What is your experience with giving loans

[Carpon]

Giving loans comes in different ways. There are organisations that give out loans and we also have individual entities who also give out loans. Even as an earner, you also can give out loans and in one way or the other, you might have at one time given someone some amount as loan regardless of how small the amount may be.

So I want to know your experiences giving out loan from what you felt when you were supposed to give out the loan and how you felt after giving the loan and the feeling after getting your money back. Moreso what were the things you faced when it was pay back time. Did you have to follow after the money or it was paid duly.

Personally, I have at many times given out loan and at the moment when I was giving it out, it usually will not be really pleasing especially if there is no interest that will be paid on it.
And when it is pay back time, I usually have to struggle before I get my money back.
I hate giving loans.

 

[Heartstrings]

Given out loan may be challenging sometimes,in the sense that the person who gave loan to might end up frustrating the hell out of you before you get your money back. Well personally,I don't take loan,why because I hate that interest they do add to it,and if I give out loan,I don't take interest. Give me back the exact money I loaned out to you, simple as that,well that's just me.

Some years back I remember giving some a loan,this person promised to pay back after 2 months,and there's nothing like interest, because as I said earlier,I don't take interest neither do I pay for interest. This person gave me back the money before the agreed time and I was really pleased with it. One thing I fear most about given out loan if at all I have the money is how some people behave after given them the money,some either start avoiding you or refuse to pay back. I have heard and seen such cases.

 

[cmoneyspinner]

I have no experience giving loans. But in the USA, it's easy to do. There are lots of private lenders. Many lenders sell their notes to others. So you could give out a loan. Then turn around and sell that loan for a lump sum payment. In other words, get your money back now and let somebody else deal with receiving regular payments. Financial institutions do that a lot. Why not individual lenders?