lending money to people. - page 3. | Bitcointalksearch.org

o48o

legendary

Activity: 3052

Merit: 1168

Leading Crypto Sports Betting & Casino Platform

Quote from: Queentoshi on November 27, 2022, 12:10:34 PM

The biggest fear with lending money to someone is getting the money back, and no matter how we decide not to give again after someone we have given before refused to pay back you'll find out that there are still some people that you still give regardless of your strong decision to stop lending money. What are biggest factors you consider before giving to these people? For me, I consider if the person is reliable and someone that keeps to their words, the persons financial status to know if they can actually pay back the money especially when it is a big amount, and I consider our relationship.

I like to lend to my closest friends. Because most of the time i have lent to some distant acquaintances i've never hear about that money again.

But i was wondering if i should lend bitcoin to trusted people in this forum. Only probalem these days is compex taxation and just moving money to other wallets and back could get me in trouble if i couldn't remember that what i have loaned and to whom. So i would have to keep a journal of my transactions for several years after i've lended, which seems like a lot of effort for helping someone. I sometimes wish that we got back to simpler times when no one cared how much bitcoin i had.

Sayakaaja

jr. member

Activity: 98

Merit: 3

lending money to people in need is a noble act. he had rescued her from misery. but if the money lent has not returned, then frankly I don't know how to handle it. there are so many people like this, not because they don't want to give it back. maybe that person is being hit by something that makes him unable to pay quickly, this is understandable. but it's different from someone who already has a lot of money and he doesn't remember that he has a debt to us, or he deliberately doesn't pay it, this is really very bad. sometimes when we charge him in a good way, he avoids it. and somehow a feeling arises that says I don't want to give him a loan anymore.

if we have money owed to other people, and we have a lot of money. then we must first pay the debt. except for people whose condition is still very concerning.

348Judah

hero member

Activity: 714

Merit: 521

I being someone who has learnt alot of lessons from lending people money have seen enough experience through this kind of act whereby i have only concluded with giving out money for free to people in need with the same amount i can afford as a gift than lending them the amount I cannot afford to loose, becau once they got the money from you, they turn to be the boss and you begin to chase them around for refundment which you later tuen to be the the bar person to them for your demand on refundment, they sees you as their enemy and turn back at you, what i don't know is maybe they easily forget the time they use to beg to lend the money or maybe they expect you to forget the money and live goes on, because I've been in the shoe of a creditor to many who have defaulted and i turned their enemy.

yazher

hero member

Activity: 2268

Merit: 588

You own the pen

I only lend them what they can afford to pay because lending them too much will be the same reason for you to stop talking to them and they will gonna hide from you. This is based on my personal experience and we lend without putting interest because it is forbidden for us but still, only a few people are considering to mind paying it back because others think it won't be necessary to pay because you are getting money from your job. I only lend to my friends but not all of them are trustworthy because most of them didn't pay back the money I lend to them. years and months have passed already.

Apocollapse

hero member

Activity: 1148

Merit: 796

So you're discuss about a friend want to get a loan from you right? let's say your friend ask you $500 and he promise he will pay back in full amount to you in the next month, what will you do? considering he's your best friend and have been pay you back about your previous loan. If your answer you will give $500 for him since you're trust him, you're make a wrong decision.

If I were you, I will only give $100-$250 and I don't mind if my money gone, since I think those money is just a donation for him and I wouldn't give him full amount in order to prevent he can't pay back his money.

xSkylarx

hero member

Activity: 2366

Merit: 594

Quote from: Queentoshi on November 27, 2022, 12:10:34 PM

The biggest fear with lending money to someone is getting the money back, and no matter how we decide not to give again after someone we have given before refused to pay back you'll find out that there are still some people that you still give regardless of your strong decision to stop lending money. What are biggest factors you consider before giving to these people? For me, I consider if the person is reliable and someone that keeps to their words, the persons financial status to know if they can actually pay back the money especially when it is a big amount, and I consider our relationship.

Trust is not really working when it comes to lending money. You let them borrow your money because you trust that person, but it turns out that he or she will not pay you. It is really best to see if that person is capable of paying you back the amount of money he will borrow and also to be sure you can both sign two documents that he needs to pay it back (though the issue with this is that if you file a case against the person who is not paying you back, it will cost a lot more money than the amount the person borrowed). But always keep in mind that the borrower really needs to borrow money because he has reasons like they don't have food now, they need to pay tuition, etc., so in this case, I think we should just borrow them the money and just think of it as giving it to them as a help.

