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SOFT LOAN REPAYMENT BY FRIENDS
mwenza
#1 Posted : Wednesday, June 10, 2009 8:34:00 AM
Rank: Elder


Joined: 4/22/2009
Posts: 2,863
Hi SKerians,

Have been lending money to a good number of my close friends but when the time 2 repay comes,they give me all sorts of xcuses. Ultimately they default in repayment. Have always wondered at what point do they decide they wont pay,b4 or after they land the cash? What do i tell friends when they request for a soft loan since the repayment trend is so consistent? Do other Skerians have similar xperiences?





NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES YOU AT A DISADVANTAGE!!!
IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
Gordon Gekko
#2 Posted : Wednesday, June 10, 2009 8:55:00 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
Please can I be your friend?
se7en
#3 Posted : Wednesday, June 10, 2009 9:02:00 AM
Rank: Member


Joined: 11/27/2006
Posts: 108
lol @ GG... Mwenza... huat?!? how many 'bittens' make you shy??

if you can not be kind,at least have the decency to be vague
speak softly and carry a big stick, you will go far... Theodore Roosevelt
mwenza
#4 Posted : Wednesday, June 10, 2009 9:38:00 AM
Rank: Elder


Joined: 4/22/2009
Posts: 2,863
@ GG... u r welcome so long as u dont become a borrower

@ 7.....Problem is the borrowers r not mutual friends and dont even know each other


NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES YOU AT A DISADVANTAGE!!!
IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
the sage
#5 Posted : Wednesday, June 10, 2009 9:46:00 AM
Rank: Member


Joined: 11/20/2008
Posts: 367
Nice one GG. Anyway,I had the same problem but I became assertive. Next time just say you do not have cash,if they say they don't believe you,tell them to go and self fornicate.

If you've lost cash look at it in the positive way,losing a K today is better than 1m tomorrow.
The General
#6 Posted : Wednesday, June 10, 2009 10:39:00 AM
Rank: Member


Joined: 6/3/2006
Posts: 553
@ sage,ROTFLMAO...

@ mwenza:

It is unanimously and without qualification assumed that when anyone gets into debt,the fault is entirely and always that of the lender and not the borrower. - Bernard Levin

The thicker the thigh the sweeter the pie.
The thicker the thigh the sweeter the pie.
adept
#7 Posted : Wednesday, June 10, 2009 11:56:00 AM
Rank: Member


Joined: 12/8/2008
Posts: 359
Lending to friends is an absolute no no. There are many shylocks around that they can comfortably go to.

Learnt the hard way when I lent some kidogo cash (5k) to a campus pal just after landing my first job. Guy was my class mate and I thought 'hey,we are buddies right?'

Kept reminding the dude lakini wapi. What was interesting,the guy bought a car (on a sacco loan) quickly yet our pay was more or less the same. All the while excuses why he cannot refund the cash. And there I was still matatuing. It was during the pre-michuki days when we would be packed like sardines and the matatus always had drama of a chic complaining that a certain dude is not acting like a gentleman if you know what I mean.

To cut a long story short,I eventually gave up.


Bottomline - Nobody should ride on your sacrifices to fund their luxuries.

Tuma hao kwa shylock. Interesting thing is that most times they have items (e.g. household goods) they can sell or submit to a potential lender as collateral. It is all an effort to postpone a difficult decision.
Njunge
#8 Posted : Wednesday, June 10, 2009 11:56:00 AM
Rank: Elder


Joined: 2/7/2007
Posts: 11,935
Location: Nairobi
@Mwenza,

Maybe the borrowers are Skerians and they have read your motto:





NEVER HONOUR A PROMISE THAT PLACES YOU AT A DISADVANTAGE!!!










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@General,

Has your phone run out of alphabets?.....Hii ROTFLMAO ndio nini?.Can i have it too na isiwekwe pilipili.....!


Yombo dhier....!!
Nothing great was ever achieved without enthusiasm.
mwenza
#9 Posted : Wednesday, June 10, 2009 12:38:00 PM
Rank: Elder


Joined: 4/22/2009
Posts: 2,863
@ adept..thanx alot,esp that bit on me funding their luxuries as i sacrifice is surely spot on

@njung'e ..haki wewe,hehehehehe you are so hilarious..on my motto,i just lifted it from machiavelli's book THE PRINCE,didnt know it could be used against me


NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES YOU AT A DISADVANTAGE!!!
IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
mtaalam
#10 Posted : Wednesday, June 10, 2009 2:35:00 PM
Rank: Member


Joined: 11/2/2006
Posts: 519
The best way to lose friends is by lending them money.
Either refer them to where they can get or tell them that you don't have or if it's one of those bad debtor friends you can't say no to then give them a small % of the amount they want knowing it won't come back eg 1k for 10k and the good part is since they can't pay you back they also can't come for more in future.

