sahib
Well-known member
SSLtech said:
Keith, the mess we are in at the moment is greatly due to the greed of banking system than people's inability to pay. It is true that the general principle rules. You honour your debt. But unfortunately at this very moment I don't feel that way against the banks. I have been trying to get a business loan secured on my building. The building is completely paid off and there are no securities what so ever over it. And the amount I am looking for is twenty percent of the value of the building. But the both banks that I bank with say no. Yet you can walk into the same banks and come out with a personal loan unsecured. It is as crazy as that. Why? Because there is more money to be made from personal loans. They prey on people's weaknesses, as they know they can juggle people from one loan to another. At this very moment my feeling is that if you owe to individuals, such as in John's case or your suppliers, honour your debt until the last drop. But if you owe to the banks and can get away without paying, don't feel bad about it.
I can not agree more with John on documenting any money that you may loan to your friends and/or even family members. Experience is talking here.
but then isnt that part of the transitional process of becoming a responsible adult?? (if there are even any at all from my age group/generation :-[ )
