Rachael
Verified member
Taking a loan from friends might be best suitable most especially for someone who is using it to sort out some bills like; paying for hospital bills or paying school fees or any other related school activities. Most loans gotten from friends comes without interest rates but this always turn out to inflict the innocent money lender. It is so disheartening that borrowers tend to leverage on the good nature of those friends who loan them money without requesting any interest rate.
I have been in so many situations where I loaned money to friends yet, they refuse to pay, some would have to wait before I remind or pester them and some would bluntly make it look as though it is my responsibility to carter for their needs. In summary, they would feel that I do not have a right to ask for a refund because we are friends but I see such mentality as being shallow. Presently, I only give out what I can afford to loose. I have stopped the habit of lending money because at all times, the repercussions is not always healthy. Bank loans comes with interest and with a very limited time to repay which might not be fair to the receiving end.
I have been in so many situations where I loaned money to friends yet, they refuse to pay, some would have to wait before I remind or pester them and some would bluntly make it look as though it is my responsibility to carter for their needs. In summary, they would feel that I do not have a right to ask for a refund because we are friends but I see such mentality as being shallow. Presently, I only give out what I can afford to loose. I have stopped the habit of lending money because at all times, the repercussions is not always healthy. Bank loans comes with interest and with a very limited time to repay which might not be fair to the receiving end.