Lending Money To My Relative (Urgent)
-
First, look at what option this relatives of your have, maybe they got lots of gold, can pawn maxi cash and take the money, or can sell some of their assets to make money, or can ask bankloan with mortages. When all options dried out, then this relatives of yours must be damn poor, then you see what you can do, hold a big relatives meeting and ask everyone chip in to help.
-
2 sides to a coin;
relative make request, up to you to accept or not and decide if u want to charge interest or not also. Then, up to relative to accept your conditions if there are any.
The things about relationship can be a hard one. Technically speaking, you can 'name your price' and if they don't accept, they shouldn't blame you, because they are asking for your help. Everyone has their own things to think of.
On the other hand, if you value your earnings more than a relative's life, then you might want to confirm if you feel right about those priorities. Again, your decision.
Maybe if u don't want to give too much and hence have to worry about interest...maybe can help by lending a smaller sum?
-
We are responsible for our decision. We should not point the finger at others at the end of the day. Please make a wise decision. Good luck!
-
Seriously speaking, I really dont like to lend money to people.
Why?
Lend money is easy, you ask money to return back is difficult. You get what I mean?
Esxpecially relatives, if you want to lend them money, tell them I will charge for a interest cos if I dont lend you, I usually park my money in FD.
How much you going to lend to your relativers? $50,000?
-
the govt wont go after someone who loans money to one relative. or are you loaning to all your relatives?
-
Some relatives will not return the money once they get the money from you. It will be difficult to ask them back.
Unlike friends, you can tell them directly when they going to pay you back.
But once again, lend money easy, return money difficult.
With this issue, you will be able to see how good he is.
-
last sunday a ex-colleague just sms me say she out of job,
ask me to lend her $
I nvr dare to reply her sms
-
Originally posted by likeyou:
Some relatives will not return the money once they get the money from you. It will be difficult to ask them back.
Unlike friends, you can tell them directly when they going to pay you back.
But once again, lend money easy, return money difficult.
With this issue, you will be able to see how good he is.
friends also difficult to get back.
in fact be prepared to write the money off...
-
Originally posted by JerryJan:
last sunday a ex-colleague just sms me say she out of job,
ask me to lend her $
I nvr dare to reply her sms
Aunt, I also got no job, can lend me some?? -
If it is hard earn money, meaning your sweat, blood, brain, strength, open legs or hands or whatever earned money, it best you keep it to yourself, you only can lend out to anyone if you have spare money that you won from 4D, lucky draw or toto, or won in shares, but that also need to be prudent about it
-
money management is the problem. real like example. i know one housewife always no money, but basic things like how to control household expenses this and that also cannot manage, that's why even poor always no money! then don;t wanna just get a work everyday clean house so that her mind is occupied - ended up most expenses or money she had spend on - washing power, even clothinig wear once for a short trip to market come back must put one handful of washing powder to was, wash use detergent and water to wash the whole house every day at least once - shower three times a day, herself and on all the kids. ended up utitly bills every month even without aircon over 100 200 dollars - even back in the 80s 90s days. see stuff with the color she likes just buy, ended by somewhere got cheap sales bought 50 over cans of air refresheners - wow tok about mental this type really is got one wire lose!
-
Originally posted by JerryJan:
last sunday a ex-colleague just sms me say she out of job,
ask me to lend her $
I nvr dare to reply her sms
really no moeny can get gahmen help 1. that's really no money even to eat -
Originally posted by likeyou:
Some relatives will not return the money once they get the money from you. It will be difficult to ask them back.
Unlike friends, you can tell them directly when they going to pay you back.
But once again, lend money easy, return money difficult.
With this issue, you will be able to see how good he is.
a lot of this type of people 1 lah. last time new in one job got lunch catering our workers buy order in bulk 1 so morning always collect money. when i go order always got china foreign labor ask me got change or not, he no change can pay for him first?long time never encouter things like that already - quite refreshing, but i reacted like ' balls to you' in a very polite way
-
i would suggest you can ask them to take loan from BANK or Old Money Lender in market.
Hmm... i think they call Quick Credit. Im not here to advertise, i just heard from my friend that this credit company not bad.
here's the link: http://www.quickcredit.com.sg/
sometimes it is better that, you advise them to take loan from Bank or Money Lender. Because protect you and your relative to avoid any misunderstanding
Cheers...
-
haiz....why so many people like to lend money without interests?
-
will you even get back your capital, much less the interest you are going to charge him lol. most people who lend, wont get to see a single cent back.
-
Originally posted by Fcukpap:
haiz....why so many people like to lend money without interests?
Becos they are not licenced to take interest, only licenced money lender can charge interest, and that include banks and other financial insitution. -
Let say I borrowed 200k from my Aunt JerryYan, I told her I will return, she said she charge 10% interest per month, I said no problem, after one month, I called the police that my Aunt is a illegal moneylender, she charged me interest. The CID then get her into fine and jail, for me, no need to pay a single cents.
-
Originally posted by Rooney_07:
will you even get back your capital, much less the interest you are going to charge him lol. most people who lend, wont get to see a single cent back.
Must treat the $ as already gone liao....dun ever see it again....otherwise, dun lend.
-
Dun lend also some give some, like me, when someone ask for $100, I said no money, $5 take and go
-
Originally posted by angel7030:
Dun lend also some give some, like me, when someone ask for $100, I said no money, $5 take and go
Yah like that also can !
-
yalor, if they pester somemore, tell them, hello $5 want to take or not, if talk further, $5 also gone..then usually, they quickly grab the $5 and walk off, the next day if they ask again, told them already said no money, and already given $5 free, so what more do they want?? then you can see them feel paiseh and walk off
-
Originally posted by angel7030:
yalor, if they pester somemore, tell them, hello $5 want to take or not, if talk further, $5 also gone..then usually, they quickly grab the $5 and walk off, the next day if they ask again, told them already said no money, and already given $5 free, so what more do they want?? then you can see them feel paiseh and walk off
Some people have the bad habit of borrowing $ from frens and relatives but never repay them back....if your relatives are like that, dun lend them any $....
-
For these type, when they ask me, I told them, I also very cham, can you borrow me first, I lost alot in shares, please help me. Then you see they run away faster than you.
Alway learn to act, people act, you act more, some people in joo chiat call me the Golden horse actress
-
Originally posted by angel7030:
For these type, when they ask me, I told them, I also very cham, can you borrow me first, I lost alot in shares, please help me. Then you see they run away faster than you.
Alway learn to act, people act, you act more, some people in joo chiat call me the Golden horse actress
Hahaha! That's great acting ! But u said u no $ people how to believe u? U got own pub business mah....unless like u said lose $ in shares....Hehehe !