How do you handle borrowers? - page 5.

Dzwaafu11

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you.

Being helpful is crucial. We all know that when you have money, you should try to help those around you because doing so will lead to greater success. However, these things can always happen when you always show up with money, and I think people will always come to you with financial issues at any time. But I don't typically flaunt my wealth to my family and friends. When they ask, I often give them 45% of what they requested since I always believe that if I can completely satisfy them, they will still come back. However, I want them to understand that I am that kind cash-strapped.

Quote

How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

Since they have already let me down once, I don't really try to borrow them money again if they don't pay it back after the first time. I don't give them another chance because even if I try to help them out, they won't pay me this time because they have already let me down once.

Ndabagi01

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

This is a really important matter to manage. But basically, I don't even let them know I have money to give them or show any indication that they can obtain what they want from me. Sometimes, your actions and reactions to things make them feel dependant on you, and they will constantly want to lean on your riches, which many will not want to pay back, and they will use the phrase "relatives" to reap you off your wealth. It is preferable to have the idea of dashing out your money to your relatives rather than having the mindset of it being borrowed by them and awaiting a return; otherwise, you may stay forever and never get it back.

Gozie51

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Quote from: Lordhermes on July 17, 2023, 05:41:11 AM

you will see people coming to borrow money from you with good smile and when you ask they pay back, they will start ignoring your calls and text. so have learnt never to borrow what i can not give away.

They say the face that people use while they want to borrow money is not the same face when the time comes for repayment. That ignoring of phone calls by debtors is a known fact. It is an obvious signal that the debtor is avoiding payment. Although sometimes it may be that the money for repayment is not ready but it suppose to be related to the creditor but out of shame, the debtor could be avoiding the call. At other times it might be an exit scam outrightly

Lordhermes

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Borrowing has cost a lot of disputes and shame to the society and to individuals, because people who borrow in good manners end up not meeting up and always return it in quarrel or fight. given the lender problem.

you will see people coming to borrow money from you with good smile and when you ask they pay back, they will start ignoring your calls and text. so have learnt never to borrow what i can not give away. e.g if you want to borrow 5$ from me, I'll give you 2$. so in case you didn't pay back, I'll not bother.

secondly, have stopped borrowing money to family menbers, instead i dash them. to avoid crises in the family.

thats the only way to handle borrowers.

paxmao

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Quote from: Hispo on July 16, 2023, 06:35:17 PM

I mostly try to keep my financial situation as private as possible and only share it with my parents, who are very discreet in those matters.
In my family we a re accustomed to help each other with money, we do not offer loans but rather give away when someone is in need, so there would be no future problems because there is no actual debt generated in the first place.

There has been many instances my mother has gave money to their sisters and even the children of them, without expecting any payment back. It is better that way I think, it keeps family closer to one another.

In my case, I would not hesitate to support my near family financially - I can trust them as they are "simple people" with "simple lives" which means they do not get into trouble and stick to a very boring, predictable and stable style of life. Perhaps that is the reason why they never had to ask me for any short of financial help. Speaking of me... I do not recall ever borrowing more than the equivalent of 20 usd, and that because I forgot my wallet or the like.

Hispo

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I mostly try to keep my financial situation as private as possible and only share it with my parents, who are very discreet in those matters.
In my family we a re accustomed to help each other with money, we do not offer loans but rather give away when someone is in need, so there would be no future problems because there is no actual debt generated in the first place.

There has been many instances my mother has gave money to their sisters and even the children of them, without expecting any payment back. It is better that way I think, it keeps family closer to one another.

Cryptomultiplier

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To remind them softly helps in cases where it is important they return what was borrowed, unless borrowing is the business, please enforce authority. If it is something that holds little value and can be easily replaced or there's a spare or somehow you seem to manage well without it, you can leave them to their memory, until they remember.

For family or friends, firstly remember, what are friends for, if not for inconveniences. Family is family. If it is something you can overlook, please do so. If not, remember they are the only family you got to remind them still. If they respect you they will refund what was borrowed, if they don't respect you, they won't return or refund. Still, they are family.

The best way to avoid such a scenario is avoid borrowing in total.

BADecker

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Jones lives in the house next to mine on the right. Smith lives in the house on my left. Jones borrowed my lawn mower from me. He never brought it back, even when I asked him for it.

Smith came over and wanted to borrow my lawn mower. I told him I couldn't loan it to him, because Jones had borrowed it, and never returned it. I didn't have it to mow my own lawn, to say nothing about loaning it out to my neighbors.

Smith went over to Jones's house, beat the crap out of him, and brought my lawn mower back to me. So, I loaned it to Smith, because I was too scared that he might beat the crap out of me if I didn't.

Cheesy

EDIT: BTW, Smith brought my lawn mower back after he finished his yard. But now the cops are after me because Jones told them I hired Smith to go beat the crap out of him, and Smith won't tell them the truth, that it was his own idea.

Jawhead999

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When dealing with individuals who don't repay borrowed money, have a direct conversation about their obligations and the importance of fulfilling their commitments. Consider establishing clear terms, such as repayment deadlines or installments, to minimize the chances of future conflicts.

It's easier to be said, than done.

There are many good lenders out there are always contact the borrowers everyday to repay the loan and using clear terms is useless because the borrowers will not care about it. This make the lenders just want their money back, at least the initial money without interest rate, but the borrowers always say they don't have money.

