VICIOUS CYCLE OF DEBT Artificial idea borrowed from the financial concept and modified it to the simplest manner that it takes only five minutes for the Lender and Borrower to agree to terms and conditions of the deal or transactions. there are no such things as: collateral to be provided as security, only 7 days agreement and term of repayment is one. Interest rate is very high ranging from 30% to 50%. No such thing as binding agreement in place. The Lender bears 100% risks else the Lender can loose all the money. The transaction is purely based on Trust - EM MONI MAKET However it turns out that the Borrower is at all times facing risks and not the Lender. The lender waits outside the office of the Borrower every pay day. When pay is processed and payslips are issued the Borrower comes out and hand over his Save Card to the Lender to withdraw her principal amount plus the 50% interest component. -TAIM BLO BEKIM DINAU MONI NAU When the Save Card is given back to the owner (Borrower) he checks his balance to see that the remaining balance can not cater for the needs and wants for the next remaining 14 days. Also there are other commitments to consider too. So he make up his mind: "Em orait mi go askim mama ya sapos em bai orait lo mi ken kisim dinau gen" SO THE CYCLE BEGINS! Imagine, after 24 solid months one person can operate on this kind of trend only to find out at the end that there is no significant amount of money remaining in his bank account and he still use the same beddings he carries with him out from the school. This is a huge blow out for the person. He is wasting his time. Everytime he went to work and every afternoon hoping on a bus with a newspaper in his hand but imagine what is going around in his head? Simply time waste, all individual efforts invested is in itself a futility effort and so is the life. Sorry no offence here but i am just making up a story..Just Avoid the Cycle now or never... Avinun olgeta
Posted on: Tue, 24 Sep 2013 06:28:02 +0000
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