall again

Many business people had more debt than that but today the are debt free.
Suicidal thought is for weakling that can't face the challenges of life.

Check your mail pls.

Gudlite:
Committing suicide is automatic ticket to hell fire
He should give his life to Christ,this is not negotiable

Go to God in prayer for direction,I am in such debt #1.7mill since 2016 and yet to pay. God gave me a business idea in this lockdown and I believe with the business ,I will be able to pay the debt before the end of this year. I have learnt my lesson and if I rise, I don't think I will ever fall again

Many business people had more debt than that but today the are debt free.
Suicidal thought is for weakling that can't face the challenges of life.

I also took a loan and it has being on my mind lately though suicide isn't an option but I'm sad I'm not financially buoyant to pay back during this lock down
I've being owing GLO 500 Naira airtime for the past 2 weeks and it eating me up cos I'm broke. Please help a broke guy with the loan even if it is 100 naira you can afford outta it just help me out
I need to call home
08159075747

Very funny, we wey don loose more than 10m the quite. He should just continue his business is not the end of life. He should keep failing until he succeed. The traditional school teaches us not to fail but street school teaches us to fail & learn. He needs to have street heart if he really want to roll with the streets.

Cutting your head is not the solution to headache, there are business you can start with little or no capital... check my signature

Suicide is not an option

I have been posting here close to six months, nobody look my face not even a call from anyone here. Yet people send and receive goods everyday. I have been on twitter and facebook using all my digital marketing skills yet no client. Entrepreneurship is hard ,mind you there are debts needed to be paid soonest. Am I thinking of suicide? No! Suicide is NEVER an option but the fact is that these things are hard.

shegman4jesus:
.

He is not owning bank, he is owning 3 individuals the sum of 1.6m..He is just afraid of how they will deal with him especially the ibo man among them

What do you mean by especially the igbo man. Which kind nonsense talk be dat

...........

Encourage your friend to keep pushing, i am in a similar situation with a debt of over 4million due to the crash in oil business and some projections that didn't work out well. I feel depressed but i need to keep believing.