BADecker

legendary

Activity: 3906

Merit: 1373

Quote from: Desmong on November 27, 2022, 06:57:42 PM

Lending people money especially the ones you know is a matter of choice abd if they decided not to give us back, that should not make us to change our mind towards other persons which may need our help if we have the resources to help. Several persons had borrowed money from my hands and not given me back and that did not make me to say no others. It is a matter of choice.

Know your borrower. And if he is truly an honest person who has fallen on hard times, lend him the money. In addition, if he can't repay the money, don't demand it back. You will be rewarded by God in Heaven if not sooner.

Cool

Desmong

member

Activity: 812

Merit: 13

Crypto bookmaker and casino

Lending people money especially the ones you know is a matter of choice abd if they decided not to give us back, that should not make us to change our mind towards other persons which may need our help if we have the resources to help. Several persons had borrowed money from my hands and not given me back and that did not make me to say no others. It is a matter of choice.

2stout

hero member

Activity: 2548

Merit: 607

It seems one of the best ways to protect one's own interest when lending money to people would be require collateral above the amount of the loan. Otherwise, you risk running a period, possibly permanently, of being assed out.

BADecker

legendary

Activity: 3906

Merit: 1373

Quote from: Kavelj22 on November 27, 2022, 03:24:13 PM

There is no meaning to the borrowing process if the lender does not achieve interest from it. He may not hesitate to lend a friend a small amount in a time of crisis, but this should not be at his expense, especially if the borrower is unable to pay. When the amount is small, there is no harm even if you fail to pay it. For important amounts, it is better to obtain a mortgage in the form of a commodity or savings equal to or greater than the value of the borrowed amount, while ensuring a reasonable profit rate that takes into account the size of the borrowed amount and the period of borrowing. In this way the process can be achieved without the need for a third party guarantor.

This might be true for many lenders, but not for the US and Euro banking systems. They get paid a HUGE amount without there being any interest. Of course, they get more with compounded interest. How do they get paid? Without the interest being included, these two ways:

1. The first way is that they treat the loan paperwork that the borrower signs, as money. The get money from the borrower when they accept the loan paperwork. It is money. Then they give the borrower his green money.

2. They get paid another full loan amount over the term of the loan, as the borrower repays the loan... because he doesn't know that he already paid it with the loan paperwork.

Banks get paid at least twice on their loans.

Cool

Kavelj22

legendary

Activity: 1778

Merit: 1474

🔃EN>>AR Translator🔃

There is no meaning to the borrowing process if the lender does not achieve interest from it. He may not hesitate to lend a friend a small amount in a time of crisis, but this should not be at his expense, especially if the borrower is unable to pay. When the amount is small, there is no harm even if you fail to pay it. For important amounts, it is better to obtain a mortgage in the form of a commodity or savings equal to or greater than the value of the borrowed amount, while ensuring a reasonable profit rate that takes into account the size of the borrowed amount and the period of borrowing. In this way the process can be achieved without the need for a third party guarantor.

BADecker

legendary

Activity: 3906

Merit: 1373

The safest way, and also the way that the rich people have used when they lend money, is to do these two things:

1. Don't lend the money until the borrower gives you some property, temporarily, that is worth at least 3 times the amount being borrowed. Of course, if he pays you back, be honest and return his property to him. You build your reputation that way.

2. Make sure to get the property appraised by 2 or 3 reputable appraisers, so that you know the true value of the property. When I say 'property', I don't necessarily mean real estate. Property can be anything that you are comfortable with accepting.

Cool

Alisha-k

member

Activity: 840

Merit: 23

The most reliable person can still fail to payback. I stopped lending money a long time ago instead i give a helping hand and it is an amount i know i can comfortably give out without any obligation to payback. Money lending has destroyed so many relationships and i am very careful not to spoil a long time relationship sake of money. So instead of lending i simply help.

Majestic-milf

hero member

Activity: 966

Merit: 620

Heh, I won't blame you if you've got a phobia for lending money these days especially with the current state of the economy ans how peeps have grown to be untrustworthy and unreliable.
For me, I consider your credit history, your kind of employment and some little things like your payment history.

Queentoshi

sr. member

Activity: 854

Merit: 327

Hire Bitcointalk Camp. Manager @ r7promotions.com

The biggest fear with lending money to someone is getting the money back, and no matter how we decide not to give again after someone we have given before refused to pay back you'll find out that there are still some people that you still give regardless of your strong decision to stop lending money. What are biggest factors you consider before giving to these people? For me, I consider if the person is reliable and someone that keeps to their words, the persons financial status to know if they can actually pay back the money especially when it is a big amount, and I consider our relationship.

Topic: lending money to people. - page 3. (Read 591 times)