How do you handle borrowers?

[Volimack]

The guarantor needs to know the reason and purpose of the lender for taking the loan so that the borrower is liable to them. At the same time it is ascertained whether the borrower can repay the loan taken or not. Before becoming a guarantor the terms of the loan agreement should be well known and understood. If the borrower fails to repay the loan the guarantor will be obliged to repay it consider whether you can afford to pay that amount.

[Y3shot]

I think the simple solution is to never lend money to family or friends. It’s too difficult to manage & too awkward if they have trouble paying you back on time. I would rather just totally avoid ever lending monies to family, friends or colleagues. I do not like to cross the likes of business & friendship.

Yes, if you want to stay from problem it is better not to lend family members and friends money because doing this is a big risk. If at all you want to lend family members and friends money just have it in mind that getting the money back is under probability,  you may not likely get back the money again. If you are not sure if the money can be gained back no need to lend the money out because demanding it back can cause serious conflict.

[TyteKiller]

The guarantor needs to know the reason and purpose of the lender for taking the loan so that the borrower is liable to them. At the same time it is ascertained whether the borrower can repay the loan taken or not. Before becoming a guarantor the terms of the loan agreement should be well known and understood. If the borrower fails to repay the loan the guarantor will be obliged to repay it consider whether you can afford to pay that amount.

What's really interesting a lot of this being extracted behind AI models to determine risk when a guarantor is determining whether someone is too risky to cover. So a lot of the details can be removed to just the key points that make the AI decision.

[Gormicsta]

Lenders must be sensitive and understanding, but they must also exercise vigilance to prevent reckless borrowing. I believe it are essential for lenders to have rules and processes in place for dealing with these circumstances, and to properly express them to borrowers. This way, everyone knows what to expect, therefore there are no disappointments. On the contrary, by working with borrowers to find a way out, lenders can assist them get back on schedule and avoid skipping; however, some borrowers will keep breaking the regulations and rules, thereby causing problems.

[Bushdark]

I think the simple solution is to never lend money to family or friends. It’s too difficult to manage & too awkward if they have trouble paying you back on time. I would rather just totally avoid ever lending monies to family, friends or colleagues. I do not like to cross the likes of business & friendship.

Yes, if you want to stay from problem it is better not to lend family members and friends money because doing this is a big risk. If at all you want to lend family members and friends money just have it in mind that getting the money back is under probability,  you may not likely get back the money again. If you are not sure if the money can be gained back no need to lend the money out because demanding it back can cause serious conflict.

No matter the situation I am, I've always prevent borrowing from banks because this is where the issues used to come from.
It is very easy for us to borrow from friends and pay back without any issues or plenty of interest like the bank would always want to charge us. I don't like borrowing and that is why I've been making savings so that when I have problems I would be able to resolve it without going out to borrow since no one cares about us in the outside world.

[Y3shot]

Lenders must be sensitive and understanding, but they must also exercise vigilance to prevent reckless borrowing. I believe it are essential for lenders to have rules and processes in place for dealing with these circumstances, and to properly express them to borrowers. This way, everyone knows what to expect, therefore there are no disappointments. On the contrary, by working with borrowers to find a way out, lenders can assist them get back on schedule and avoid skipping; however, some borrowers will keep breaking the regulations and rules, thereby causing problems.

You are right.  Lenders need to be very sensitive and do this with wisdom , they really need to know the real person they are lending to , and lenders need not borrow  people money thst will affect them and cause problem to dem . Because people who comes to borrow money they like using advantage of people especially when they know the person they collected money from is not a troublesome person  they would want not to return the money again.

[Gormicsta]

Only lend out what you can afford to lose.
In the past, if someone whom I am not certain about came to me asking for Financial assistance, I would only give them the amount am comfortable losing in case they don't repay. For the case of family members or very close friends, I give them without expecting it back.

If I feel like I can't afford to lend out the money I have, i just simply tell them that I don't have anything I can lend out at that moment. If they offer any form of tangible collateral, then well and good.

Great idea! You appear to be taking similar approaches in different parts of your life when considering the possible advantages and dangers of making a choice. For example, while making a professional choices, it's possible that weigh the possible advantages of choosing another position, such as more income or more fulfilling work, against the possible risks, such as reduced secure employment or an extended trip. It's a matter of hitting the right point and choosing the best option for you. It's a very practical way of observing matters, and it's an extremely useful ability to have. And it's wonderful that you're prepared to help those who are closest to you without asking something in exchange.

[Barikui1]

I think the simple solution is to never lend money to family or friends. It’s too difficult to manage & too awkward if they have trouble paying you back on time. I would rather just totally avoid ever lending monies to family, friends or colleagues. I do not like to cross the likes of business & friendship.

Yes, if you want to stay from problem it is better not to lend family members and friends money because doing this is a big risk. If at all you want to lend family members and friends money just have it in mind that getting the money back is under probability,  you may not likely get back the money again. If you are not sure if the money can be gained back no need to lend the money out because demanding it back can cause serious conflict.

Lending money to a family member is not very much ideal to me because it's very difficult to retrieve that money back from them, and most times if you insist on going all out just to get back your money, it will definitely spoil the relationship between you and that person, so it's best you don't borrow any of your family member at all, if they ask you to borrow any money to them, you can give them like half of it or  anything you have, but don't have it at the back of your mind in retrieving that money back, so that your relationship with them will be intact,  I say so because retrieving back borrowed money from relatives always end up in broken relationship, so it's best not to borrow in the first place.

[EluguHcman]

Only lend out what you can afford to lose.
In the past, if someone whom I am not certain about came to me asking for Financial assistance, I would only give them the amount am comfortable losing in case they don't repay. For the case of family members or very close friends, I give them without expecting it back.

If I feel like I can't afford to lend out the money I have, i just simply tell them that I don't have anything I can lend out at that moment. If they offer any form of tangible collateral, then well and good.

Lets understand that lending can be of two different reasons which is either you are lending to help someone out to solve their issues and expects a repay without an interest of profits or you are lending and expecting returns with an interest of profits.
So in this case of lending without interest of profits returns, we can lend only what is obtainable to loose because it could be assumed that there is a little familiarities between you all, do conciousness of fighting with some familiar to you at the cause of inability to payback should be observed not to bridge your connections so, it is early better you lend what is affordable to loose.

But on the side of expecting an interest profit returns, it could be assumed that it is a source of income for you do, basically you do not only lend what is affordable to loose but also amount you find treasuring because it is assumed you are bearing the risk of chasing profits but to be on the secured side of it not to get your valuable lost if impossible to repay back, then you can always demand for a collateral to defend your treasure if not able to get back your returns.

And then borrowing to the family, you can always help them out with as much as your ability can bear without a significant of borrowing because it should be assumed that it is your responsibility to help your family members at things they lacks which you are in position to help.
But while helping family people, do not let to be override and be watchful before your kind giving hearts makes your life miserable of helping ungrateful people and where it could affect your finances from stagnations.

[Zanab247]

If you want to live long as a woman or man never you borrow money to your family members because, they will not show any sign of pay you back the money because they will think that you are their sister or brother and, you will not have the mind to use the police to arrest them than to leave the money for them.

You can use someone name to borrow them the money and they will take it serious to work hard to ensure the date he or she fix for the returning of the money will not pass without making the money available because, they will fear to return the money when you use other name to borrow them the money which is the strategy I use to borrow my childhood friend money.