From the same bank that is foolishness....in case you don't know it is you the bank will hold responsible and if you dare say your father asked you to collect the loan your whole family don enter one chance.... ain't nobody more gangster than the bank
My people let's watch out for a a headline like ....father and son taken to court by bank for multi million naira loan fraud

Noble4life:

What a world my brother!!! God bless you.

My brother God bless you too buddy..
Reading some of the posts here, I can now see why most of the Oyibo people no dey gree train their children for university...

They will just send them to go and get student grant/ loan from the bank... When they graduate, they payback themselves.. The parent will save the money they would have used on them for their retirement... People are really selfish this days... People failed to understand that an 18 yrs old is an adult... He can vote or be voted for...

Any parent paying their school fees at that age was simply helping out.. it was not their right ( it was only their right from primary School to secondary) It was just disheartening reading some of these posts...

Nelchuksmandela:


He has been doing his trading with it and early last year he got two Nigerian used shuttles with like 60 percent of d loan for transport business which turned out to be faulty, after spending heavily on them for repairs he’s later sold them as scrap

To me, he should just manage what he has now. Taking loan every time without success is not really good enough. It is not everything that looks good are actually good. Not every is good for you. Try to study yourself.

Mercychen:
See, op. He's your dad. Also remember he got into debt because of you. He meant well for you and if not for how everything turned out badly, you'll prolly be doing a 6 digit job and living large by now. So consider him and do this.

Take a 100k loan. at least you can conviniently pay back in case he defaults. Just test him with that first and see how it goes. Don't just turn him down outrightly.

That's all.

you are smart sis..... Are you married?

Hmmm

No try am o

Go ahead

See comments, Nigerians are evil only few are good. Your blood father? Anyway you can also treat your mum the same... useless drug addicts generation without sense.

enilowo:
Good day,

1. At your present monthly pay 500k is too much [/b]a loan you can pay off easily except you are earning unofficial pay to balance up.

2. All those your extended family he is reporting you to kindly tell them to do it for him and see their reaction.

3. Note this! If you take that loan I am sure it can only be from all these loan shark around and[b] it will be at exorbitant rate that will destroy you and will make you loose your job. I am saying this cos I know there is no standard bank that give you 500k on that monthly pay. The maximum any bank can give you 25k multiply 12 which gives you 300k. This is arrived at using you debt service ratio DSR. So my advise for you is to take a 250k loan for him with the mindset that you are the one that will pay back.

4. I advise you do this cos I know he won't pay back so once he defaults you have reason never to entertain his entitlement mentality again.

5. Above all I pray God lift you up soon to be able to rescue your dad and family.

Thank me later on enilowoatgmail.com

Cheers

Solid points

Op is the one that will service whatever amount he loans, he should find a lesser amount to gather and give the DAD because his earning power is low compared to the amount of loan he wants to take, if its contribution its better because theres no interest he will pack first and then continue payment .

Loan matter ;we have not even started talking about interest and he earns 75k. If he earned more its a different thing entirely. All these lenders don't smile, they can harass terribly. I fear loans oo

I have seen stuffs like this happen in families and 8 in 10 cases it doesn't end well.

My prayer is God lift the OP higher where 500k will not be difficult to gather. Amen.

Let him take the loan himself.

I can't call you an ingratitude but take the loan and personally pay off his 2 outstanding loans, upgrade his business with the remaining balance.
Remember all he has done to u

Mercychen:
See, op. He's your dad. Also remember he got into debt because of you. He meant well for you and if not for how everything turned out badly, you'll prolly be doing a 6 digit job and living large by now. So consider him and do this.

Take a 100k loan. at least you can conviniently pay back in case he defaults. Just test him with that first and see how it goes. Don't just turn him down outrightly.

That's all.

You are so intelligent and with a good heart. Keep it up dear

Family affairs... :/!

Nelchuksmandela:
Good day Niralanders,

I need your sincere advice on my present situation.
Please ignore any grammatical error or punctuation. I’m the first son of my family, my father is an average Nigerian trader, he single handedly sponsored my schooling from nursery to higher institution.

