I believe almost everyone one time or the other was in urgent need of money and needed to borrow from either financial institutions, family members or from Friends, so there is no sin in taking loan once you are able to pay back when due.
Though, I don't like borrowing money because as a salary earner I find it very difficult to understand how borrowers cope at the end of the month when their money were been deducted because of the loan they have taking. My earnings are on budget and I felt if I take a loan, one of my personal needs will be affected and if I'm unable to pay back when due, it might lead to problem between me and my lender so I try all my possible best not to engage myself in loan taking to avoid insults.
I respect myself a lot, so I try to live on budget and as well have little savings to help myself in time of need. I also try all my possible best not to lend people money not because I don't want to help but most times borrowers aren't always prompt to loan payment and some even turn it to quarrel so that you won't be able to collect the money again. To avoid exchanging words with people, I try not to lend people money but I can assist with the little I can afford.
My Experience with a borrower
Early last year, on a faithful Friday evening, my Aunt's husband Mr Ade came teary to my house and told my Mom that he needed someone to lend him money for his last born's school fees. At first Mom felt reluctant but he kept insisting that if Mom should help him get the money, he would pay back when due. So Mom pitied him and told him she will help him get the money from her place of work on the condition that he pays back by end of the month, he agreed. Then Mom told him to come back the following week by Monday evening to collect the money, he thanked her and left.
After the man left the house, Mom had a rethink not to collect the money from her place of work again, so she came to me and asked if I will be able to lend Mr Ade the money which was approximately $50 but she told me she won't tell him that she collected the money from me. I agreed and gave Mom the money but in my mind, I knew the man will default.
Mr Ade came around on Monday evening, he was very happy that Mom had gotten the money for him, so he collected it and gave Mom the assurance that he will refund by ending of the month. After two weeks, he refunded half of the money, myself and Mom were surprised so we thought he was a serious man that by month end he will pay back the balance.
Lo and behold, he disappeared and we didn't see him again. He ignored all Mom's call and the most painful part is that he didn't bother to say anything about the money or apologize for his default. At every slightest opportunity he avoid Mom and in my mind I was like, what if Mom had borrowed the money from a financial institution or from her place of work and not from me, how will she be able to pay back? Mom went to his house very early one morning and reported him to his wife, it was at that moment his wife knew what he had done. She pleaded with Mom and asked her to give them time to look for the money which she agreed.
At exactly six month, the inconsiderate man refunded the money, he didn't even bring it by himself, he sent one of his children. Mom begged me that she will never do such thing again and that experience also taught me a great lesson. No matter how someone is in need of money, I never loan out or help someone borrow money.
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