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  • Category: Miscellaneous

    Bad debt is a common problem

    In old days people would would feel shame in taking debt from the other people but due to their problems or circumstances they had to do so. They were sincere to return the debt on time also and if they were not able to pay debt back to money lender or debt giver, they would feel humiliated. They would change the road if they saw the debt-giver on the way or if he would come at their door to ask for his money they were embarrassed.
    But now time has changed. A borrower don't feel shame at all. One who helps someone with debt can be seen running after a borrower for his money and the borrower throws his false promise to pay money soon.
    It is the normal thing now a days. I have seen some people who never lend money to any needy person. If anybody wants debt whether he is their friend or relative or acquainted person they quite clearly refuse to pay. I know some of my own relatives have this tendency, although they are rich.
    If I give debt to somebody I give this amount with this intention that this money will not be returned to me.If he returns this debt amount back it gives satisfaction and happiness to me that I have got my money back , if he does not return my given money then I don't feel worried as I did not have hope to see my money back.
    However, I think we should help needy people if we are in this position to help him.
  • #721535
    I agree with the author's observation that some people are habitual of taking loan from others and then simply forget about it. This is really in bad taste. As a consequence of it nowadays many people are not giving loan to even the needy people. Another aspect is when a friend or relative takes a loan then generally they do not pay interest on it so that is also a point that even if they return the principle, they are benefited by the interest amount. What to talk about those who do not return even the principle amount. That is the height of cheating and dishonesty. They are cheating people just like some chit-funds and financial companies are cheating many of us. They take money from us and show us good returns only to grab it and disappear from the scene after some time and then again make a new company for cheating the gullible people.
    Knowledge is power.

  • #721550
    True. I know people during my childhood who used come home and pay the money what they have to pay for us. If there is any problem they used to inform in advance and try to adjust the amount as early as possible.
    But these days it is all different. There is no surety that I will get back the money what I have given as a debit to somebody. If they are small amounts we can accommodate. But higher amounts if not returned it is difficult. So we should think about what will be the amount we can afford to lose. That much only can be given to others as a debt.
    These days we hear many cases where people took loans and not repaid. Those people never feel bad also for not returning the money. Moreover, some people come with a fresh request for help. They may not feel shame for asking again and gains without repaying the old dues. Of course, their situation may be like that and we can help them if we have the capacity,

    always confident

  • #721561
    The author has rightly said, once upon a time, there are people who after taking a loan, would not live comfortably until they returned the loan, but nowadays there are some evil people who take good advantage of good people and after taking loan they do not return it easily. The lender repeatedly asks for his money back and sometimes the situation becomes such that the lender expects only the capital back and leaves the interest. But due to such situations, even before giving loans to good and honest people many times people think or refuse them. There is a saying that someone does something and someone else is suffering, the same situation happens in such circumstances.
    Swati Sharma

    Keep your Face to the SunShine

  • #721581
    Gone are the days when the borrower would keep the word and the amount thus given as credit to return to the giver and the word of promise is always kept But these days the total misuse of promissory note or the agreement which is never followed and even not challenged in the court. As the d day nears the elders of those days used to fear guilty and they would try to beg or borrow and give the amount to the giver. And those who stand s as the guarantor for a borrower need to be careful as the creditor would catch hold of the borrower first and even seize the articles and properties to compensate the amount due. Some of my relatives who stood as the guarantor for a chit fund company has to shell down four lakhs and thus he learned the lesson of his life that never should be guarantor for any one.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

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