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❓ASK Do you recommend giving loans?

Reznov

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As my parents own a clothes store, sometimes people have to get clothes and pay you later (only if you know, and if they live in the nearby), but not all of pay back in time or even payback, which is a kind of loss if you calculate it, but sometimes giving loan to people makes you gain clients that keep coming a lot of time, so that's like a 50/50, do you recommend giving loans or not and why ?
 
If you have trust in the person you are giving loan to and if they really needed the money, otherwise it's not really advisable to give loan to those persons whom you hardly trust to payback
 
If you have trust in the person you are giving loan to and if they really needed the money, otherwise it's not really advisable to give loan to those persons whom you hardly trust to payback
That is just the fact but if you know the person that you have access to their business plans and you can always money toilet in a way to be able to know if your money is secure then one can give out loan.
 
The truth if the whole matter is that , right now , people have less cash , and businesses aren't moving very well , so most people are not even sure that what they have will be enough for them .
No one can easily give out loan now
Yeah, right. So many people are going through a financial struggle these days. So it is so hard to give out loans. You will have so much doubt on weather you will be paid back for sure.
 
If you have trust in the person you are giving loan to and if they really needed the money, otherwise it's not really advisable to give loan to those persons whom you hardly trust to payback
There even certain cases where does you trust, thinking they would not fail you are actually the ones to disappoint you.
 
There even certain cases where does you trust, thinking they would not fail you are actually the ones to disappoint you.
Yeah true, knowing the person thoroughly too comes into play here, where if you know that person and you know what his/her personality is you would know if you can really trust or not
 
Yeah true, knowing the person thoroughly too comes into play here, where if you know that person and you know what his/her personality is you would know if you can really trust or not
Like there was a case some time back, I had a friend who give out some money to his cousin, they where extremely close that was why he felt he could trust the cousin. In the end the cousin refused to pay even till now. This was someone he felt he knew.
 
Like there was a case some time back, I had a friend who give out some money to his cousin, they where extremely close that was why he felt he could trust the cousin. In the end the cousin refused to pay even till now. This was someone he felt he knew.
He allowed emotion and trust to override his decisions, it is fundamental that money is a very strong Force and one should not trust wheb you are dealing with money ensure there's always a legal backing especially when you're giving out money to someone in the form of loan.
 
He allowed emotion and trust to override his decisions, it is fundamental that money is a very strong Force and one should not trust wheb you are dealing with money ensure there's always a legal backing especially when you're giving out money to someone in the form of loan.
You have said it all, like they say you can never know a persons true character until they come across money. That's the only time they would show their true colours.
 
This is exactly why I won't give out loans to others. The stress alone in trying to get those in debt to pay back is simply just too much. I don't think I can handle such stress.
Yes if you give loans to others , you will always get affected that the others won't give you your loan back so
This is exactly why I won't give out loans to others. The stress alone in trying to get those in debt to pay back is simply just too much. I don't think I can handle such stress.
if you give loans to others , you will always get affected by bad emotions that the others won't give you your loan back , it is a very bad feeling .
 
Yes if you give loans to others , you will always get affected that the others won't give you your loan back so

if you give loans to others , you will always get affected by bad emotions that the others won't give you your loan back , it is a very bad feeling .
Well said, and in a situation where you have not gotten the money back, you would not have peace of mind as you will be thinking of all the available means to collect your money.
 
Well said, and in a situation where you have not gotten the money back, you would not have peace of mind as you will be thinking of all the available means to collect your money.
Yes and if you have not more evidence you will lose more , best option is not giving loans , if you are forced it is better make a legal agreement with a lawyer .
 
As my parents own a clothes store, sometimes people have to get clothes and pay you later (only if you know, and if they live in the nearby), but not all of pay back in time or even payback, which is a kind of loss if you calculate it, but sometimes giving loan to people makes you gain clients that keep coming a lot of time, so that's like a 50/50, do you recommend giving loans or not and why ?
ok
 
Yes and if you have not more evidence you will lose more , best option is not giving loans , if you are forced it is better make a legal agreement with a lawyer .
True, I have seen cases whereby some persons are not able to get their money back cause the people refused to pay and there was not enough evidence to prove that these persons owes them money.
 
Given loan to people use to b very dangerous because there are some people they don't want to pay back any money they borrowed in fact the Muslims
 
True, I have seen cases whereby some persons are not able to get their money back cause the people refused to pay and there was not enough evidence to prove that these persons owes them money.
Unfortunately , there are some people are rude enough to forget your help for them and instead of paying the debt they lied and took the money .
 
Unfortunately , there are some people are rude enough to forget your help for them and instead of paying the debt they lied and took the money .
My mother once had a similar experience some time back. She just had to drop the case and let go cause she felt it was not worth it damaging her image just cause she wants to take her money back.
 
If you have a lot of money then you can understand that statutory lending is one of the ways that can bring you passive income. You should ensure that you have researched about what the person wants to do with the money to see if it is something that you are agree with.
To be honest, no amount of research on the person can guarantee you getting your money back as anything can happen and no one is predictable. Especially when money is involved.
 
A lot of people get loan to solve their domestic problems not to do business so they find it very difficult to pay back such loans . It is important to investigate before dishing out loan.
 
To be honest, no amount of research on the person can guarantee you getting your money back as anything can happen and no one is predictable. Especially when money is involved.
I like that statement you made, and that's just the painful truth. Money brings out the true nature of a man. That is why there are persons who would be willing to do absolutely anything just to get money.
 

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