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Thread: Will you lend money?

  1. #41
    Senior Member
    Join Date
    Nov 2004
    BB West

    Default Re: Will you lend money?

    Just got an sms n from my colleague. Asking for $ as he know I got a N95 (8GB). I ignore him as he got $8k from helping some one which mean he is more rich than me. This type of ppl, better ignore than entertain them. One more thing, he never keeps his promise on return date, why should I bothers in the first place?
    Only Sony device mostly, haha!

  2. #42
    Senior Member
    Join Date
    Feb 2005

    Default Re: Will you lend money?

    I think this happens.
    Somewhere along the line, a person is driven by ego or greed or desperation to keep up with the Joneses. He wants a certain lifestyle but due to limited income, he turns to borrowing.
    Falteringly at first, but then he soon learns something. It is a learning curve. He learns the following:

    1. It is very easy to borrow money from close friends and family. They seldom turn him down.
    2. There is no need to pay back because the lenders feel embarrassed to chase him for payment.
    3. He can borrow from a LARGE number of people meaning he gets a HUGE sum of money in a short space of time.
    4. When borrowing from the lender, he always makes it seem that it is shy of him to borrow and he approaches the lender in a way that implies he wants the loan to be kept a SECRET.
    5. This is because he does not want A to know that he has also already borrowed huge sums from B, C, D, E, F, G, H, I, J, K, L, M, N, O, P,etc.... Otherwise his plan may fail when they realise he has already borrowed a sum that is more than their 3 years' salary.
    6. He has absolutely NO intention to pay back.
    7. Borrowing money from family and friends is much easier than working for it.
    8. After a while, he learns to always ask to borrow an unreasonably huge sum, regardless of whether the lender actually has the ability to lend so much. Say he has in mind to borrow $10,000. He will ask the lender for $50,000.
    9. When he hears that the cat is out of the bag and it is not a secret anymore, the borrower learns to play the emotions of lender A against lender B, C or D. He goes to A to ask for $20,000 and says B has already agreed to lend him $50,000. Usually A, B ,C and D are family members.

    The above reasons are why loan sharks and bank lawyers are so fierce in getting borrowers to pay back their loans. Of course usury by loan sharks ( extreme interest rates e.g. 100% compounding) is illegal and unethical. Then again, 24% interest rates of credit card bills is not small either.

    But in some countries where the lender is a government indirectly linked bank and lending is politically motivated and along racial lines, then there is an implicit understanding that borrowers need not pay back the full sum (or at least take their time doing so) for housing loans, car loans (good chance if buying a certain brand) and especially business loans. Don't have to look very far from Sing to observe this.
    Last edited by ricohflex; 20th January 2008 at 10:23 AM.

  3. #43
    Join Date
    Apr 2007

    Default Re: Will you lend money?

    i've lent, i've lost sight of the friend since then.
    i've lent, i've gotten it back before.

    so it really reall depends on the person who's borrowing from you actually.
    just keep this in mind though, if they have the $$, they wouldn't borrow.

    if they don't have the $$, what are they going to return you with?

    it all depends on your faith on that person.

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