Bitcoin Forum

The biggest fear with lending money to someone is getting the money back, and no matter how we decide not to give again after someone we have given before refused to pay back you'll find out that there are still some people that you still give regardless of your strong decision to stop lending money. What are biggest factors you consider before giving to these people? For me, I consider if the person is reliable and someone that keeps to their words, the persons financial status to know if they can actually pay back the money especially when it is a big amount, and I consider our relationship.

 Heh, I won't blame you if you've got a phobia for lending money these days especially with the current state of the economy ans how peeps have grown to be untrustworthy and unreliable.
 For me, I consider your credit history, your kind of employment and some little things like your payment history.

 

The most reliable person can still fail to payback. I stopped lending money a long time ago instead i give a helping hand and it is an amount i know i can comfortably give out without any obligation to payback. Money lending has destroyed so many relationships and i am very careful not to spoil a long time relationship sake of money. So instead of lending i simply help.

The safest way, and also the way that the rich people have used when they lend money, is to do these two things:

1. Don't lend the money until the borrower gives you some property, temporarily, that is worth at least 3 times the amount being borrowed. Of course, if he pays you back, be honest and return his property to him. You build your reputation that way.

2. Make sure to get the property appraised by 2 or 3 reputable appraisers, so that you know the true value of the property. When I say 'property', I don't necessarily mean real estate. Property can be anything that you are comfortable with accepting.

8)

There is no meaning to the borrowing process if the lender does not achieve interest from it. He may not hesitate to lend a friend a small amount in a time of crisis, but this should not be at his expense, especially if the borrower is unable to pay. When the amount is small, there is no harm even if you fail to pay it. For important amounts, it is better to obtain a mortgage in the form of a commodity or savings equal to or greater than the value of the borrowed amount, while ensuring a reasonable profit rate that takes into account the size of the borrowed amount and the period of borrowing. In this way the process can be achieved without the need for a third party guarantor.

This might be true for many lenders, but not for the US and Euro banking systems. They get paid a HUGE amount without there being any interest. Of course, they get more with compounded interest. How do they get paid? Without the interest being included, these two ways:

1. The first way is that they treat the loan paperwork that the borrower signs, as money. The get money from the borrower when they accept the loan paperwork. It is money. Then they give the borrower his green money.

2. They get paid another full loan amount over the term of the loan, as the borrower repays the loan... because he doesn't know that he already paid it with the loan paperwork.

Banks get paid at least twice on their loans.

8)

It seems one of the best ways to protect one's own interest when lending money to people would be require collateral above the amount of the loan.  Otherwise, you risk running a period, possibly permanently, of being assed out.

Lending people money especially the ones you know is a matter of choice abd if they decided not to give us back, that should not make us to change our mind towards other persons which may need our help if we have the resources to help. Several persons had borrowed money from my hands and not given me back and that did not make me to say no others. It is a matter of choice.

Know your borrower. And if he is truly an honest person who has fallen on hard times, lend him the money. In addition, if he can't repay the money, don't demand it back. You will be rewarded by God in Heaven if not sooner.

8)

Trust is not really working when it comes to lending money. You let them borrow your money because you trust that person, but it turns out that he or she will not pay you. It is really best to see if that person is capable of paying you back the amount of money he will borrow and also to be sure you can both sign two documents that he needs to pay it back (though the issue with this is that if you file a case against the person who is not paying you back, it will cost a lot more money than the amount the person borrowed). But always keep in mind that the borrower really needs to borrow money because he has reasons like they don't have food now, they need to pay tuition, etc., so in this case, I think we should just borrow them the money and just think of it as giving it to them as a help.

So you're discuss about a friend want to get a loan from you right? let's say your friend ask you $500 and he promise he will pay back in full amount to you in the next month, what will you do? considering he's your best friend and have been pay you back about your previous loan. If your answer you will give $500 for him since you're trust him, you're make a wrong decision.

If I were you, I will only give $100-$250 and I don't mind if my money gone, since I think those money is just a donation for him and I wouldn't give him full amount in order to prevent he can't pay back his money.

