Topic: How do you handle borrowers? - page 2. (Read 1109 times)

First, when providing a loan to someone, you must understand that there is a risk that you will not get your money back.  Hence, you must only loan your excess money (something that you can accept if the person choose to not pay you back ).  If you already permitted someone to borrow money from you and that person wants to borrow again, the decision to let that person borrow again is depending on that person's past record of paying to you.  If that person is a good payer, then you can just let that person borrow again.  If that person is not a good payer, then just firmly say No.  Just reject the person in a polite way and provide your reasons in a gentle manner.

Borrowing money is not too good because it's not everyone that will keep to their words. If you borrowed one $10 he/she might not be able to pay back in time and it might result to conflicts like you say. Any amount you can not risk you shouldn't borrow it out, when you have only $10 you shouldn't borrow it out at all because you can't afford to risk it on someone that won't pay back on time or not at all

I have few experiences where you borrow to a friend and it becomes more difficult to get back whatever you borrowed especially money. One of few lessons I learnt was to know the financial capacity of that your Friend or relatives and only lending out an amount he/she can afford within the time frame to pay back, to avoid conflicts. Because this context of borrowing has been the reason for many broken friendships or brotherhood. So even if a friend asked you to borrow him 50$ and you know he can’t afford to pay you back within a week. It’s best you lend him 10$ instead

If someone is demanding too much from you, explain to them that you have goals that you’re working on and that the money you have isn’t enough. Also, you can’t wish they don’t ask you for money if you constantly spend money carelessly around them, so you have to watch out how you spend too.

For people who borrow and don’t return or make it an issue to refund, I let them know they have bought a ticket to never get money from me anymore. Just the way it works here on Bitcointalk; if a person doesn’t pay back, their reputation is gone forever, that’s it for me. Under no circumstance will I give such a person money again.

I don't borrow friends, and relatives money based on what I have experienced in the past, that made the matter to make me look like a fool in the police station because, I didn't have any written agreement with them base on they are very close friends to me but they denied in the front of the police that they did not borrow any money from me but a year later they came back to me to apologize for what they did just that they don't want to enter prison.

 If anyone ask me money and, I know that I have plans for the money in my account, I can give the person as my spirit lead me and I will tell the person not to return the money so that the person will not feel bad that I have money, I don't want to borrow.

I have learned a lot from my experience, there are more people who don't return loans than those who do. So my advice to you is to have the courage to say no, usually you keep lending people money because you feel bad about not lending. If that's your family, just help as much as you can, help them with money that won't bother you if the money is lost. and don't expect to be returned. but if it's someone else just say no.

Depends on the person who borrow money from me because sometimes when it is my sibling or my parent, I never ask my money back from them since I know they were in need and didn't have someone to ask to borrow. I'm having hard time to ask my money back from those who borrowed from me to pay some important things or others and those people are mostly my friends and those whom I know because they seem to purposely forget their debt and they are not worried to pay me be back just because I never ask them.

Relatives and friends will take advantage of you when that's your sole weakness. When they borrow money, they'll just have to show you that they are in a sad and terrible shape for your heart to get touched by their emotion and you'll be caught by that as well. With that emotion, it's what you feel about them and even if they have a different reason as long as they're able to successfully touched your heart then you'll later on going to give it to them which is a bad trait. Because I've been there and they'll take advantage of you every time they are in need of money and worse if they don't even pay on due or never paid.  

If this is just a person to person lending, and it's mostly discussed about verbal agreements. The requirements will be easy because you're lending them out of good will and your concern to them. But many of these borrowers are going to take advantage of you so, when you get to that point, always point them out with the actual lending business and see if they'll be able to ask money from them easily just as how you as a person lent them.

And they are not even grateful that you've granted their loan with that much terms but all you are asking is to get paid by them even with no interest. But you know in these times, many of them forget your good times that you've lent them and will even get mad upon reminding them about their default.

Lending is a business to someone credit companies most especially in African countries so, the idea of lending what you can afford to forget is a wrong notion.

Try to ensure that every borrower should provide an equivalent property as a collateral. If it is not for profit making then stop borrowing them.

