Greetings People!
When borrowing out money as an individual, there's a popular piece of advice that goes:
"Do not borrow out what you can't afford to dash out".
I've been working with this as a guideline, and if I don't have what to borrow out or don't feel like borrowing out, I usually use "I don't have" to cover it up, but sometimes it's so fcking hard to control because your close friends will always come asking for help and you'll be moved to help.
When it comes time to pay it back, it becomes a big problem for them.
Earlier this year, I got a better understanding of loan recovery, and it's not an easy thing at all. We've all been doing it wrongly, and if we're charged to court, it's not going to be funny at all.
When recovering a loan;
In Nigeria, these are the rules, and if you do any of these, you'll be charged heavily in court.
You see, a lot of us have been so wrong on it, and we've been having our ways because been don't have the in-depth knowledge.
My recent loan experiences
It was exactly the month of November last year when I was watching a World Cup match in a salon close to my house. The owner of the barber shop, who is a neighbour, was to go and pay for a certain thing, and the person to collect his money from had not closed from church, so he begged me to make it up for him, and once his friend returns, he would give me back.
I looked at him, a married man with children, "He's not looking like someone that will run away with my money, after all, we are neighbours", I concluded, and I gave him what was in my hand that particular period: N4,000.
Earlier this year, he closed down his shop and packed away from there to another area in our street. So because we don't see each other often again, he decided to cart away the money.
Till today, he hasn't called or shown any sign of remorse.... and he's working—like, he has money!
I met him one day. I frowned and reminded him of my money, and he said I should come to his house to collect the money.
Me? Come to your house to collect my own money?" People have audacity!
Although I can't arrest him or harass him because of the law governing debt recovery, but I'm planning on a day to talk maturity into him. I'm sure he'll share tears after it.
This is 7 months, and it's still counting.
Another one was a few months ago. It didn't happen like a direct loan because the guy collected before telling me that he's owning me.
I gave out one of my ATM cards to a used-to-be neighbour to use because he doesn't have a bank and the cashless policy was choking him.
So he had access to withdraw money (his money) from my account.
There was a day he needed money to eat and had none, so he collected some money from my personal balance on the account, promising he would pay once his boss pays him.
Guys, till today, he hasn't, and he's not remorseful about it.
I'm pitying and smiling at him, though, because he still uses my account to receive money from friends, and as soon as these funds enter the account, he quickly goes and withdraws them, maybe to outsmart me.
I always laugh whenever I noticed him do that because with just a click on my mobile app, I'll transfer the money out before he's able to withdraw.
I'm pitying him. Although that's because I've mapped out plans to get my money back without taking it from his balance.
Thanks for reading.
This is my entry to the Week 66 & Edition 02 of the Weekly Featured Contest in Hive Learners Community.
