Comments on: Creditors Have Better Memories Than Debtors

By: Four Pillars

Four Pillars — Wed, 02 Jul 2008 02:11:22 +0000

Wow, how much did you lend?

If I lent someone money and expected it back, I couldn’t possibly not say anything.

Mike

By: Weekly Roundup: The ER Edition | Frugal Dad

Weekly Roundup: The ER Edition | Frugal Dad — Sat, 21 Jun 2008 15:24:45 +0000

[...] Wisdom Journal reminds us that Creditors Have Better Memories than Debtors. I’ve been on both sides of the lending fence, and he’s [...]

By: Ron

Ron — Wed, 18 Jun 2008 03:45:45 +0000

#Natural→ You got that right. I borrowed money from a roommate when I was in college and it bothered me for a long long time. It was only $150 but I was unable to pay him back for 2 years. When I did, I sent him the money plus compounded interest and a sincere thank you note. But you know, things never were the same.

By: Natural

Natural — Wed, 18 Jun 2008 00:10:54 +0000

nope. i don’t lend money anymore and if i worry about getting something back then i probably shouldn’t have lent it.

lending money can destroy relationships.

By: Momma @ Tales From The Road Less Traveled

Momma @ Tales From The Road Less Traveled — Tue, 17 Jun 2008 14:39:22 +0000

I’ve most definitely been coerced, hijacked, guilted into lending money to people I knew wouldn’t pay it back. But that was back in the days before I realized that nobody had a right to expect my money to go to support their refusal to be financially responsible. I spent a lot of time carrying around anger and disenchantment with all of those situations.

Once I realized that the only person I’m accountable to for financial support is myself (meaning my household), it became far easier for me to determine where to lend or give my money and where not to send money down the drain. It’s not an easy lesson to learn.

By: Ron

Ron — Tue, 17 Jun 2008 11:22:16 +0000

#fathersez→
LOL! Either way, the loan may go bad. At least she could be entertained with the stories!
But you’re right. It all boils down to basic integrity. Unfortunately, there seems to be a growing segment of the population that thinks “the bank has plenty of money and it won’t hurt them if I don’t repay this loan.”

By: fathersez

fathersez — Tue, 17 Jun 2008 08:17:38 +0000

I think this has something to do with basic integrity as well.
A bank officer told me once that she would much rather see a debtor come up with all kinds of stories to try to convince her that the loan would be repaid, than those that try to avoid her.
Loans can and will go bad for many reasons. What must not go bad is the borrower’s attempts to make good.