I only lend them what they can afford to pay because lending them too much will be the same reason for you to stop talking to them and they will gonna hide from you. This is based on my personal experience and we lend without putting interest because it is forbidden for us but still, only a few people are considering to mind paying it back because others think it won't be necessary to pay because you are getting money from your job. I only lend to my friends but not all of them are trustworthy because most of them didn't pay back the money I lend to them. years and months have passed already.

I being someone who has learnt alot of lessons from lending people money have seen enough experience through this kind of act whereby i have only concluded with giving out money for free to people in need with the same amount i can afford as a gift than lending them the amount I cannot afford to loose, becau once they got the money from you, they turn to be the boss and you begin to chase them around for refundment which you later tuen to be the the bar person to them for your demand on refundment, they sees you as their enemy and turn back at you, what i don't know is maybe they easily forget the time they use to beg to lend the money or maybe they expect you to forget the money and live goes on, because I've been in the shoe of a creditor to many who have defaulted and i turned their enemy.

lending money to people in need is a noble act. he had rescued her from misery. but if the money lent has not returned, then frankly I don't know how to handle it. there are so many people like this, not because they don't want to give it back. maybe that person is being hit by something that makes him unable to pay quickly, this is understandable. but it's different from someone who already has a lot of money and he doesn't remember that he has a debt to us, or he deliberately doesn't pay it, this is really very bad. sometimes when we charge him in a good way, he avoids it. and somehow a feeling arises that says I don't want to give him a loan anymore.

if we have money owed to other people, and we have a lot of money. then we must first pay the debt. except for people whose condition is still very concerning.

I like to lend to my closest friends. Because most of the time i have lent to some distant acquaintances i've never hear about that money again.
 
But i was wondering if i should lend bitcoin to trusted people in this forum. Only probalem these days is compex taxation and just moving money to other wallets and back could get me in trouble if i couldn't remember that what i have loaned and to whom. So i would have to keep a journal of my transactions for several years after i've lended, which seems like a lot of effort for helping someone. I sometimes wish that we got back to simpler times when no one cared how much bitcoin i had.

You cannot easily get the money you borrowed someone, because i believe that borrowing someone money is not easy and that should be the last mistake you can make when you know that you are not strong enough you should not go into such kind of business with empty hands because leading of money do cause a lot of problem.

I have not lent money many times before.
The few times I have, it has been to people I personally know, I also keep in mind the fact whether they have a job and whether I have lent them money before.

In the case of online lending here on the forum, I would go as far as only concede a loan if there is collateral and a signed message, otherwise I would not feel comfortable managing several loans at the same time.

Lending money to someone can cause a lot of problems if the person fails to pay it back. I have had so many issues where people fail to pay me back the funds a lent to them. Currently, I only lend money to people I trust. Others would have to. prove to me that they are reliable before I can give them the money they want. If I don't trust the person, I would only lend the amount of money I can comfortably forgo. Lending a huge amount of money to someone that is not trustworthy would require collateral. And if the person has no collateral I would give the person a little amount that I can forget if the person fails to pay back. In don't consider relationships while giving a loan, but I rely on intregity and.past experience.

Leading money to people is good and it not good
Why i said so because
Lending money to friends and family can lead to financial problem for you and potential cause relationship damage
Creating boundaries for loan to friends and family can help preserve relationship
And minimize the potential for problem
Lending money to friends can ruin your relationship with the person if he or she refused to pay

No good deed goes unpunished they say which means every good deed comes with a sacrifice no matter how it was but in the aspect of lending people money I come to realize that the best way to not be a victim of people that lend money and never pay back is lending them the money you can easily overlook because in this present economic situation I have seen a lot of good people who are finding difficult to repay the money they borrow and you as the lender may need your fund for an important purpose.

I don't like lending people money because to give is easy,but to pay back is a problem, so instead I don't lend money out to avoid misunderstanding when its time to get it back. If it happens that I must lend money out there must be a collateral in replace so that when you can't pay back at the expected time,the property turns out to be mine.

