Topic: How do you handle borrowers? - page 4. (Read 1109 times)

These two ideas are good and the first seem to be the general concensus about the way people treat the issue of borrowing money but the second which is letting go of the money they want to borrow as trap but that is dangerous depending on how much is involved and your strength to forfeit it. If the sum is huge, it will be difficult to do as a trap except it is still within your reach to forfeit it. I still prefer the first one to be used especially if you know the person will not be able to repay how much is involved.

How do you handle borrowers?


Remember one major thing. With regard to you, they aren't borrowers until they have borrowed something. And then it is too late.

This is the same thing I do, if I want to give money I give the amount which I know if I don't get it back I won't be bothered about it, and getting the money back will determine if I'll still give out  money to the person. People who borrow money and choose not to pay back don't know the harm they are  doing to themselves because they may be in serious problem that can lead them to the person where they borrowed money but because they didn't pay back they won't be given the same opportunity this time around. It is always good to have integrity when it comes to money.

The best thing to do is to give them the amount that wouldn't be a problem to you,so that if they can't pay back,you wouldn't be who worried about it. Another way is to set a trap for them by borrowing them whatever amount of money that they asked. If they can't pay you back,then you can use the previous unpaid debt as an excuse.

I have borrowed some money from a friend but each time I think of my debt, it baffles me and the moment I get paid,I will quickly pay them back and if it is a huge sum,I will pay part of it. Borrowing is not good for someone who wants to have financial stability. I know of a friend that lives his life on borrowing and paying back with interest,but he is not living a comfortable life because he uses majority of his income to clear part of his debts as the interest keeps on increasing.

Learn this first lesson from the school of thought, don't borrow people money you cannot afford to loose, instead of borrowing them, try to give then the little you could afford to help them, lending people money will just compound some people's problem because they will never have enough to use and will not as well be grateful that you lend them money later, only few managed to make refundment of the money they once borrowed from others.


I don't usually borrow people money, when am being asked to lend them, i only give out what i can afford to freely help them with it, i chose to use this kind of method after several encounters on being disappointed by people especially those so close to me.

As for me I only lend my friends some money that I think they can easily pay me back and also I don't mind losing it because sometimes those people don't return back the money they borrowed because they might already forget it or they just don't really care to pay back again and when that happens when they want to borrow money from me, I will tell them I don't have any money. I'm not lying about this but what I meant to say is, I don't have any money to lose anymore because I'm working so hard to get that money and they promised to pay me but they didn't do it at all.

Well, I've got relatives that mostly tell this when they're being approached. That's a good excuse if a person do really insists to borrow money from you and they're picking an argument that you can afford those things.

Another good answer is to say that they're not part of the budget and thus, you're able to afford those things because you've planned it very long and worked hard for it until you've got left nothing in cash.  

Regarding owning a Tesla and good clothes and a mansion, when they ask you to borrow, you can always tell them that you are so deeply in debt that you don't have anything for them to borrow.

I have been doing this for years and even though I am not very rich at all. This is effective that someone wouldn't come to approach you whenever they're in need and only will catch up when they need you.

Well, I wonder how you're going to hide it all when the market becomes better and you'll be cashing out some profits.

Proven and tested, you don't give them loan but if they ask you then you should be willing to just give if you've got some spare at the amount you're thinking that's gone and unpaid forever.

If someone owes you money and is not repaying it, there are some steps you can take:

Communicate: Start by reaching out to the person and kindly remind them about the debt. Give them an opportunity to explain any reasons for the delay in repayment.

Set clear expectations: If the person acknowledges the debt and agrees to repay, establish a clear repayment plan. Discuss the repayment schedule, including dates and amounts, and ensure both parties are in agreement.

Put it in writing: To make the agreement more formal and legally binding, consider drafting a written agreement or promissory note that outlines the terms of repayment. This can help protect your interests and provide evidence if legal action becomes necessary.

Be persistent: If the person fails to repay as agreed, follow up with polite reminders. Keep a record of all communication and documentation related to the debt.

Mediation or arbitration: If the debt remains unpaid and the relationship is becoming strained, you could suggest involving a neutral third party, such as a mediator or arbitrator, to help facilitate a resolution. This can be a more amicable way to address the issue and find a solution that works for both parties.

Legal action: As a last resort, you may need to consider taking legal action. Consult with an attorney to understand your rights and options for pursuing legal remedies, such as filing a lawsuit or pursuing debt collection procedures.

Remember, each situation is unique, and the best course of action may vary depending on the amount owed, the relationship with the person, and your own comfort level with pursuing legal action.

Usually if this happens to me personally, there are several stages, which I will do to get a decision, to lend or not.

The first thing I will do is measure my own abilities first, in terms of the finances that I have. Do I have cold cash that I won't use in a long time, Or nothing. Then if I have the cold money, I will definitely proceed to the second stage.

Then for the second stage, I will definitely see who will borrow the money. Because for example, if that person has something I don't like, especially in terms of attitude, I most likely won't lend that person money. Because people with a bad attitude usually find it difficult to pay when it's time to collect debt, and it will definitely make things more complicated.

And for the last stage, I will definitely ask the person the reason why he wants to borrow money. Because if the reason he is borrowing money is for something that is positive or for something urgent and concerning. I will definitely give him a loan.

