Neither a borrower nor a lender be - Vanny's in depth analysis

@vandana7 (75844)
India
February 3, 2020 11:35am CST
As if I can ever do that. LOL But I am trying to say yes, if you lend, there is a chance, more borrowers will start hovering, and you will end up with quite a few unreliable ones that will raise your blood pressure. I don't suppose the Lord spoke anything about blood pressure in those days but ..whatever be his terminology .. he expected this outcome from lending. At the other end, he said you should not be a borrower. Did he mean that if you borrow, and the lender may murder somebody, and out of gratefulness you would have to become the alibi? So in that light, don't borrow. Coming to practical aspects, yes - I have borrowed to purchase my homes. Partly from bank, and partly from private individuals. I paid interest at the rate of 24 percent per annum for a brief period, on borrowed sums, till the loan amount was released. I did not grudge that interest. In fact, I loaned 5 times that amount to that party much later, at almost half the interest rate, because that gentleman took more risk when he loaned to me. I had nothing to back that loan at the time, no security. Still he gave me. Today too, I am fine with borrowing, should need arise. The reason? I reckon, another person could use that money. But he has chosen to spare it for me, deferring his or her desires. Those desires will increase in price across a period. Say he was to buy a house, and its cost was 100000 dollars. But he chose to help me with 20000 dollars for 1 year. In an year's time the house may cost 110000. Therefore, my interest on that 20000 should be 10000. In other words, I have to reinstate him in the position he was, because that is what would be fair. Helping me should not put him in disadvantage. To ensure that becomes my duty. So I do feel, the lord did not mean it the way that sentence is taken. I don't know about you all, but i have borrowed from individuals, and repaid in time. I have never grudged the interest component at all. Tell me I am wrong. I mean, I just explained in detail, why payment of interest is fair and just. Could the lord wish otherwise? Or has the interpretation gone wrong?
9 people like this
8 responses
@Sreekala (32827)
• India
4 Feb
We also have loans,housing and for some other purposes. I lent money too which never comes back
2 people like this
@vandana7 (75844)
• India
4 Feb
Happened to me. Stopped loans. LOL. How are you Sreekala? Happy New Year. :)
2 people like this
@Sreekala (32827)
• India
5 Feb
@vandana7 I am feeling better dear, consult another doctor in a different hospital and it seems the treatment is working positively.
2 people like this
@vandana7 (75844)
• India
5 Feb
@Sreekala Good. Doctors are so inexperienced these days. I treated myself with homeopathy, looking into net. Problem gone! I used to suffer with tummy ache. I thought that was because of so much pickle I eat. I stopped pickles, but pain wouldn't go. So I checked the medications of homeo on net, and about 6 months he advised the medication. I am through four months. Already feeling immense relief. I even eat pickles now.
2 people like this
@DaddyEvil (29339)
• United States
21 Mar
Pretty and I do our best never to borrow money. If we do borrow, it is from a bank, never an individual. We always repay early to get out of paying extra interest on the loan. I never loan anyone money. If they need it badly and are friends, we always just give it to them. We never have to worry about them paying it back that way...
1 person likes this
@vandana7 (75844)
• India
21 Mar
That is a very good habit DE. Out here, it does not work that way. For many. Like there are some income criteria, i may be earning, but my employer may not qualify as regular employer. That is when I had to borrow for down payment.
1 person likes this
@DaddyEvil (29339)
• United States
21 Mar
@vandana7 That sounds kinda weird, vanny... I'm rarely asked where money I have comes from, as long as I have some.
1 person likes this
@vandana7 (75844)
• India
21 Mar
@DaddyEvil No. Here they do check where you are employed. If it is not a company that has PF and gratuity laws applicable to it, then the banker is not allowed to give loans. Trust me I was mad at this law. It forced me to save some and borrow some. Then I shifted to a job that entitled me to a loan, then I got a home loan, and repaid the borrowings. Yeah...that is how it worked in my case. I could have bought me a much better accommodation, had the bank rules have been different. All that went in interest payment. But the good news was, even though I did not have any asset, this person gave me money on higher interest rate. Usually, that does not happen. So I do not grudge paying him the interest, though I grudge bank rules. What is the guarantee I will continue working for the same company after availing the loan? What is the guarantee the company will not go in red and fail to pay my salaries? I couldn't convince. God knows it can be frustrating when some folks just follow internal rules.
