How do you handle borrowers?

[noorman0]

-snip-
constantly demanding

I don't want to let them do that because it's a bit annoying. The solution depends on whether the relative has a bad loan history, either with you or anyone else. From there you have a conclusive estimate of how responsible they will be if you grant the demand. If they are bad at this, I might just give a modest amount of money out of generosity.

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[Jawhead999]

When dealing with individuals who don't repay borrowed money, have a direct conversation about their obligations and the importance of fulfilling their commitments. Consider establishing clear terms, such as repayment deadlines or installments, to minimize the chances of future conflicts.

It's easier to be said, than done.

There are many good lenders out there are always contact the borrowers everyday to repay the loan and using clear terms is useless because the borrowers will not care about it. This make the lenders just want their money back, at least the initial money without interest rate, but the borrowers always say they don't have money.

When you force and give them pressure to pay, they would angry and might attack you.

[BADecker]

Jones lives in the house next to mine on the right. Smith lives in the house on my left. Jones borrowed my lawn mower from me. He never brought it back, even when I asked him for it.

Smith came over and wanted to borrow my lawn mower. I told him I couldn't loan it to him, because Jones had borrowed it, and never returned it. I didn't have it to mow my own lawn, to say nothing about loaning it out to my neighbors.

Smith went over to Jones's house, beat the crap out of him, and brought my lawn mower back to me. So, I loaned it to Smith, because I was too scared that he might beat the crap out of me if I didn't.

 

EDIT: BTW, Smith brought my lawn mower back after he finished his yard. But now the cops are after me because Jones told them I hired Smith to go beat the crap out of him, and Smith won't tell them the truth, that it was his own idea.

[Cryptomultiplier]

To remind them softly helps in cases where it is important they return what was borrowed, unless borrowing is the business, please enforce authority. If it is something that holds little value and can be easily replaced or there's a spare or somehow you seem to manage well without it, you can leave them to their memory, until they remember.

For family or friends, firstly remember, what are friends for, if not for inconveniences. Family is family. If it is something you can overlook, please do so. If not, remember they are the only family you got to remind them still. If they respect you they will refund what was borrowed, if they don't respect you, they won't return or refund. Still, they are family.

The best way to avoid such a scenario is avoid borrowing in total.

[Hispo]

I mostly try to keep my financial situation as private as possible and only share it with my parents, who are very discreet in those matters.
In my family we a re accustomed to help each other with money, we do not offer loans but rather give away when someone is in need, so there would be no future problems because there is no actual debt generated in the first place.

There has been many instances my mother has gave money to their sisters and even the children of them, without expecting any payment back. It is better that way I think, it keeps family closer to one another.

[paxmao]

I mostly try to keep my financial situation as private as possible and only share it with my parents, who are very discreet in those matters.
In my family we a re accustomed to help each other with money, we do not offer loans but rather give away when someone is in need, so there would be no future problems because there is no actual debt generated in the first place.

There has been many instances my mother has gave money to their sisters and even the children of them, without expecting any payment back. It is better that way I think, it keeps family closer to one another.

In my case, I would not hesitate to support my near family financially - I can trust them as they are "simple people" with "simple lives" which means they do not get into trouble and stick to a very boring, predictable and stable style of life. Perhaps that is the reason why they never had to ask me for any short of financial help. Speaking of me... I do not recall ever borrowing more than the equivalent of 20 usd, and that because I forgot my wallet or the like.

[Lordhermes]

Borrowing has cost a lot of disputes and shame to the society and to individuals, because people who borrow in good manners end up not meeting up and always return it in quarrel or fight. given the lender problem.

you will see people coming to borrow money from you with good smile and when you ask they pay back, they will start ignoring your calls and text. so have learnt never to borrow what i can not give away. e.g if you want to borrow 5$ from me, I'll give you 2$. so in case you didn't pay back, I'll not bother.

secondly, have stopped borrowing money to family menbers, instead i dash them. to avoid crises in the family.

thats the only way to handle borrowers.

[Gozie51]

you will see people coming to borrow money from you with good smile and when you ask they pay back, they will start ignoring your calls and text. so have learnt never to borrow what i can not give away.