The best time to plant a tree is twenty years ago. The second best time is now.
iMANI
#11 Posted : Wednesday, June 10, 2009 2:38:00 PM
Rank: Member


Joined: 2/20/2008
Posts: 84
@ Guka

didn't know you were that old.
'ati na isiwekwe pilipili' ROTFLMAO

oops,used it again.

by the way that means Rolling On The Floor Laughing My Ass Off

It's amazing what you can achieve if you don't care who gets the credit.
Life and beer are very similar........chill for best results.


Kwanini
#12 Posted : Wednesday, June 10, 2009 2:56:00 PM
Rank: Member


Joined: 1/28/2009
Posts: 353
Location: Cloud
everyone has probleme with funds. we are all fine if we expense within the means,allowing for a few jolts from the big man in the skies. an old 'green man' [rest in peace] once taught me,quoting shakespeare.... son,never be a lender nor a borrower,for often tha loan will get lost and worse,you lose a good friend.' Just be kind and generous as you walk the path of the Lord's blessings.


Kwa hivyo,ukilia nipe siliiingi..... nakusaiz and give you for keeps a fraction of what you borrowing. and the matter ends there. saves you a lot of trouble. For chronic relas and good friends i always give a neatly typed A4 list of my financiers a.k.a shylocks,a.k.a red eyed bankers. Its life... nothing personal.

For i am the master and the captain of my fate !
"For i am the master and the captain of my fate"
McReggae
#13 Posted : Wednesday, June 10, 2009 3:04:00 PM
Rank: Elder


Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
Kwanini,si u sambaza this list of shylocks....that's a beautiful way od ealing with such fellows!!!

The chief value of money lies in the fact that one lives in a world in which it is overestimated.
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
Chaka
#14 Posted : Wednesday, June 10, 2009 3:10:00 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
eli
#15 Posted : Thursday, June 11, 2009 3:54:00 AM
Rank: Member


Joined: 6/17/2008
Posts: 294
Mwenza,as your friend designate,can u please borrow me like 100K!

But you shall remember the LORD your God,for it is He who is giving you power to make wealth,that He may confirm His covenant which He swore to your fathers,as it is this day. Deu 8:18
254.co.ke
#16 Posted : Thursday, June 11, 2009 4:57:00 AM
Rank: Member


Joined: 11/17/2006
Posts: 143
Friends especially those who you schooled with and those who hails from your place are the worst defaulters! I had a nasty xperience with 2 such pals,but the good thing is if u give them a % or u write off the loan,ths guys wont come askn 4 more even when their financial boat is abt 2 capsize. Nowadays im @ peace,afterall 'muiganania bank' is ready for such folks! The easiest way to make a new enemy is takin that route-clench ua fist and if possible tumia superglue
tuvok
#17 Posted : Thursday, June 11, 2009 7:03:00 AM
Rank: Member


Joined: 5/2/2007
Posts: 536
What I've started doing is ...

making sure I have no money to lend.

I just ensure that I only have enough cash for expenses for maybe 3 months - basically a limited amount in the bank. The rest is in investments (a mix: fixed deposit,debt instruments,SACCO,shares and land). That way kukiwa ngumu sana I can visit the SACCO or the fixed deposit. But I'll have at most maybe a kaloose 1K to give out incase such a friend comes along,and in addition I won't be tempted to go buying things I don't really need.
mozenrat
#18 Posted : Thursday, June 11, 2009 7:45:00 AM
Rank: Veteran


Joined: 5/18/2008
Posts: 796
Actually Mwenza,u are not alone... I've been struggling with this particular problem for the longest time... I work in an environment of contracts with strict deadlines for payment and penalty clauses for late payments... but I keep lending to 'friends and relatives' who carry out business in a different manner... so they'll tell me... 'There's this guy who was supposed to pay me today but hasn't...'. As if its my problem!!! Anyway,I'm learning for SKerians,kwanza that one of ensuring I never have extra cash on me,I think would work wonderfully...
Fundaah
#19 Posted : Thursday, June 11, 2009 7:56:00 AM
Rank: Elder


Joined: 11/19/2008
Posts: 1,267
Its a good discussion... I have learnt something...

Rules of the game here:

Before you post anything think.give facts only..It's a serious blog for serious people....Do not insult your brother....respect one another...Just be good

Isaiah 65:17-Look! I am creating new heavens and a new earth, and no one will even think about the old ones anymore
mwenza
#20 Posted : Thursday, June 11, 2009 8:04:00 AM
Rank: Elder


Joined: 4/22/2009
Posts: 2,863
@ Fundaah...Thats true,am also very wise now.

@Eli...i know we are both Man-U 4 life,so If u borrow from me 100k i wil give u 1k.

@ all Skerians ladies you are so quiet,kwani dont ladies ever borrow/lend money from you? Tell us something my dear Wendz,Sasha,Leona,Lyanne,Pretty,carygoh......



NIKIPATA NALA-NIKIKOSA NALALA.....NEVER HONOUR A PROMISE THAT PLACES YOU AT A DISADVANTAGE!!!
IF YOU EXPECT ME TO POST ANYTHING POSITIVE ABOUT ASENO, YOU MAY AS WELL SIT ON A PIN
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