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Nairaland Forum / Nairaland / General / Family / Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? (44924 Views)
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Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 11:54pm On Apr 28, 2023 |
ModCaller:1. And you say this because realistically everyone has collateral to offer? Or are you suggesting I ask for a kidney at the least? |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by sisisioge: 11:56pm On Apr 28, 2023 |
I no dey borrow person money I cannot let go fa. Learnt that from borrowing an ex over 400k a lifetime ago and dude refused to pay back. I know he will always have restitution standing before him each time he remembers me o but it offered me a good lesson. Money makes people act crazily biko. The nerve and entitlement! If you ask....I go say I no get if I cant let it go. The only person I can borrow to borrow is my sister....she get integrity. 3 Likes 1 Share |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Johnn87: 11:56pm On Apr 28, 2023 |
Kobojunkie:The aim of Business is to make profit The " Business of Loaning involves Security /Collateral." Wise Businessman, would not give out semi-formal loans. |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by SeriouslySense(m): 11:57pm On Apr 28, 2023 |
sisisioge: |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 11:58pm On Apr 28, 2023 |
Johnn87:1. Are businesses allowed to ask for a kidney as collateral then? |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by ModCaller: 12:03am On Apr 29, 2023 |
Kobojunkie: No collateral, no loan. Simple. That's the only realistic approach. 4 Likes 2 Shares |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by 1Sharon(f): 12:04am On Apr 29, 2023 |
I'm not the type of person that asks for help, neither do I lend people money since it causes awkward situations. To the people that borrow money from people and don't pay back, why do you do what you do? 4 Likes 1 Share |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 12:10am On Apr 29, 2023 |
ModCaller:1. I am ok with lending and demanding the signing of promissory notes, something that has worked thus far. . 1 Like |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 12:12am On Apr 29, 2023 |
1Sharon:1. I think on the most part we are not trained from an early age to do these things and as such many have a hard time when it comes to paying back on loans they borrowed as a result. |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by 1Sharon(f): 12:18am On Apr 29, 2023 |
Kobojunkie: What do you mean? If they said they were going to pay back then they should. Some of the people that they borrowed from end up falling into hard times but they still don't care. |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by folake4u(f): 12:22am On Apr 29, 2023 |
SeriouslySense: In summary, we pray God help us all. 1 Like |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by 1Sharon(f): 12:23am On Apr 29, 2023 |
NamelessOGBENI: The people that borrow money and don't pay back are here in this thread, they gone be too scared to comment 6 Likes 2 Shares |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 12:26am On Apr 29, 2023 |
1Sharon:1. I mean that as a culture we do not encourage people to pay back and that's is part the problem. Even many of those same would probably do same to folks they lend from. 1 Like |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by nedekid: 12:29am On Apr 29, 2023 |
Kobojunkie:Ahhh, they do. That is why those days you want to take loans from microfinance banks, regular banks too, you want to finance eg a car, they will ask for post dated cheques for all the monthly payments even if it is for 4 years. Me cannot loan someone money without collecting a cheque. Unless it is money I can afford to loose. If you have the time, read the law below and the cbn response at the bottom. The issuance of a dud cheque is a criminal offence pursuant to Section 1 of the Dishonored Cheques (Offences) Act CAP D11 LFN 2004 and punishable under Section 1 (1) (b) (i) of the same Act. The crux and relevant provisions of the Act are as follows: (1) Any person who – (a) obtains or induces the delivery of anything capable of being stolen either to himself or to any other person; or (b) obtains credit for himself or any other person, by means of a cheque that, when presented for payment not later than three months after the date of the cheque, is dishonored on the ground that no funds or insufficient funds were standing to the credit of the drawer of the cheque in the bank on which the cheque was drawn, shall be guilty of an offence and on conviction shall- (i) in the case of an individual be sentenced to imprisonment for two years, without the option of a fine; and (ii) in the case of a body corporate, be sentenced to a fine of not less than N5,000. Measures taken by CBN Prosecution of the offenders directly; Handing the offenders over to the Economic and Financial Crimes Commission (EFCC) and other security agencies for prosecution; Banning the offender from accessing credit facility for a period of 5 years; Cancellation of all unused Cheque books issued to serial issuers of dud cheques upon the compilation and dissemination of information by CBN; Sanctioning any bank that fails to report serial issuer of dud cheques. 3 Likes 2 Shares |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by 1Sharon(f): 12:39am On Apr 29, 2023 |