After my service year, one of his friends scammed him of 300k in the name of they will get me a job in NUPENG before he paid that money I told him my pastor’s revelation about the NUPENG job, which my pastor said She does not like the job and shared ill references associated to the job with me and I told my dad when I got home, he countered and rebuked the revelation, he doesn’t take any of our advice, he finally fell for the scam.

To cut the long story short, I’m now working class that earn 75k monthly, however I’m still squatting with a friend and I’m still struggling to survive.

Recently I received a call from my dad, he told me he needs 500k for trading, that he wants me to take loan on his behalf he will be paying the debt once it’s due, since he is yet to complete the outstanding loan he took from the same bank, which is remaining 3 months to complete. I later discovered he had another debt he’s still servicing (Paying ) of a different bank that is remaining 6 months to complete.
After pondering over it i asked him; what if he defaults what will happen ? he shunned me and said why will I be negative and I politely told him my mind that I cannot help the current issue. Since then he started reporting me to my mum relatives to talk to in order to accept and collect the loan of 500k on his behalf.

Please your advise on this will be helpful.
Thank you.

Don’t do it.

Useless father you have.

AutoChick4U:
Nigerian Parents and emotional Blackmail!!!! I can bet my imaginary balls his father won't pay back that loan and d op will b saddled with that gbese. When will he grow?

I know but let the op pay back the 300k the father lost while he was looking for job for him. Give him the 300k as gift not loan

Nelchuksmandela:
Good day Niralanders,

I need your sincere advice on my present situation.
Please ignore any grammatical error or punctuation. I’m the first son of my family, my father is an average Nigerian trader, he single handedly sponsored my schooling from nursery to higher institution.

After my service year, one of his friends scammed him of 300k in the name of they will get me a job in NUPENG before he paid that money I told him my pastor’s revelation about the NUPENG job, which my pastor said She does not like the job and shared ill references associated to the job with me and I told my dad when I got home, he countered and rebuked the revelation, he doesn’t take any of our advice, he finally fell for the scam.

To cut the long story short, I’m now working class that earn 75k monthly, however I’m still squatting with a friend and I’m still struggling to survive.

Recently I received a call from my dad, he told me he needs 500k for trading, that he wants me to take loan on his behalf he will be paying the debt once it’s due, since he is yet to complete the outstanding loan he took from the same bank, which is remaining 3 months to complete. I later discovered he had another debt he’s still servicing (Paying ) of a different bank that is remaining 6 months to complete.
After pondering over it i asked him; what if he defaults what will happen ? he shunned me and said why will I be negative and I politely told him my mind that I cannot help the current issue. Since then he started reporting me to my mum relatives to talk to in order to accept and collect the loan of 500k on his behalf.

Please your advise on this will be helpful.
Thank you.

Your father is mentally and financially ABUSIVE.

Evil, wicked man.

wunmi590:


That is how stupid you are and you have nobody to tell you....

Not everybody on nairaland are hungry like you and your generation..

30k is even small compare to what I used to send before COVID-19 came and took the job that pays me well away, before getting anothe......

Work hard, so that people who are doing great things would be a threat to your miserable life..

More than 10yeats I have been on nairaland, go through my record, I'm perfectly clean and I don't lie...

It shows you lack sense or you are dumb, if you like go and mortgage your future generation just to please people, nah your kids go suffer am, werey

What a foolish young boy.

"Nah your kids go suffer am"... So, you know it is good to take care of your kids. Now that your kid will now abandon you when you needed him most because you've told another kid to run away from his father. Stupid kids who knows nothing

Ashirioluwa:


I know but let the op pay back the 300k the father lost while he was looking for job for him. Give him the 300k as gift not loan

Did you ask him if he can spare such amount for now? When did he start earning 75k?

Boniii7950:
You don do an ?

