pocohantas:
I hate debt recovery, so I will rather play safe from the onset than find myself in that position. Some basic rules of lending that works for me.

You see that lend to people close to you? It's not true. The best thing is to stick to the first point.

Any friend that defaults payment several times despite having the capability to pay must never be regarded as a friend. I keep miles away from such wicked people.

cayorday89:
She might take me as an arch-enemy but I don't care, she is an ex who I lent 30k she said she needed urgently to sort out her school fees, and promised to pay the next week, she never did and gave excuses about her been owed salary, we were still dating or so I thought, lockdown came and whatever excuse she gave was genuine but I hate been fooled, found out through Facebook she was dating someone else, she was tagged and she commented my husband, I was not surprised or shocked such is life, as I already thought of the possibility as things were not the way it used to be, I only messaged her that she could have done better by letting me know as it is not a do or die affair and she should not forget my 30k,but she claimed if I loved her I wasn't suppose to ask for my money, that angered me the more, whereas I sent her money twice during the lockdown despite my doubt about her genuineness, she later said she was going to pay that I should give her time as she was waiting for her consignment and needed money to clear them at the Port, I knew this was a lie, I left her for two months messaged her again another round of lies and I have been blocked by her on all platforms so I changed my WhatsApp number to get in touch with her, after four months I contacted I fiance, and message them simultaneously but I told him I was a friend and explained myself, he asked me to send my account number but she also requested for it and I told him she has promised to pay, the said day elapsed and she came with another round of lies.
A friend later told me she is having her wedding, two days after the wedding, I messaged her, another round of lies, also insulted me, but I was willing to let her have her way and do whatever pleases her as I have one last card to play, her sim she uses is registered with my details and after one year of giving her enough time to do what is right, I did the necessary by forcefully getting my money with that means, and she still dey owe 3k but I don overlook am....

As in reclaiming the Sim?

Oduduwa707:
The thing is most Nigerians lack integrity! They hate paying back loans.

I recently loan an old (>60yrs of age) fool N1.5M and, you needed to see how he was prostrating and begging. I was so embarrassed as I've known him since forever (when I was a kid). He's more like an uncle to me. He'd assisted my parents on several occasions with driving for which he was paid. I never really trusted him to pay back but, he needed it so much and I could kinda afford to part with it. I risked it all and gave him the amount to be paying back N50K on a monthly basis. 6mths have now passed and this old fool is yet to even pay a dime. He kept coming up with excuses. I regret ever giving him the loan.

The thing is, I wasn't too surprised as I kinda expected him to default. He's NEVER disciplined. I'm patiently awaiting KARMA to deal with him...

I have made the same mistake as you but I learnt an important lesson - do not ever loan money to someone who is much older than you!

Sanni45:

I don't just know why humans are like that. When people need things they can be very submissive but when they get it they tend to lord over you. It is quite pathetic.

The trait is common with Nigerians

I stopped asking for my money the day he told me "you no go forget this money"?

I simply write off the debt and avoid making the same mistake with the same person next time..... It doesn't stops me from helping other by the way.... So what I learnt to do is give what I can rather than borrowing ....

Kobicove:

I have made the same mistake as you but I learnt an important lesson - [b]do not ever loan money to someone who is [/b]much older than you!

Very true. Imaging calling your debtor for your money and you keep answering ''Sir/Ma'' when the person is annoying you for bridge of contract,
but the fear of being insultive on an elderly person wouldn't let you raise your voice at them.
We're learning everyday anyway

pocohantas:
I hate debt recovery, so I will rather play safe from the onset than find myself in that position. Some basic rules of lending that works for me.

LoL.

You are a grade 1 risk-averse type Financier.
Not that there's anything wrong in that though.

Also Shhhh! How dare you tell Nigerians that large weddings/Burials & Child dedications are 'optional'
Occasions.

Hahaha.

adedayoa2:
I stopped asking for my money the day he told me "you no go forget this money"?

I think it depends on the amount.

that was how My married man friend begged me to loan him money about 1week ago to payback the next day, up till now i still Dey beg am to payback.(he no Dey pick my calls again). I still can’t believe this man go do me this kind tin..

NO way!

Nwanne, if e reach money matter, I dey take things personal o, no matter how close we are, and if you refuse to pay me, we go exchange some punches or na to carry you go put you for arụsị straight up, I no get time for long talk.

