How do you handle loans in the KoW

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Phnom Poon
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Re: How do you handle loans in the KoW

Post by Phnom Poon »

xandreu wrote: Wed Aug 21, 2019 1:29 pm I've found that the best way of avoiding loan hassles is to simply not loan money at all. Neither to Western friends
There are critical times when a "loan" can really help someone out, maybe even change their life course
the "payback" is instant in that case
actual is payback just a bonus

.

monstra mihi bona!
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xandreu
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Re: How do you handle loans in the KoW

Post by xandreu »

Phnom Poon wrote: Fri Aug 23, 2019 8:59 pm
xandreu wrote: Wed Aug 21, 2019 1:29 pm I've found that the best way of avoiding loan hassles is to simply not loan money at all. Neither to Western friends
There are critical times when a "loan" can really help someone out, maybe even change their life course
the "payback" is instant in that case
actual is payback just a bonus
One of the most important life lessons I was ever taught by my parents was to never ever allow yourself to be in a position where you need to borrow money to tide you over. As I said, large loans to buy property or start a business to "change your life course" is normal and commonplace. I don't have any issue with that. It's how the capitalist system works.

But I take issue with fully grown adults who allow themselves to be in bad, short term monetary situations that that they haven't bothered to plan for and need to rely on friends or family to dig them out of. You can tell a lot about someone's character and their attitude towards to money when they ask to borrow $100 or so until they get paid.

If you already have a job and still need to borrow money to tide you over until you get paid, I'm sorry but that's your problem. not mine. If you've suddenly lost your job for whatever reason, teaching jobs in PP are ten-a-penny. Anyone can get a job within a month of being laid off. Again, if you haven't bothered to plan for such a scenario, that's your problem, not mine.

The only time it becomes my problem, is when I've lent you money and you can't afford / can't be bothered / don't want to pay me back.

I'd much prefer you keep your problems to yourself and I'll keep mine to me, thanks very much.
The difference between animals and humans is that animals would never allow the dumb ones to lead the pack.
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Phnom Poon
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Re: How do you handle loans in the KoW

Post by Phnom Poon »

lol
i agree about deadbeat, or unsustainable loans
but do you have any friends?
they should probably know they can't count on you in an emergency

.

monstra mihi bona!
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xandreu
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Re: How do you handle loans in the KoW

Post by xandreu »

Phnom Poon wrote: Fri Aug 23, 2019 10:39 pm lol
i agree about deadbeat, or unsustainable loans
but do you have any friends?
they should probably know they can't count on you in an emergency
Yes, I have many friends thanks. Both western and Khmer.

They either already know not to count on me on an emergency, or are yet to find out.
The difference between animals and humans is that animals would never allow the dumb ones to lead the pack.
CamExpat
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Re: How do you handle loans in the KoW

Post by CamExpat »

A friend's (cambodian) wife tells her family her husband is a poor destitute barang who is living in Cambodia because it's the only place he can afford to on his pension.....

They believed her for a while, but apparently are starting to get suspicious after they found out their vacations were to Singapore, Hong Kong and Japan, not Thailand and Siem Riep.....
fsdfdsdf
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Re: How do you handle loans in the KoW

Post by fsdfdsdf »

lostjeremy wrote: Tue Aug 20, 2019 4:12 pm Collateral....
Never loan without first collecting their original national ID Card, family book and smart phone at a minimum.
Passport, Moto, car, vehicle tax/I'd card are additional security.

Sent from my CPH1823 using Tapatalk
how do you expect them to pay you back you you have taken away all their means of getting work. even prostitutes need ID cards to get into hotels. you are basicly putting someone in the position of working as a freelancer on the street and expecting them to repay a loan
NitNoi
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Re: How do you handle loans in the KoW

Post by NitNoi »

Advice I was given some years ago that has worked well for me.
If a friend asks to borrow $100, I say "Sorry, but I can GIVE you $30".
They go away happy and I have saved $70!
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Spigzy
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Re: How do you handle loans in the KoW

Post by Spigzy »

Flip side of the coin; I was once put in a really tight (utterly shit) position after divorce from my first wife (UK). I had to borrow about £5k from my best mate to tide me over until I got myself straight again within the year; I paid him back £6k so he didn’t lose out on his otherwise impeccable saving behavior, and a salute to a true friend who dug me out of a very deep hole when I needed it the most. I’d do the same for him in a heartbeat and expect nothing back. It’s all about circumstance,

My point is, if you’re the one borrowing, have some respect for the person that lent you the money in good faith; paying just the amount borrowed back is a bit of a dick move. Borrow just a hundred for a day, pay it back & throw in a beer or something at least.
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ut sint Guinness proxima morientis ori.
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