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February 15, 2025 at 3:59 am

People should be cautious while lending money. This man may probably flee the city or worse case scenario hurt himself when cornered and the lenders may get in legal trouble.

Please learn money management skills, you don’t lend a large chunk of money to an individual just that you can earn handsome interest.

Think for a second why would he take loan from friends and acquaintances for exorbitant interest rates while the financial institutions lend at a lesser rate – suggests he has no assets to mortgage or a good credit score. Please be mindful.

Our legal system is not built for individuals to recover money when the borrower defaults, different for institutions. Harsh truth. There’s not much you could do legally to recover. Best of luck.

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