SeaTrade:
They are not funding anything ,that is what they want you to believe.A person who understands business will never want to owe a creditor for long so as not to destroy his line of credit.
All they do is to appear flashy to make you think they are doing well so that you will fall for their borrow scam.
A person doing great in business most times don't even have the time to be flashy or let alone the peace to do so because business carry plenty stress,
All those charlatans making noise online are most times wannabes.

Nnewi man wear bathroom slippers,riding ladies motorcycle.
But na him get d 4 units of identical 4 decking for him street.
If he buy,he go ask you,do u need d 4 million in cash?

Lend out what u know u can let go

nedekid:

As in reclaiming the Sim?

Yeah, very simple, I walked into an MTN store, and requested for welcome back sim...

Easy- do not loan any amount you cannot afford to lose if they do not pay you back
My limit is 1k, if person cannot pay me back. I do not worry.
Do not loan on a loan, if someone owe me and they do not payback. And they ask again, forget it.

CaptainAyub:

Nnewi man wear bathroom slippers,riding ladies motorcycle.
But na him get d 4 units of identical 4 decking for him street.
If he buy,he go ask you,do u need d 4 million in cash?

lol na so na,
When you ask our modern fresh looking "entrepreneurs" for 1m funding for a deal that will benefit them,no kind story you no go hear from their mouth ooo.

Darlingme:
She's so mean. Too bad. I'm sure when she was collecting, she was smiling and appreciating you, but time to pay back, story came in

That day be like film to me now when I remember everything now, I had to even rush to the bank since she claimed it was urgent to help her make withdrawal as it is my savings account with no ATM or any other means of transfer and my other account had lesser amount.. But see how some people behave.. The insult and playing on my intelligence will not let me go of that money, the month I lent her was December 2019 and work was times 3 of what it used to be meaning I had to leave home by 4:30am and at times got home between 12 and 1am of which I was paid 30k at the end of that month instead of 70k, as mgt gave excuses and that they will meet up the next month which they never did and one idiot will play me wayo just like that...

I offered them a deal they couldn't refuse.

Klass99:


Chisos all these insults and threats on top person money wey you borrow?

That girl is a real piece of work ! You tried.

I just left her because I have other things to deal with and my consolation is the irony in her message of badly needing it and came to her rescue but same me can't help people according to her level of foolishness...

They aren't your friend though but you need to trek this path carefully else it can consume you....!

tafat:
I offered them a deal they couldn't refuse.

what kind of deal. Share. Let's learn

Darlingme:
Why is it so difficult for most people to keep to their promises, to remit debts?
You help someone with loan based on aggreement and trust, but when it's time to remit, they come up with excuses, default, making you look like you're too weak, too simple and when you get upset and raise your voice, they tag you as being Money conscious.
On your own part, you don't want to lose relationship/friendship/family with them. you consider their struggles, yet, when they have your money either From their salaries or other means, they wouldn't still pay back.
Have you ever been in this kind of situation?
How were you able to handle this kind of people without becoming enemies?


https://www.youtube.com/watch?v=BmNFHNyHUEU

I'll just go straight to the points:

1.) There are what we call 'bad debts'. This is a type of debt where you have to forget because the debtor don't have the ability to pay back and there's nothing you can do to change it.

2) SEE FINISH PEOPLE : These group of people are family members and close friends. They take advantage of their knowing or closeness with you to not pay back because they believe you can't hurt or try to force them to pay.

3) YOU ARE RICH OR DOING WELL: When your debtors see you in this way, it'd be difficult getting your money back because they believe you don't depend on the money and so don't need it.

4) WICKED ONES / BULLIES: This group have the money to pay back but just refuse to refund for reasons best known to them.


You should also note that there are people who really would have refunded at the said date but things didn't work out as planned. Whichever it is, you MUST make enemies and relationships will be broken if you really have to collect your money, unless you just want to let it go based on circumstances.

Again, there are debts you will not have any choice than to let go. I borrowed a friend some money for his mother's medication. I waited for over two months from the time he was to refund. But when I paid him a visit to ask for it, the condition I saw his mom wasn't nice and I couldn't even ask him. When I walked out of the house, I just knew it was a bad debt and I may never get it back anytime soon.


Bottom line is, YOU WILL NEVER GET ALL OF YOUR MONEY BACK AND RELATIONSHIPS WILL GO SOUR.