If you don't like the offer the you can leave since this is the only way I can retrieve the money back and let you know that I am mean. I have borrowed money to a close relation that ended up fighting me because I keep asking of the money that i lend him after the time he promised paying back has elapsed,can you imagine this,it seems crazy to me.

indeed when we lend money but are not paid back, it is very troubling. I think if the amount of money is small it doesn't matter, but if it's big money it still has to be returned.

reminding people to pay is very difficult, they always shy away and say next time they will be paid. but in reality the money never came back.

what I really hate when lending money to friends or other people who are unemployed without a job is when I ask to return the money he borrowed as if I were begging for my own money. very sad


but after several incidents like that I will only lend my money to friends or other people who have a steady job. so I don't have to be afraid anymore to lose my money. because if that person has a steady job, he can return my money with his wages.



and actually lending money to friends yourself is not good. because there is a group of good friends destroyed just because they borrow money and not return it

It really depends on your friends. Lending money to your true friends (the ones you can truly rely on when you need help) is not a lend to me; it is help for them. I do have friends that really help me in my downfall, so every time they need money (they don't abuse me in lending money), I will always give it to them as long as I have an extra and just tell them, "Pay me once you have an extra." But I always think that they will not pay it, but later on, after a few months, they will that is really the true friends.

Sorry, but I don't understand what you mean by worksheets. As far as I know, all banks around the world issue banking products in the form of loans they provide to their customers in exchange for interest rates commensurate with the size of the loan and its repayment period.
Perhaps you mean the fees charged by the bank for processing the loan application file. These are also calculated with the interest of the loan and are deducted from each share of the customer's monthly contribution during the loan redemption period.

There are financial systems that allow banks to sell these loans to other banks or even speculate on them. Remember, of course, what happened with the mortgage crisis in the United States in 2008.

yes, there is nothing wrong with lending money to true friends when they have a good contribution in our lives. I mean when you lend to your best friend and he is unable to return your money, but when you need any help he is willing to help you any time and any time. so it's like there is a return of kindness between you and your best friend.


but this is just my knowledge, actually best friends don't exist. because a true friend or best friend will be there when we have lots of money in our pockets. but when our money runs out they will surely leave your life soon.
I say this because it has often happened to me.

So basically lending money to the right people, namely having a steady job, that's what's best for me.

Aside from our personal relationship, I always think about a person's source of income before lending them money to determine whether they will be able to repay it on time. Even so, there are some people who are very close to you whom you cannot refuse your money and who will not pay back because they do not have, while others who do have but wickedness will not allow them to pay back simply because they know you cannot challenge them to pay back because of the relationship between us.

One of my biggest life lesson is never lend money to people especially to the person you know because its can ruin the relationship mostly they can't be able to pay back from my experience so at the end its a complete loss for me and I don't really want to force then to pay cause I understand their situation and decided to accept my failure.

If people who really have the ability to pay back can actually get the loan from banks so if someone is can't able to get loan then they seek for someone to lend money from their Circle and even if they're not having any evil thoughts at the time, when we seek for pay back then we can see their real face.

Sorry, but I don't understand what you mean by 'worksheets'. I can't find where I used that word.

However, to see the logic of the value of a signed promissory note, look here https://bitcointalk.org/index.php?topic=5414658.msg61372220#msg61372220. The point is, if you give the promissory note in your loan value by signing it, and then give the note to the banker, you have prepaid your loan... value of your note for the value of the money he gives to you.

It's that simple. So why do you pay the loan off over the next 10 to 30 years (or whatever) since you already prepaid it with the promissory note?

But it is difficult to fight it in court if you don't understand what is going on.

8)

I've lent to a lot of people and sadly, the majority of them didn't keep the words that they told me when they were asking me for money. Well, that's fine. I believe in karma and good things will come to me but with what they've done to me, the bad karma goes on them. Considering that someone is really in need of money, I'll only help if it's totally urgent and the situation is too hard to deal with. But at the same time, I've decided not to lend anymore, taking back and asking people to pay their borrowed money is a headache. And it's like if somebody asks me to borrow money like $100, I'll just give him $10 if I've got an extra but I won't let him get the whole amount so no attached feelings on it.

