Words of Wisdom: Lending people MONEY ! Over the last ten years, I have tried my best to help people financially in their situation. Most cases, I have attempted to be wise yet understanding. Trust me, I have said NO many times. However in some cases, I have opened my pocketbook to help people either get ahead or help them catch up. Almost every loan I have given has been a short term no-interest loan. Where the borrower can repay the debt in time to pay nothing other than the loan. Well to date, I have officially been let down over 70% of the loans in which I have provided with signed contracts. So here is my wisdom. Dont Dont Dont Dont lend money to friends or family. In my biggest loan (which embarrassingly added up to quite a bit money), my so called friend of 27 years filed bankruptcy on me. When I approached him about it, he said his lawyer advised him to do it. He also promised me in emails and over the phone that he will pay every penny of the loan back to me. To date, he has only paid 2% of the loan and he wont even respond to any of my messages. He borrowed the money over 3 years ago. I have other small loans where individuals just either tell me to sue them or I will have to wait on their personal timing to pay on the loan, obviously not the deadlines we set up in the contracts. I still love all of these individuals. I am not mad. The situation makes me sad. In the last loan I gave a young lady who was going to have to sell all of her personal belongings at cheap prices in order to pay a $300 rent bill. I told her that I will lend her the money if she promises without fail to repay me in six months. I told her, I am losing trust in people and I want her to prove that I can still depend on people. She looked me in the eyes and promised me she will not let me down. 18 months later, she hasnt paid a dime. She promises to pay, yet she has no urgency to do so. She has since de-friended me and wont respond to any of my messages. Please learn from my situation. Being Wise is being smart. While not attempting to solve other peoples poor choices. God Bless
Posted on: Sat, 03 Jan 2015 06:01:31 +0000
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