Monday, 16 October 2017

How To Avoid the ONI-GBESE of lending out money without repayment...

I took this picture yesterday and in this selfie style because I was upset with a friend of mine I lent a good amount of money to but who is now trying to evade repayment. Infact she has started avoiding my calls, and is not replying them either nor is she replying all my text messages because the agreed due date to repay the loan I  gave her had lapsed. So why won't she at least answer my calls and tell me her reasons for the delayed non-repayment; because we've been friends for a long time and she knows that sincerely pleading with me would make me understand with her and give her some more time. She is also married so I am now contemplating taking the only option left to me which is approaching her husband for my money even though I know she won't like it but I need my money biko... I too have bills to pay.
Most importantly I'm sitting here thinking of how to avoid a recurrence of this type of oni-gbese money lending, and I think I've come up with some few useful tips.

Refuse to be sentimental and emotional to every story of financial woes brought before you. Learn to be objective

Verify the story being told of financial woes form another source before making up your mind to help

verify the credit worthiness of the borrower. Make sure he or she will use the money prudently and be able to pay on the agreed due date.

Get a tangible collateral signed in while setting up the loan agreement. It is for your own protection in case of incasity.

Request the borrower to get a trust worthy surety for him or her. This person or group of persons (depending on the amount being borrowed) will ensure no dubiousness comes into play while the loan facility lasts and may help in repaying the debt in case the borrower defaults or is unable to pay.

Never joke about your hard earned money even if it is with your own relatives.

Me I think I observed some of these tips but my neglecting some has landed me in the wahala of a run-away debtor.

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