Even a fool can see that bet slip was edited. Thief

Bro u have so many things to consider, 1st your dad has sacrificed alot for u and which u have to reciprocate the gesture atleast i bliv in the saying that "1 4 ALL, ALL 4 1".

Bro the best you can possibly do not to warrant any words like" I will place curse on you" is to give him certain amount like 100k or 150k and telling him frankly that dad that's the amount I can afford and you can't take loan for him..

You said you are still struggling and he still have some debt to pay back... If care is not taken after helping him with the loan you will be the one to pay all back in grief which can later affect you badly... Think deep and pray

Op be a man, you're matured enough to take ur own decision. Let ur No be No and besides wetin ur Pman d do with those borrowed money

Secondly ure earning 75k a month and still squatting with someone?
Il advice u look 4 a place of ur own even if na single room u fit afford or self con. No squat with person again biko. There's dis respect ul hv wen u stay alone n not with someone. Pls look into it, i said so cos u said u r earning 75k monthly. If to say u no d work i for reason ur way
As for pman matter....... Don't take that loan

FlipModeSquade:
And if they start collecting the repayments from his 75k per month,how much do you think would remain?
Nigerians and entitled mentality..

sacrifice

You are the person who is going to pay back that loan. If you can, take the loan. If you can't, don't take the loan. The decision is yours.
Just tell him your salary is not enough to borrow that kind of money from the bank.

Mercychen:
See, op. He's your dad. Also remember he got into debt because of you. He meant well for you and if not for how everything turned out badly, you'll prolly be doing a 6 digit job and living large by now. So consider him and do this.

Take a 100k loan. at least you can conviniently pay back in case he defaults. Just test him with that first and see how it goes. Don't just turn him down outrightly.

That's all.

you are a good person.. Our parents have tried alot and we need to be there for them... Especially when they are responding like OP's DAD!!!

Nelchuksmandela:
Good day Niralanders,

I need your sincere advice on my present situation.
Please ignore any grammatical error or punctuation. I’m the first son of my family, my father is an average Nigerian trader, he single handedly sponsored my schooling from nursery to higher institution.

After my service year, one of his friends scammed him of 300k in the name of they will get me a job in NUPENG before he paid that money I told him my pastor’s revelation about the NUPENG job, which my pastor said She does not like the job and shared ill references associated to the job with me and I told my dad when I got home, he countered and rebuked the revelation, he doesn’t take any of our advice, he finally fell for the scam.

To cut the long story short, I’m now working class that earn 75k monthly, however I’m still squatting with a friend and I’m still struggling to survive.

Recently I received a call from my dad, he told me he needs 500k for trading, that he wants me to take loan on his behalf he will be paying the debt once it’s due, since he is yet to complete the outstanding loan he took from the same bank, which is remaining 3 months to complete. I later discovered he had another debt he’s still servicing (Paying ) of a different bank that is remaining 6 months to complete.
After pondering over it i asked him; what if he defaults what will happen ? he shunned me and said why will I be negative and I politely told him my mind that I cannot help the current issue. Since then he started reporting me to my mum relatives to talk to in order to accept and collect the loan of 500k on his behalf.

Please your advise on this will be helpful.
Thank you.

I wish my dad was alive, so I can take a loan on his behalf, then not look up to him to pay it.

aanuoluwami14:
Your father wants to ruin your life, ignore him. What has he done with all the money collected?! Na by force?

The same father took a loan to help his son get a job in NUPENG yet it's easy for you to conclude that his father wants to ruin his life.

I don't like the idea of zztakibg loan for anything. However, if his purpose of use is genuine, kindly get the loan that you can comfortably repay, even if he default. Let him know that's the maximum amount you can access.

Yes, he's your driver to this world, you have your life to live as well

emmykk:


This advice is very cogent or find like 150-200K to dash him or borrow such amount and dash him .it is better than the 500K

hmm

anastasius:

Your dad might be a failure so I don't blame you for thinking all dads should be treated badly cos yours was a failure

your a stupid idiot for saying trash

Join a contribution of at least 200k and give to him. Pls don collect first oo. 20k monthly