When you force and give them pressure to pay, they would angry and might attack you.

noorman0

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

-snip-
constantly demanding

I don't want to let them do that because it's a bit annoying. The solution depends on whether the relative has a bad loan history, either with you or anyone else. From there you have a conclusive estimate of how responsible they will be if you grant the demand. If they are bad at this, I might just give a modest amount of money out of generosity.

Zlantann

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you?

You cannot please everybody. If you want to give everybody that ask, you will end up in debt. It is good to help those that are in need but you should do so based on your capacity. You should have a budget of how much you can give out to relatives and friends. Do not exceed the budget because you need to save for your future. If you spend all your money on people, you might not get the same financial help when you need it. Politely tell them you don't have and inform them when you can afford to help. Don't mind if they get offended because you must protect your interests first.

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How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

Lending is like cryptocurrency, give to only people that you trust will repay the loan. You can ask for collateral if the person is not trustworthy. Borrowing is also like gambling, only lend what you can afford to lose. When someone I don't trust asks for a loan, I will assist the person with part of the loan which I can afford to lose. Even if the person fails to pay me back, I can bear the l

Adbitco

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One thing certain is that when they noticed you are beginning to give money and helping people around request will increasing everyday by day, and whenever you keep lending to people and they noticed you are financially buoyant the request for loan will also keep increasing as well. As human being we are all we need to do is not to satisfy everyone, we should choose among people we are comfortable with while given out money to them, it could be loan or gift.
For people who borrowed money from you and never wanted to repay back their loan, I think the best thing to do is to start collecting collateral from them and it should be that what you will request as collateral will be more beneficial to you than the amount giving out to them so that it would attract them to repay back with immediate effects.

coolcoinz

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I have more money that I show to my friends. I don't show off wealth, so they don't know how much I really have. Almost nobody asks me for money and if they do it's very small amounts and I give it to them.
Best thing you can do is look poorer than you really are. Believe me, you might think like you need attention, but you don't.

Liliana1304

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Of course there's not like some hidden formula to keep borrowers at bay but I feel you can limit how often they come to you by giving with interest. Some people get put off by the mere thought of paying extra after borrowing.

It can be challenging to borrow especially with the current economic situation and begin to wonder if this person might be able to meet up so I understand your situation, Op.
I prefer to give if I have but try to limit how much of a Santa I become because such can not just be physically exhausting, it will also tell on your finances.

Gozie51

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other.

If you have you extent to them because you will not be buried with the money you have.

Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How about people who borrow money from you and never return it or even show any effort to make payment back to you,

This set of people who borrow with the promise of returning it and never do are funny set of people. They actually make no effort to pay back at least most of them and the shocker is that they pretend to have returned it to you. You can see yourself arguing with them when they shock you with such information that they have returned it Grin

Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

how did you go about the situation?

If you think the borrower just want to run away with the money, then you may give part of the money on the request that you can forfeit. You may not disclose to the person that you won't ask for the money but within you, you have decided not to ask for it again and if the person comes back to repay it, you let them know it is a gift. I think such surprise will be an imprint in the annals of time in your relationship with the person.

BADecker

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How do you handle borrowers?

Loan them anything that they ask for. Of course, if you don't have it, you certainly can't loan it. So, when they find that out, they will stop asking after a while.

Jesus said, in Matthew 5:42: "Give to the one who asks you, and do not turn away from the one who wants to borrow from you," - https://www.biblehub.com/matthew/5-42.htm.

Jesus also said, Luke 14:33: "In the same way, those of you who do not give up everything you have cannot be my disciples," - https://www.biblehub.com/luke/14-33.htm.

This give you a double opportunity:

1. It gives you an opportunity to graciously give up everything, by giving to those who ask to borrow them (You know that many borrowers never pay the things back.), so you can be a disciple of Jesus.

2. You know that you need some of the things that you are giving up. So, it gives you the opportunity to talk "Jesus" to the borrowers, requesting them to not ask to borrow from you, but to give up everything, so they can be disciples of Jesus just as you are.

Cool

imeycrypto

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

First set clear boundaries and communicate openly with your loved ones about your financial limitations.
When dealing with individuals who fail to repay borrowed money or make no effort to do so, have an honest conversation, establish clear expectations, and consider seeking professional advice if necessary.

Apocollapse

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You should only lend maximum of 50% from the money they ask, you could only lend 10% to lower the risk of being scammed.

If they're force you to give them all, you need to learn about giving many excuses. The last solution, you can ask them to take a loan from bank or online service. The reason why your friend and family can ask you money is you're look have a good life, so you need to wear a cheap clothes and avoid wearing jewelry or expensive thing.

Bountyfox

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Establish clear boundaries and communicate openly with your loved ones about your financial limitations, while encouraging self-sufficiency and addressing non-payment issues assertively to maintain a healthy balance between helping others and protecting your own financial well-being.

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Quote from: Queentoshi on July 13, 2023, 04:37:55 PM

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

My ex director told me something very unique about how to handle these guys even if they are close relatives or parents,of course parents and relative we help each other as much as we can so most likely this advice is for those people who borrow money and never turn it back,we had a lot of bad gamblers in my previous company and the director was not a gambler.They kept asking him 10-30 dollars lending money and he told me that he used to gave them 100 dollars and if he did not get them back,it was the best 100 dollars spent in his life as he would have nothing to do with them anymore as they could not ask more money before paying their debt.

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