1 person likes this
@peavey (16991)
• United States
3 Feb
We could get pretty deep on this subject. I know it works for some, but for me, the less debt I have, the better off I am. As far as lending, I feel that if I give someone money or anything else, it's more of a gift than a loan. That way, if they don't pay me back I haven't "lost" anything. It sounds like you've had some good experiences, but that doesn't hold true for all of us. I have loaned money that was never repaid. I don't hold a grudge because, like I said, I consider it a gift in my heart. I have borrowed money and had a hard time paying it back and I have borrowed money and paid it back earlier than needed. Every time, I have felt constrained because I had money in my bank account that wasn't mine until the debt is paid. See, if you borrow a thousand dollars, then no money at all is yours until that thousand dollars is paid back It isn't your money. That's the way I see it and I think that's the way the Lord meant it, for our own good, the way He means everything to be.
1 person likes this
@vandana7 (75844)
• India
4 Feb
So you see, we didn't sin when we borrowed. Or loaned. The lord did not mean it the way it is being interpreted now. I find it difficult to believe that people can come up without borrowing or repaying their obligation by lending back to the person from whom they borrowed.
1 person likes this
@peavey (16991)
• United States
4 Feb
@vandana7 that is strange reasoning, I agree. I think the real problem is when we make money our god and lend with the thought of making more money, or borrow so we can have "things" we don't really need. Money is a cruel master.
1 person likes this
@vandana7 (75844)
• India
4 Feb
@peavey Forget the monetary aspect. A person looks after your child, when there is emergency at your place, would you or not volunteer to look after hers during any of her emergencies? Would you compare, she only took care of my child for two days, why should I be taking care of hers for six days? There is no money here, but there is comparison of numbers. How far does the obligation go.
1 person likes this
@sol_cee (22884)
• Philippines
4 Feb
I wonder how those who borrowed money and never paid it back can sleep fitfully at night.
1 person likes this
@vandana7 (75844)
• India
4 Feb
And I wonder why there are no laws that swiftly punish such people, despite it being a universal problem. There is an instant removal of a tenant law in Virginia state (don't know which direction). There should be instant justice too for such cases. That way people will be more responsible.
1 person likes this
@sol_cee (22884)
• Philippines
4 Feb
@vandana7 When I lend money to someone, I’m also giving them my trust. If they break that trust, that’s their loss because I’d never trust them again. Worse than having a sentence is not being trusted at all and losing your credibility. You’re not inside a jail yeah but you lose people’s trust. IMO.
1 person likes this
@vandana7 (75844)
• India
4 Feb
@sol_cee That trust would be gone even if the person fails, and law collects it from the person and returns your money to you, right? So why not have something better. Especially in case of really gullible folks who can ill afford to lose that money.
1 person likes this
@DianneN (175584)
• United States
5 Feb
You are honest paying back borrowed money. Too bad there are those who don’t.
1 person likes this
@vandana7 (75844)
• India
5 Feb
Did you notice the rate of interest I mentioned? Among the poor, who do not have any assets, the rate of interest can be as high as 50 percent per annum. I had reasons to be grateful for receiving monies at that interest rate. Legally, 24 percent per annum is not considered extortion, while 36 percent per annum and above would be.
1 person likes this
@DianneN (175584)
• United States
5 Feb
@vandana7 They are very high. We don’t have mortgages or take out loans, so I don’t know much about interest rates.
@vandana7 (75844)
• India
6 Feb
@DianneN I thought so. The going rates here are rather high.
1 person likes this
@Sojourn (9721)
• India
3 Feb
I lent money but haven't borrowed ever.
1 person likes this
@vandana7 (75844)
• India
4 Feb
Were you lucky enough to receive it back or were you troubled for it?
1 person likes this
@Sojourn (9721)
• India
7 Feb
@vandana7 I lent it to a relative. I am not lucky to receive it still.
1 person likes this
@vandana7 (75844)
• India
8 Feb
@Sojourn Relatives are confirmed cheaters. I too had such experience.
1 person likes this
@wolfgirl569 (30434)
• Marion, Ohio
3 Feb
You are fair in your payback. Wish all people were.
1 person likes this
@vandana7 (75844)
• India
4 Feb
Not always. My cousin borrowed some monies from me long ago, and I badly needed it back to pay rent - he refused to return and he and his father physically abused me - even though I did not collect interest on it.
1 person likes this
@MALUSE (59693)
• Germany
3 Feb
I have to confess that this is a topic which doesn't bother me.
1 person likes this
@vandana7 (75844)
• India
4 Feb
Lucky you. But hypothetically, what would your stand be, is it wrong? The whole monetary world works on that principle for now.