Hey Everyone, I hope you are all fine and doing great. This Post is my entry to Weekly Featured Content in the #Hivelearners community. Today's topic to write about is The Bad Loan
The image Was created By Gencraft and edited by me on Photoshop
I would like to start this post with a very good quote from Ogden Nash
I have one such experience which started as fun and now I have debt on my head and I still haven't paid it. It all started 3 years ago when I was earning quite a handsome amount of money, and thankfully I have saved a lot of it and from my savings I have bought a house, car & some gold to be used for my future marriage.
around 2 years ago, when my engagement was fixed, my uncle who is a goldsmith asked me, how much Gold I wanted to use in my marriage. I told him 10 Tollas. I had entrusted my gold to one of my friends, I took it from my friend and hand over to my uncle.
I asked my uncle, that, I had only this and I didn't want any increase in the quantity of Gold. he said, there will be a minimum increase as the jewellery-making process is complex and you can't predict how much Gold to be used while making jewellery.
After a few months of my marriage, I asked my uncle, how much gold was on me, which I needed to pay him to balance the equation. he told me it was about 8 Grams of Gold. I was shocked, because I never ever thought to pay this much of an amount, but there was nothing I could do because the increased Gold was in jewellery form and it was handed over to my wife.
I told my uncle, I will pay you the money after some time. The circumstances are not constant; as life progressed, difficulties increased. There was a time when I was earning millions, Now my earnings decreased, and I never thought that so much change would occur so quickly.
Now it has become hard even to fulfil the day-to-day expenses. The inflation in my country has increased a lot and the price of the basic need item has gone 4x. this loan is like a burden on me and I feel ashamed whenever I meet him, he never asked for it, but something makes me feel bad about it.
The image Was created By Gencraft
I am very hopeful that this bull run will play out well and that I will be able to pay this debt as soon as possible. I am not the kind of person who can live with debt to be paid. I have always kept it my priority to return the loan as soon as possible, but this time I failed and it hurts me.
I have learned a lesson from this and I will never take a loan from anyone now.
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Posted Using InLeo Alpha
Posted Using InLeo Alpha
Loans are such a painful experience for me so I have decided neither to take loans nor give loans am done with loans in it's entirety as I heard some thing like this "Qarz Nai Tau Farz Nai".
I agree with you on the fact that a loan is a burden something that makes you restless, something that troubles your mind every day. I hope this bull run happens soon so you get to pay your uncle back the debt owed, one luck you had was the fact that he is family if it was an outsider damn a lot would have happened.
Hello there, Itwithsm. I understand that you had to borrow that amount of Gold because you needed it for marriage, however, with what I’ve hear and read, it is not a good idea to take loans if you’re not certain you’ll be able to pay back at the stipulated time. I’m sorry about everything and I hope this Bull run pans out well for you.
I hope you will be able to pay your loan as soon as possible, as we are moving towards the bull market.
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