Omo, humans are something else. Borrowed a friend a lot of money oh, very close friend! She said she would pay back in 2 months, it’s more than 2 months now but I already considered a grace period of 2 weeks because I know say she fit no fit pay at the exact time. The grace period don almost pass self, the worse is she is not returning my calls. Normal call of how are you doing na wahala.

If you can’t pay as when due why not say it than hiding, I really value our friendship and wish I can get my money back without any issues between us. This is not an amount I can forget else I would have, it’s more than a million and I only gave her that much because I don check her pocket and she fit pay. But if she doesn’t then we go drag am wela.

Darlingme:
Why is it so difficult for most people to keep to their promises, to remit debts?
You help someone with loan based on aggreement and trust, but when it's time to remit, they come up with excuses, default, making you look like you're too weak, too simple and when you get upset and raise your voice, they tag you as being Money conscious.
On your own part, you don't want to lose relationship/friendship/family with them. you consider their struggles, yet, when they have your money either From their salaries or other means, they wouldn't still pay back.
Have you ever been in this kind of situation?
How were you able to handle this kind of people without becoming enemies?


https://www.youtube.com/watch?v=BmNFHNyHUEU

stop borrowing.

raymondhillmimi:
Omo, humans are something else. Borrowed a friend a lot of money oh, very close friend! She said she would pay back in 2 months, it’s more than 2 months now but I already considered a grace period of 2 weeks because I know say she fit no fit pay at the exact time. The grace period don almost pass self, the worse is she is not returning my calls. Normal call of how are you doing na wahala.

If you can’t pay as when due why not say it than hiding, I really value our friendship and wish I can get my money back without any issues between us. This is not an amount I can forget else I would have, it’s more than a million and I only gave her that much because I don check her pocket and she fit pay. But if she doesn’t then we go drag am wela.

the country is hard, the best is to stop borrowing. It's difficult for people to pay back loans. Imagine, if a country is deeply in Dept, what do you expect of its citizens.

Darlingme:
what kind of deal. Share. Let's learn

I offered them something I knew they really wanted, the clause attached to the deal happening was the borrowed money being payed back and I got my money. Kind of tricky sha cos this can only help you when you truly have something your debtor really wants

/
Not until you lend money to someone who refuses to pay. You decide to go at it the hard way. But on reaching there and seeing their condition, you come dash them money join.

/

Darlingme:
Why is it so difficult for most people to keep to their promises, to remit debts?
You help someone with loan based on aggreement and trust, but when it's time to remit, they come up with excuses, default, making you look like you're too weak, too simple and when you get upset and raise your voice, they tag you as being Money conscious.
On your own part, you don't want to lose relationship/friendship/family with them. you consider their struggles, yet, when they have your money either From their salaries or other means, they wouldn't still pay back.
Have you ever been in this kind of situation?
How were you able to handle this kind of people without becoming enemies?


https://www.youtube.com/watch?v=BmNFHNyHUEU

In my own case, we turned enemies before we became friends again after collecting my money from him...
It happened that my brother in law was in dire need of money and came crying to me to loan him 50k, I did without wasting much time, the day was set for him to pay back but he pleaded I give him an extra week, after the extra week elapsed, I purposely decided to add extra 2 weeks to it but all to no avail, it was obvious he didn't want to pay back because of family sentiments, then I began calling him but he wasn't picking his calls, next thing is I Sent him a text addressing him by his name, KAMORU (not real name) ,and you know Yorubas always hate when their wives address them by their first name without adding the brother tag, na so the guy call me back sharply (someone who didn't pick my calls for days).
To cut the long story short, he paid my money but this is not without relating to his sibling s and those who cares to listen what ensued between us, but trust me, I fired back at every person who tried to inquire insisting that he borrowed my money and he should do the needful ..I can't loose my money and loose my relationship at the same...No time for rubbish...

I remember lending someone almost 100k in October 2020 with the promise of paying back in December 2020...dude didn't talk about the money again until March this year when he asked me to lend him 2k...haaa....I just opened fire...I said alot of things, reported him to the person who introduced us b4 I eventually got my money...he's trying to be friends again but no way.
Another lady who is a colleague, older than me, has been owing me 100k for 3 months now...and she keeps buying flashy things from vendors who come around the office on credit...I just know I'm in trouble...I asked her for the money, it's one cock and bull story to the other. my man has told me I won't get the money till next year...
I won't lend anyone money again...NEVER