They say the face that people use while they want to borrow money is not the same face when the time comes for repayment. That ignoring of phone calls by debtors is a known fact. It is an obvious signal that the debtor is avoiding payment. Although sometimes it may be that the money for repayment is not ready but it suppose to be related to the creditor but out of shame, the debtor could be avoiding the call. At other times it might be an exit scam outrightly

[Ndabagi01]

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

This is a really important matter to manage. But basically, I don't even let them know I have money to give them or show any indication that they can obtain what they want from me. Sometimes, your actions and reactions to things make them feel dependant on you, and they will constantly want to lean on your riches, which many will not want to pay back, and they will use the phrase "relatives" to reap you off your wealth. It is preferable to have the idea of dashing out your money to your relatives rather than having the mindset of it being borrowed by them and awaiting a return; otherwise, you may stay forever and never get it back.

[Dzwaafu11]

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you.

Being helpful is crucial. We all know that when you have money, you should try to help those around you because doing so will lead to greater success. However, these things can always happen when you always show up with money, and I think people will always come to you with financial issues at any time. But I don't typically flaunt my wealth to my family and friends. When they ask, I often give them 45% of what they requested since I always believe that if I can completely satisfy them, they will still come back. However, I want them to understand that I am that kind cash-strapped.

How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

Since they have already let me down once, I don't really try to borrow them money again if they don't pay it back after the first time. I don't give them another chance because even if I try to help them out, they won't pay me this time because they have already let me down once.

[GiftedMAN]

There's a popular saying that the manner in which people comes to borrow money is not the same manner which they return it. On this note, I only borrow money to people who have no close relationship with me because asking them for a collateral will remind them to pay faster but when it comes to borrowing money to people closer to me or people with close relationship, the best help I offer is to dash them an amount that won't affect me, in dashing them a certain amount which may not be up to what they intend to borrow, I have made it know to them that it's not refundable so they don't let it bother them.

When you borrow some people money, you either end up being seen as a bad person because you requested for the refund of your hard earned money or they see you as part of the bad luck they are having in the family. I have stopped borrowing money to people rather I render some help in my own little way to avoid having issues whenever they fail to pay back.

[Jessie2121]

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

Family and friends will always be around you ones they know you have money, they can do everything possible to be on your side no matter what as long as they can get what they want from you and they know you can't say no to them. Is really hard to even say no but the best thing is to help and be mindful of how you help out because the day you go bankrupt they'll be no where to be found.
About those who borrow without making any effort to pay back, what I do to such people is let them be without disturbing them, if they decide not to pay I'll take it that I have settled that particular person for life, he won't come to demand for money from me knowing quite alright that he's still owing me, if he/she doesn't pay then nothing for for them, it has to be that way. By doing so it will limit them from coming to ask ones they know they can't pay back.

[mindrust]

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you. How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

I handle borrowers the same way I handle browsers. I don't give an inch. I don't compromise. There is a good saying in my country: "If you give your hand today, you will give your ass tomorrow."

So when a neighbor or relative asks a loan from me, I tell them go fu... no, I tell them to go to a bank. Banks exist for this reason. To provide loans...

If he/she can't borrow money from a bank, well shit, then it means he/she shouldn't be having it.

[purinZ14]

I came from a country where family is deemed the most important and the culture of lending money to them is prevalent. If you don’t give them money, you’ll be considered as someone who isn’t kind. A lot of people are saying that it’s not your responsibility to give them money but like I said for countries such as mine, denying them is not the easiest thing to do. There’s really no other way but to just give what you can when they really need it. A lot of people however would end up borrowing money from you again and again if you give them one time so it’s better to tell them  that you’re also short and have no extra money to lend. You’d probably feel guilty (depending on your relationship with your family) but you can’t sacrifice your own finances to help someone.

[BADecker]

If they are so poor that they don't have food, even, give to the poor. But make sure they won't be spending it on fentanyl first. Maybe buy the literal food for them.

Other than that, loan to everybody... after you get some collateral from them that is 3 times the value of what you loan out. If they don't repay, the collateral is yours.

[lienfaye]

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other.

I help as long as I can in my own little way especially if it's a family. Just like now, my brother had a blood clot operation on his brain. Aside from the financial help that I can give, I'm also one of his companion in the hospital until he's discharged.