SeriouslySense: Lmao.. those loan apps crack me up. Most of them are owned by Chinese or Indians. I heard what they do is even illegal but the average nigerian is not a Saint himself and needs that iron hand to act right. Once they don't pay, the next thing is to embarrass the debtor by telling their contacts they have HIV.. lool 5 Likes 4 Shares |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Caseless: 12:39am On Apr 29, 2023 |
texannaija:simple! 1 Like 1 Share |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Caseless: 12:40am On Apr 29, 2023 |
Zonefree:this is it! |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Caseless: 12:41am On Apr 29, 2023 |
Evestar200:This guy is wicked and very rude. How did you manage to keep the chat up till now with receipt? |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by 1Sharon(f): 12:43am On Apr 29, 2023 |
Kobojunkie: What do you mean? They know that they should pay back but they just don't want to. Why do relationships break down after money is lent? |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 12:46am On Apr 29, 2023 |
1Sharon:1. Like I said, part of the major reason has to do with the fact that culturally, we do encourage individuals to be responsible in such things . |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Streetmovement(m): 12:46am On Apr 29, 2023 |
Wotoporiously speaking I no dey borrow anybody money, if I get I give, if I no get i leave cuz I no want unnecessary bad blood |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by 1Sharon(f): 12:55am On Apr 29, 2023 |
Kobojunkie: Responsible in what things?. You're stressing me out Kobo. |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 12:57am On Apr 29, 2023 |
1Sharon:1. If it causes you stress then maybe you won't see what I am saying at all. 1 Like |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by chatinent: 12:57am On Apr 29, 2023 |
I'm learning big lessons here. |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by DrDunamis(m): 1:08am On Apr 29, 2023 |
Evestar200: Never lend out money you cannot let go. Best thing is to just support with what you can but just don't borrow |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Tohsynetita1: 1:09am On Apr 29, 2023 |
Lets try to be putting ourselves in others shoes in whatever we do. some months ago, a friend of mine wanted to use money for his piggery business, he looked everywhere but hope wasn't forth coming. He then asked me to help him get money of about 500k from a third party. Then I told him that it's not easy to borrow such without collateral and guarantor.He refused, saying he didn't want such. Then I asked him if he can also borrow someone's such without collateral. And he said No. Then I tried my best but was to futility. Then after some months later, I asked him to lend me money of 20k which I will return same day. it was for a very urgent stuff I needed it for . Then he said, he can't lend out money he cannot forget if it wasn't returned. So, I now remembered he was the same person asking for 500k without collateral some months ago. Let's try to put ourselves in others shoes in whatever we do. That kind of person, I can't lend him money in future even if he ask. Some people do forgets easily what they did wrongly in the past and will still come for same help. To me, any money that was given out on the note of "lend" should be returned, no matter how small, you don't assume the person doesn't need it anymore. 4 Likes 1 Share |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Collins4u1(m): 1:20am On Apr 29, 2023 |
Reason why you should be intentionally wicked when doling out money in the name of loan. Give only what you can for-go. 3 Likes 2 Shares |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by TheCongo2: 1:29am On Apr 29, 2023 |
alizma: Very good. That reminded me of something I have red here on Nairaland: Don’t Feed Every Dog You See Hungry, Some Just Need Strength To Bite You. Anyway, we need such dogs sometimes to help us learn more about life and become wise Also, it is not every dog that bites,some are really grateful,some dogs are better than human 5 Likes |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Kobojunkie: 1:38am On Apr 29, 2023 |
nedekid:Thank you so much for this. Evestar200, and anyone else out there who would like to lend to family and friends, but are afraid of not getting their money back, here is information that will be of great help in addition to use of a promissory note. 3 Likes 1 Share |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Natajo2021: 1:47am On Apr 29, 2023 |
Lend money to an enemy, you will have him back, borrow same to a friend, you will loose him forever. This is what is happening to the great US$ who borrow and finance so many countries in Africa for years, they are now turning against United States, supporting Russia and China. I learnt a lesson early in life, never to lend family and friends money. 2 Likes 1 Share |
Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by Truthshscrazy: 1:51am On Apr 29, 2023 |
nedekid:Just read the fine print. If you dont gerrit, forgerrit. Na for Sharp intelligent borrower to simply just add promissory note to pay back in 4months time along with postdated cheque carrying 4months time date from date of cheque issuance . or even 5months time date or 6 . Postdated cheque in the mud.
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Re: Borrowing & Not Repaying: Have You Ever Encountered Such From Family Or Friends? by schoolboymatt(m): 1:52am On Apr 29, 2023 |
scripted, this ain't real. |
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