Most times lending money to people who you are in a good relationship with makes no sense because the money usually ends the relationship you have with them. I prefer lending money to strangers because they will be scared not to go against the agreement we had before giving them the money but to friends or people I have good relationships with, I rather dash them an amount of money than lending them because they may not pay back even when they have the money because they feel as someone in good relationship with them, you will have patience till when they make up their mind to pay back. I have tried lending money to so many of my friend but at the end we turn to enemies and I don't get my money back.

I don't really like lending money to other people, and vice versa I don't really like borrowing money from other people. we learn from experience because if for example we lend money to other people it is difficult to pay because there is no money to pay even though the time is up. no matter how we minimize it, don't lend money to other people too much because our money won't come back the same as what we borrow, over time the value of the money will weaken or decrease

You got it. It is often a problem getting the loaned money back. People tend to change once the needed money has been given to them and their problem solved. They forget there can be another incidence that can make them ask for another loan, even if not from you but from someone else. Words go round. If someone is bad at repaying loans people or friends can spread the news around and others will begin to avoid loaning him or her money. This is what most people do not understand and consider when they want to be stubborn not returning loans. If someone defaults with me, I will not want to loan the person next time. I have also borrowed money from people but I made sure I returned it, even if not at the promised date I made sure I kept in communication with the person and kept assuring them I did not forget the money. Most people just cut you off once they collect the loan so you will not be able to reach them when you want to. That is very bad.

I don't think there is any factor to consider especially when it comes to humans, because the number one feature of every man is CHANGE. So even the most decorated persons you feel won't fail to repay might actually fail when its payback time,  the funny thing about borrowing is that its very easy to convince the borrower on collecting the money but the time to payback becomes a serious issue.

For me I stop lending money to people just like that without you dropping something tangible as collateral in case their is some after story to be told when its time to pay back. With this collateral i will be very sure you will turn up when its time to pay up.

Lending money out isn't the problem but receiving it back has been the most difficult hacullian task to do by many debtors, instill don't know what is behind this misery, people will fome begging with tears to borrow money from you and turn the lender over time, i think if we all learn to assist and help each other in need then there may not be enough reasons to have people lending money on a consistent scale since mosst of their needs are meant through individuals help rendered.

When someone borrows money from you for the first time and doesn't repay it as agreed, it indicates that you won't be able to lend him money again in the future because he broke his promise to pay it back.

Lending money to people can cause friends to be enemies when they are asked to pay back.

The best way I chose to lend money to someone is to have them sign a contract with me stating that if they don't repay me on the specified date, they will lose one of their properties (depending on the amount I lend out)

There is saying that says "only lend to people what you can afford to forfeit". This is because even those you believe are reliable might still fail to pay back as a result of one reason or the other. The debtor might lose his job, face a serious financial problem resulting from a failed business and so many other reasons. Always consider the above mentioned reasons when lending money to someone.

Despite not receiving back money lend to people,  that won't stop us from giving, just that when we give and people fail to fulfil their promise of returning back the money it tells how much about them, how to be careful incase of next time. I lend money to people based on trust, but if I think someone is reliable to pay back , even if it is the last money with me so far as I believe the person am lending will pay back i will always give.  People must learn to keep to their words,  expecially when dealing with money for the sake of trust.

Like we borrow money from the bank, everything must comply with the procedure. after that, the money will be lowered if we have fulfilled the conditions. in our lives, it is not uncommon for a friend, family, co-worker to ask for help to be given a loan. or vice versa, we need a loan from colleagues, friends or relatives.

To be honest, I rarely lend money to a friend or relative. I'm not used to lending money to anyone, unless it's something urgent. if you borrow the first money, then there will be a second and so on and then they just go away. as you said, if someone meets your requirements, then you will give him a loan. I won't, but at least i will help her with something else. I can give money at will, or help to find him additional work to earn money. everyone needs money, money will never be separated from our lives. but if you give out a loan and hope to return it on time. then you have to be prepared with arrears of time, or regret because the money never comes back to you.