How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

I experienced this many times and it's really disappointing when someone you trust failed to return the money on the promised date. So you can only borrow if you're responsible, otherwise you can't repeat borrowing from me since I learned my lesson already.

[Gozie51]

Other than that, loan to everybody... after you get some collateral from them that is 3 times the value of what you loan out. If they don't repay, the collateral is yours.

The possibility of the poor providing collateral is very small yet they need loan , so what do you do in such instance when they can not provide collateral? I think that is a delicate situation . IMO I think depending on the amount they are asking for, if it is reasonable with what they want to do with the loan, you can split into three also and give to help them without asking for it back, that is if you can afford to especially with family and close friend but a random person may not be of same consideration.

[rybako]

That’s a tough situation. I know how you feel. I have a lot of family and friends who are always asking me for money. They think I’m a bank or something. 😒

I have a few strategies to deal with them. First, I always ask them what they need the money for. If it’s something urgent or important, like a medical bill or a rent payment, I might consider helping them. But if it’s something frivolous or unnecessary, like a new phone or a vacation, I say no.

Second, I always make them sign a contract when I lend them money. I write down the amount, the interest rate, the repayment schedule, and the consequences of defaulting. I make them read it carefully and sign it in front of a witness. Then I keep a copy for myself. That way, they can’t deny or forget that they owe me money. 😏

Third, I always follow up with them regularly. I send them reminders and invoices every month. I call them and text them and email them and visit them. I make sure they know that I’m serious about getting my money back. I don’t let them ignore me or avoid me. 😠

Fourth, I always cut them off if they don’t pay me back. I don’t lend them any more money. I don’t do them any favors. I don’t invite them to my parties or events. I don’t talk to them or hang out with them. I make them feel the consequences of their actions. 😤

These are some of the ways that I handle the situation. It may sound harsh, but it works for me. It helps me to avoid being taken advantage of and to protect my finances.

I hope this helps you too. Good luck with your money problems. And remember, you can always say no to people who ask you for money. It’s your money, not theirs. 😉

[Solosanz]

The possibility of the poor providing collateral is very small yet they need loan , so what do you do in such instance when they can not provide collateral? I think that is a delicate situation . IMO I think depending on the amount they are asking for, if it is reasonable with what they want to do with the loan, you can split into three also and give to help them without asking for it back, that is if you can afford to especially with family and close friend but a random person may not be of same consideration.

Usually the collateral is about his personal information, when they can't pay their loan, the debt collector will always contact them and even come into their house to force them to pay. They will intimidate the loaner's family and his neighbor too, so it will make the loaner's family feel shy and want to get rid off from the loan. Most of the time, they will pay the loan because of getting pressured.

[Gallar]

How do you deal with the situation where people who you are close to like family and friends are constantly demanding for one kind of financial assistance or the other. It is not possible to help everyone, so how do you handle it and make sure that giving and trying to help people do not turn into a problem for you.

Usually if this happens to me personally, there are several stages, which I will do to get a decision, to lend or not.

The first thing I will do is measure my own abilities first, in terms of the finances that I have. Do I have cold cash that I won't use in a long time, Or nothing. Then if I have the cold money, I will definitely proceed to the second stage.

Then for the second stage, I will definitely see who will borrow the money. Because for example, if that person has something I don't like, especially in terms of attitude, I most likely won't lend that person money. Because people with a bad attitude usually find it difficult to pay when it's time to collect debt, and it will definitely make things more complicated.

And for the last stage, I will definitely ask the person the reason why he wants to borrow money. Because if the reason he is borrowing money is for something that is positive or for something urgent and concerning. I will definitely give him a loan.

How about people who borrow money from you and never return it or even show any effort to make payment back to you, how did you go about the situation?

If this situation has occurred, I will definitely continue to collect debts from the borrower continuously. But if the borrower still doesn't pay it, I will definitely let it go, if the money borrowed by that person is not too big. But if the money borrowed is quite large, I will definitely make a letter of agreement with that person, just in case the person is still reluctant to pay the debt, I will confiscate the items that the person has whose price is in accordance with the debt he has.