Strangled by debt': Covid deepens Cambodia's loan crisis

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atst
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Re: Strangled by debt': Covid deepens Cambodia's loan crisis

Post by atst »

newkidontheblock wrote: ↑Mon Nov 16, 2020 9:57 pm
atst wrote:As an ex mortgage broker. Is there a difference?
I've bailed out not only my girlfriend but her sister from these sharks , they go do it again , thier on there own this time.
You LEND your better half and her family?

I invest. I never lend. No expectation of money every returning from family.
You read it wrong my girlfriend and sister got themselves into dept with loans from microfinance company's, I paid them out for them , thousands it costs me, yes as expected no thanks they just go do it again. KOW
I'm standing up, so I must be straight.
What's a poor man do when the blues keep following him around.(Smoking Dynamite)
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truffledog
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Re: Strangled by debt': Covid deepens Cambodia's loan crisis

Post by truffledog »

Mmicrofinance was originally not intended to fund marriages, TV`s, Iphones and other non productive items. The money lent should have been invested in profitable business ideas that would have paid back more as the interest and the monthly installments cost. The lenders know that the money lent (=qucik cash) is mostly unproductively spent and are happily waiting to put their hands on the undervalued land that was used as a collateral. When the MFI will sell the land they now own (thats is after the loan taker has failed to repay) the total profit on the initially borrowed amount will be x-fold. Most MFI's in Cambodia have done more damage than benefit IMHO.

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whatwat
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Re: Strangled by debt': Covid deepens Cambodia's loan crisis

Post by whatwat »

Is that sign from an MFI?
Don’t listen to Chinese whispers.
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rubberbaron
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Re: Strangled by debt': Covid deepens Cambodia's loan crisis

Post by rubberbaron »

I had posted this in October.
[url=http://www.phnompenhpost.com/special-re ... nce-sector[/url]
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Woody
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Re: Strangled by debt': Covid deepens Cambodia's loan crisis

Post by Woody »

atst wrote: ↑Mon Nov 16, 2020 8:17 pm I was explaining from experience banks, loan sharks are the same in fact banks are probably worse, but it doesn't take away from the fact people borrow money and then complain when they have to pay it back.
How many mate's have you lent a guid to never to see it again?
As a mortgage broker you do care as you get the trailer commission for 25-30 years on home loans that's the bolk of your income
Wow mate its a long time since I have seen a guid. How old are you?
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