If this situation has occurred, I will definitely continue to collect debts from the borrower continuously. But if the borrower still doesn't pay it, I will definitely let it go, if the money borrowed by that person is not too big. But if the money borrowed is quite large, I will definitely make a letter of agreement with that person, just in case the person is still reluctant to pay the debt, I will confiscate the items that the person has whose price is in accordance with the debt he has.

Usually the collateral is about his personal information, when they can't pay their loan, the debt collector will always contact them and even come into their house to force them to pay. They will intimidate the loaner's family and his neighbor too, so it will make the loaner's family feel shy and want to get rid off from the loan. Most of the time, they will pay the loan because of getting pressured.

That’s a tough situation. I know how you feel. I have a lot of family and friends who are always asking me for money. They think I’m a bank or something. 😒

I have a few strategies to deal with them. First, I always ask them what they need the money for. If it’s something urgent or important, like a medical bill or a rent payment, I might consider helping them. But if it’s something frivolous or unnecessary, like a new phone or a vacation, I say no.

Second, I always make them sign a contract when I lend them money. I write down the amount, the interest rate, the repayment schedule, and the consequences of defaulting. I make them read it carefully and sign it in front of a witness. Then I keep a copy for myself. That way, they can’t deny or forget that they owe me money. 😏

Third, I always follow up with them regularly. I send them reminders and invoices every month. I call them and text them and email them and visit them. I make sure they know that I’m serious about getting my money back. I don’t let them ignore me or avoid me. 😠

Fourth, I always cut them off if they don’t pay me back. I don’t lend them any more money. I don’t do them any favors. I don’t invite them to my parties or events. I don’t talk to them or hang out with them. I make them feel the consequences of their actions. 😤

These are some of the ways that I handle the situation. It may sound harsh, but it works for me. It helps me to avoid being taken advantage of and to protect my finances.

I hope this helps you too. Good luck with your money problems. And remember, you can always say no to people who ask you for money. It’s your money, not theirs. 😉

The possibility of the poor providing collateral is very small yet they need loan , so what do you do in such instance when they can not provide collateral? I think that is a delicate situation . IMO I think depending on the amount they are asking for, if it is reasonable with what they want to do with the loan, you can split into three also and give to help them without asking for it back, that is if you can afford to especially with family and close friend but a random person may not be of same consideration.

I help as long as I can in my own little way especially if it's a family. Just like now, my brother had a blood clot operation on his brain. Aside from the financial help that I can give, I'm also one of his companion in the hospital until he's discharged.

I experienced this many times and it's really disappointing when someone you trust failed to return the money on the promised date. So you can only borrow if you're responsible, otherwise you can't repeat borrowing from me since I learned my lesson already.

If they are so poor that they don't have food, even, give to the poor. But make sure they won't be spending it on fentanyl first. Maybe buy the literal food for them.

Other than that, loan to everybody... after you get some collateral from them that is 3 times the value of what you loan out. If they don't repay, the collateral is yours.

I came from a country where family is deemed the most important and the culture of lending money to them is prevalent. If you don’t give them money, you’ll be considered as someone who isn’t kind. A lot of people are saying that it’s not your responsibility to give them money but like I said for countries such as mine, denying them is not the easiest thing to do. There’s really no other way but to just give what you can when they really need it. A lot of people however would end up borrowing money from you again and again if you give them one time so it’s better to tell them  that you’re also short and have no extra money to lend. You’d probably feel guilty (depending on your relationship with your family) but you can’t sacrifice your own finances to help someone.

I handle borrowers the same way I handle browsers. I don't give an inch. I don't compromise. There is a good saying in my country: "If you give your hand today, you will give your ass tomorrow."

So when a neighbor or relative asks a loan from me, I tell them go fu... no, I tell them to go to a bank. Banks exist for this reason. To provide loans...

If he/she can't borrow money from a bank, well shit, then it means he/she shouldn't be having it.

Family and friends will always be around you ones they know you have money, they can do everything possible to be on your side no matter what as long as they can get what they want from you and they know you can't say no to them. Is really hard to even say no but the best thing is to help and be mindful of how you help out because the day you go bankrupt they'll be no where to be found.
About those who borrow without making any effort to pay back, what I do to such people is let them be without disturbing them, if they decide not to pay I'll take it that I have settled that particular person for life, he won't come to demand for money from me knowing quite alright that he's still owing me, if he/she doesn't pay then nothing for for them, it has to be that way. By doing so it will limit them from coming to ask ones they know they can't pay back.

There's a popular saying that the manner in which people comes to borrow money is not the same manner which they return it. On this note, I only borrow money to people who have no close relationship with me because asking them for a collateral will remind them to pay faster but when it comes to borrowing money to people closer to me or people with close relationship, the best help I offer is to dash them an amount that won't affect me, in dashing them a certain amount which may not be up to what they intend to borrow, I have made it know to them that it's not refundable so they don't let it bother them.

When you borrow some people money, you either end up being seen as a bad person because you requested for the refund of your hard earned money or they see you as part of the bad luck they are having in the family. I have stopped borrowing money to people rather I render some help in my own little way to avoid having issues whenever they fail to pay back.