Money matters
By shobhan51
@shobhan51 (376)
Malaysia
October 28, 2009 8:13am CST
This is a case where two persons borrowed money from a third party. The money borrowed from the third party happens to be that person's retirement benefits. Both borrowers borrowed equal amounts of a substantial amount, with the promise that they will return monthly interest on the sum borrowed. One of the borrowers happened to be a very close relative, while the other was a very intimate family friend. But along the way there was breach of promise on the part of both borrowers. Now, the relative is due to withdraw a third of his retirement benefit. The third party who lent the relative money knows that there would be others who will be equally interested in the money that the relative is going to withdraw because he owes others as well. Should the third party claim some of the money he lent or keep quiet with the hope that someday the money borrowed would be returned by the relative? What if the third party asks for some of the money? Would there be strain in the relationship?
2 responses
@vijayanths (7877)
• India
28 Oct 09
Hi, shobhan, you have not mentioned whether the loan was given with some kind of security? or by mere trust? If the third has lent the money against check, then the third party has reasonable chances to get back his principal at least.I personally feel that it is not worth to lend like this, that too your retirement benefits.
@shobhan51 (376)
• Malaysia
29 Oct 09
Where the relative is concerned it was based on trust. But where the friend is concerned there was an agreement. Yes, I too feel it was not worth the effort and the thought. But, relations being relations, one tends to feel obliged to help work out things in times of need.
@shobhan51 (376)
• Malaysia
29 Oct 09
Vijayanths, thanks for your concern. Hope to see your comments and your lovely picture every time you are online commenting.
@starlight70 (316)
• Malaysia
28 Oct 09
I just recovered from a bad decision that I had made. Because I was expected to help my sister-in-law when my brother passed away, I lent her money and helped her to pay for loan installment for a house so that she could live there with her children. She was alright at first. And then she met this guy. The guy helped her to borrow more money for a business that was not working well. At the end, she had to run away as she was owing too much, leaving my mother and me to clear her debts and to take care of her children. Since then, I had stopped acknowledging that she was a relative and preferred to think that she no longer exists.
Money? There is no way for me to see the money returned. It was a mess.
@shobhan51 (376)
• Malaysia
29 Oct 09
Starlight, sorry to hear about your situation. I always remind myself that all good deeds are repaid in heaven. God is watching over us. I would like to relate my own experience.
When I was schooling and moving into tertiary education, my younger brother realising that my loving father needed help to finance me, decided to put aside his own chances of a college education opened to him, to work out something for me. Well when I completed my education, and he needed help, I returned the favour by paying for his wife and family's stay until he completed his education. God however had better plans for him today. His son has been offered a full scholarship to study chemical engineering with Nottingham University. He has two other children who need help as well. So you see, he need not worry over one child's future for God has taken care of it.
Thanks for your comment