Just like gambling, trading is very risky. We always say that it is better to use the amount of money that you can lose for gambling or trading. Similarly, you lend the amount of money that you can lose. There are many people in the society who take loans but later do not repay the loan money and he walks around very peacefully. Many people have come to me for this day who have come to me for loans in the first case I must have given the loan those who have taken the loan in the second case they have not come to take the loan because they have taken it once and then they do not come again creating a dilemma within themselves. So always lend the amount of money you have the patience to lose, never lend more than that, every time you lend, you will slowly become destitute.

If they want to borrow something from me, they must really be in sad shape. At least, for the moment, I have a roof over my head.

There's a lot of challenges going on with every individual it's possible to help everyone who's in need  when you are willing to help your fellow brother or friend and you have enough money to give to him when he's in need of it remember we should always do good it comes back to us unexpected ways.

One of the very toughest situations where you're on the edge of the world. My friends always seek financial help and I been helping them at my best. but when i get into some difficulties or tend to ask the money back. I have to go through the whole process of explaining why I need the money back.

After learning about them I made a strict policy to myself. It's a BIG NO to borrowers than saying YES and losing the respect and bond we had over anything.

Just being practical is more of a way to handle them.

One should not borrow money from one's family members if not returned on time it spoils the relationship and causes problems. Like any contract there are bound to be misunderstandings. Problems involving money can be especially tricky if a family member who agrees to lend money may need to repay the money before the agreed time or you may have difficulty paying the loan on time. Borrow only you can afford to pay back. Don't borrow from a family that you think may bring chaos to the family. If you take a loan from the family and repay it on time the bond is strengthened.

You hit the point very well, the money you can't afford to lose is what should be given to family members,  one of the things that has always made family members to have misunderstanding is because of disagreement of money.  When it comes to money between family members people need to be careful because when family members are not in good terms it is very difficult to bring them back, so it is better to lend them money that you can't afford to lose.

What i do?

Instead of Loaning  them the amount they needed I only handing them smaller amount

e.g . Borrowing 1 hundred dollars , I gave them 20 dollars instead but telling them it is
not a loan instead a Help so by chance they wil not come back to ask again because I already helped
them and they are too shy to ask for another in long time unless very important of emergency.\


Have done this many times and till not it helps , because the problem about loaning
our family members or friends is?

1. we may lose friendship/closeness because of the said loan.

2. Respect will be gone because of Unpaid loans.

So my way prevent that from happening for many years now.

Its very hard to borrow a family relative money when you know that such person can't pay back whenever you needed the money or when the date is due giving or borrowing family member money is like sinking your money into Well because they will feel you have enough to even cover up maybe when you request the money you turn to their enemy because you simply request for your money, to me what i will always advise anyone close to me when giving a family member money you should only spare out the amount you can afford to loss because borrowing a family member money is like dashing them that money so you don't expect a pay back even though they personally request to borrow the money.

That's right, this is the way to avoid any problem about that and it's very simple. You can really refuse if you yourself don't have money to lend to your family or friends, they will understand that. If you have something extra that you won't use, you can lend it, it's that simple. And I also agree with what you said that you should not expect to be able to return the money that your family borrowed because it is your family, not someone else's. And actually I am that family, I borrow money but I don't pay it back. Only for a small amount.

It's crazy how some persons or family members always expect much from a person once they see the person has a nice job and is doing pretty good. They don't understand that most times you might not in perfect condition to be of aid to their problems and some will make it look like you being greedy.

One things I know for sure is I give what I have and if i don't have to give I clearly tell the person, so he has the option of looking else  where I wouldn't take loan on behalf of them.
Sometimes they should learn to do things on their own without the help of others, that's being dependent

Borrowing has been part of human existence , no one has it all , most times we help irrespective of the little we have … there is this popular saying that states that “givers never lack” , So when you give Dont expect anything in returns But when it comes to lending money to people very close to you ! I will inarguably Say that it is not wrong even when you know that the Person cannot pay back just try as much as possible  To give out funds that you can let go … Dont expect So much from the money you give out as lending To someone around you because disappointment is certain .