Why would you take a loan when you know full well that you’re not going to pay it back? You know you don’t have the means to pay back, but you’ll comfortably take a loan and incur debt. The only time such an act could be understood is when this is done in an emergency; maybe to get your landlord off your back or something that has to do with your health or that of your loved ones.
The worst are people who take loans simply because they see it as free money and it is readily available. People are on the run from loan apps because they bit off more than they can chew, and when you hear the reason they borrowed in the first place, you’ll cringe. Some borrow money to gamble and place bets, some use it to live fake life knowing paying back will be hard.
This is why traditional banks find it hard to give a loan to just anyone, they will scrutinize you first and make sure you have the means to pay. This is because they know how human nature can be, we all love to take but never give back.
Personally, I don’t have much experience with risky loans, this is because I was bitten by it at a very young age, back when I was in secondary school and that forced me to review my stance on this loan thing.
I was in SS1, and it was not even my money that I loaned out. I was the group leader in one of our class projects that year, and this means that I was the one in charge of collecting the money for the project and buying the things we’ll need, amongst other things. Well, I was given this money on Friday and I had the weekend to buy the things we needed so I would take it to school the next Monday. The money we gathered was just a thousand naira, not worth much now but definitely a big deal back then.
However, just as I stepped home from school that Friday, I bumped into one of my neighbors. He looked visibly sick, he said he was suffering from malaria and asked me if there was anything I had on me to assist him. As in, I had not even dropped my bags, or entered my house, I was just through the gates of our compound when he asked me all this. This was not a young guy either, at least not as young as I was, he was easily at least ten years my senior.
He said he didn’t have enough money on him to buy drugs for malaria and typhoid, and I should give him anything I could and he would refund me latest by Saturday morning. I didn’t, I told him I didn’t have anything to give him. And truly, I didn’t. I didn’t have any money of mine on me, the only thing I had was the project money but it was as if he knew that. He kept insisting I check my pockets to see if I had anything as if I would put money there and forget about it.
Anyway, he found the money and begged me for it. I told him the money wasn’t mine, he insisted he would pay it back unfailingly the next day with time for me to go to the market. Eventually, my resolve wore down, especially by the fact that he was seriously ill. Gave him the money, and he thanked me profusely and left.
Saturday came, and so did Sunday, I saw neither hide nor hair of this guy. I went to his place to look for him but his family told me he wasn’t around, he went out. As Sunday came to a close, I became really scared as I already knew I couldn’t go to the market anymore. I just needed the money, so I would figure out the rest when I went to school the next day.
Throughout that day, I didn’t see him. On Monday, before I went to school I called at his place and found him. All this guy was giving me were excuses, he was promising me heaven and earth. He would have my money for me, he just needed time. I was like, but I told you the money was not for me! Now that you are healed, you were just avoiding me like a criminal. Hehe, now that I think of it, it’s kind of silly because this guy was easily twice my size and would have snapped me like a twig.
Anyway, he didn’t pay me back the money and I had to go to school empty-handed. No money, and no project materials. I was terrified of what I would tell my groupmates. I once told you guys how easy it was to get expelled from my school right? Well, eating the contribution could also lead to that, because that is what everyone who hears the story will believe- that I stole their money.
As the time to submit drew near, one of my close friends in school saw that I still had nothing on me while the other groups were adding the finishing touches. He was the one that inquired what was happening and I just confessed everything to him. At once, he took an excuse and went out of the school to buy them with his own money. The guy used to work part-time at a betting shop, so he was always flush.
This guy was the one that saved me, without even asking that I pay him back. If not, I would have had to explain to our teacher why I didn’t do the project I collected money for, and who knows where the situation would have gone from there.
I didn’t leave my neighbor either, I pressured him to give me my money but he kept curving me. After a while, it became evident he wasn’t going to give it to me. Especially when he started saying things like, “You’re a guy like me, free me…”
Yeah, he was basically telling me to forget about the money because we were both guys. Well, I knew then that I had to inform my Mom about the situation and she was pissed that I let it go on for that long without saying anything. My Mom is a no-nonsense woman and she doesn’t appreciate anyone trying to play smart either on her or her children. She took up the matter at once and confronted him… well, just know that the very next day the money was back in my possession.
I love you, Mama!
I gave the money to my friend, thanking him for helping me out. While he didn’t ask me to pay him back, I couldn’t just keep the money knowing fully well I was owing him. He was happy when I gave him the money which made me realize that he also needed the money, yet he chose to help me out. I never forgot that.
This act made me very wary about who I loaned money to. I only gave money that I could afford to lose. If you ask for 30k, if all I have is 3k, I’ll give it to you. If you pay me back, good and fine. If you can’t I’ll know you’re just a snake and I’ll never give you money again.
Over the years, this is the tactic I’ve been using, along with just telling people the simple truth, “I don’t have!” Those three words have saved me from a lot of heartbreaks and unnecessary bank transfers, I suggest you try them out yourself.
Everyone likes freebies, as long as it comes at no cost to them. But when it comes to paying back, they keep making up excuses. Sometimes, I don’t blame the loan apps for the extreme measures they take to get their money back, because if you leave many of these people, they will simply wreck you and move on to the next person.
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