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  • Category: Miscellaneous

    How to deal with people who inspite of having good financial condition come to us for loans?

    It may look very normal if a needy or poor person asks a loan from a well to do person and some persons in such situation may help the needy one while others may refuse.

    What I want to emphasize through this thread is that there are some people who are financially in good condition but come to us for loans probably hoping that they will get our money for their immediate need while their money in bank or elsewhere invested remains intact.

    This is really a very unacceptable proposition but how to refuse them specially when they are close to us as relatives or friends.

    What is the opinion of members on this?
  • #594410
    When the others behave smart, we also should behave smart.Generally people don't go for loans when they have the sufficient money. Many people go for loans for house construction, performing marriage or children education etc.,. They go for banks for loans. .

    As you said, some people keep their money in Fds and they don't want to disturb for small amounts. In such case they will ask for loans. If they are very close and we want help we may give. Otherwise we have to tell them that the money is in bank if we disturb that the loss is this much and ask them to compensate. They will never come again to you for loan.

    always confident

  • #594416
    Yes I agree with the author that there are some shrewd persons around us who test our attitude whether we are reaching out to them and helping them. Not that they are not having money, they want to test our attitude and thus if we oblige, we are in their good books, otherwise they will discard us. Some people rotate their money for heavy interest and by borrowing from us, they actually thrive in their business earning hefty interest. Not knowing this , we simply help keeping aside our requirement and ego. Such people should not be obliged even when they beg as if something has happened.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #594520
    Simply say that all you have is term deposits, and very limited balance is available in bank to meet urgent requirements. If it is very essential to help them, you may tell them that you would use your credit card to get the sum as loan from the bank through the ATM, and they should pay the interest charged by the bank, and the sum should be returned in time to avoid penalities. I am sure, they won't like it as they may need to pay heavy interest.

    However, study and understand them well before extending a helping hand.


    No life without Sun

  • #594555
    I have learned one thing from experience. If you are showing yourself as too generous and rich, people will flock to you for money. So your behavior needs some tweaking. Stop being generous around people who love to take money from others. And you should also put on cap on giving money to others. You may need to be assertive in such scenario. And be politely say no to others when it comes to giving money. That is what can be done in this situation.

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