No is not good for someone to borrow money and use it for gambl, because if the game cut and he or she does not have money to pay back to the person that he or she borrowed the money from that can lead to fight or destroying of life and property that can also led he or she to jail

8 don't lend money to people when I know that it is going to affect later when I need the money. Some persons are good when we lend them money and will be ready to return the money but there are some bad persons that will be praying for you to forget the money so that they can eat the money. We need to see before we lend out money or we will have to regret our mistakes which might cost us huge loses.

I am not a fan of lending money to people.  Sometimes someone tells me they will give the money back to me in one week but it will take much longer and this can mess up my plans.
I do not like lending my money out especially if I rely on this money for things like food and other bills.  It just becomes upsetting and I grow impatient if people are late so I don't lend money.  Sometimes to my family but even that sometimes can go wrong

Never give out big loans. Any sum of money you lend to a buddy needs to be one you're willing to lose if they choose not to repay you. If they don't, at least you'll know they aren't really your buddy, and you won't waste any more time or money on them by continuing the association. Friendships have broken apart frequently for money. People have come to me with harrowing tales, saying things like, "The kids need food, I need petrol, and I'll pay you back as soon as I am paid." If they are struggling financially right now, they will probably continue to struggle even after they receive

Borrowing and giving money is a very normal thing in most cases, it is seen that many people borrow money and do not return it on time. Then there is a problem there are some people who cannot be foolish enough to lend money because if you lend money to them, you will never get it back. Even if you get it, you will have to suffer a lot there are some people who never spend from their own pocket it is better to stay away from these people.

My issue with lending money is that there are sometimes problems with repaying.
Therefore, don't lend any money that you can't afford to lose.

Before giving someone money, you should think about how reliable they are, how much money they have, and how you know them. It's important to figure out if the person is trustworthy and if you can count on them to pay back the money.

I personally dislike giving loans to people even if they are my close friends cause it usually results to lots of issues.I rather give you the little I can in terms of need that lending out the money,Many people don't like paying back loans which can results to so many problems.

giving the forest can cause a lot of problems, including getting us a lot of enemies.  This can happen because debt can affect our relationships with other people, especially if the person we are lending is difficult or unable to pay the debt.

I will likely not demand or take back the money I lend to someone if the person is using the money to finance things that will benefit others/society without charge. If the borrower is talented and knows what he/she is going  I will likely lend and never ask for payback.  But if he/she pays back voluntarily, I would accept because it's a loan and that depends on whether he can afford paying back the loan.

what I feel right now is a very difficult dilemma because what I do may be to help other people's economies because I feel sorry for what I am doing is probably a good thing, but they make promises that maybe many people break the key. , when the time comes for that person to disappear, what we have to do is give up what we have lent

Right? I consider lending money this way too. I cant believe there’s someone else who do too.

When I lend money, I treat it as an expense. If it’s not paid back, it’s okay because i already expected it for people who borrow money. If it’s paid then it’s better because then I have the same money that I can lend to other people.

If they are friends, I am not expecting anything in return. I won't give the exact amount, I'd just give any amount that I am okay to forget it forever.

This is much better if I know the people instead of not lending them and they're going to feel bad about me. How about as a lender, I'd feel bad as well when they can't pay me which has happened for so many times.

So, giving a free amount but can't stretch to what they're asking.

You shouldn't be doing this unless you are a loan shark and used to live from the interest coming from lending to others. But as an individual, you should never give money to anyone at all and if it is then it should be based on some kind of guarantee like someone who will promise to payback if that person isn't or the borrower should be close to you and you won't be concerned even if you lose the money.

Lending money to friends or family can potentially damage the relationship if not handled well. Consider whether the person has been responsible with past loans - if not, you may want to avoid lending to them.

actually this is depending in the attitude of lender and the character mate .

I think with this thread of yours? i believe that you are good person inside and out,  because
if I were that person being denied to get my payment? surely i will never lend people again as I have experienced that
couple of time that is why now?instead of lending , I am giving them small amount if they try to borrow so there is no
obligation to pay but they will be shy the next time they need money.

correct, because we are not only losing the money but we are also losing friends in that matter,
because better to let them have hard feelings at least the friendship will remain.