What's The Most Money You've Owed Someone?

[cigsthecat]

The thing I don't like about lending money is that you never get it back in one big satisfying payment. It's a little here, a paid bill there and it never really feels like you're repaid even if you are.

That said, I think the best way is to either assume you'll never get it back (and be fine with that) or just not lend the money.

[Some Stupid Japanese Name]

LOL. I've said the same thing. Dude borrowed $500. Paid it back in installments of $20 over many months. I still don't feel like I got paid back.

[cigsthecat]

2) You said yourself you set the restaurant up with dead grandma money. Not everyone can be blessed with well to do grandmas to help set them up.

That may be true, but it's also probably just about the best thing to be done with Dead Grandma money. He's achieving a life goal and doing something he's actually passionate about and good at.

[Some Stupid Japanese Name]

I'm not saying it's not. I'm just saying it's a lot easier to look down on credit when you aren't in a position where you need it.

[cigsthecat]

Most people don't need credit. Most people also make poor decisions that make them feel like they require it.

[Rich]

Most people don't need credit. Most people also make poor decisions that make them feel like they require it.

Not so crazy thought: Credit can be used responsibly.

[Some Stupid Japanese Name]

If you want to set up a store or restaurant, you're going to need a fat purse or credit.
I'm not talking about assholes who make $20,000 a year and max out $50,000 worth of credit cards because they need to keep up with the Jones'.

[Rated E]

Haven't had to borrow money yet, and I probably wont if I can avoid it. I don't like people being able to hold things over me.

I do hope I have enough money one day so that I can be a safety net for my family, though. Sometimes shit happens like you need to see a doctor right away, but rent is due, and the car broke down, etc. I'd be happy to help out in those situations, but no paybacks because it would be ~ out of love. ~

[Some Stupid Japanese Name]

There was a kid I knew who wanted to borrow some money, but he had a kick ass Sailor Moon collection so I told him to sell that instead and he did and we had coke and whores.

[Razor Ramon]

Saying you don't need credit is pretty fucking stupid. It's one thing if you said you don't need credit to buy frivolous shit, which I agree even though I do splurge from time to time (hello case of beer!), but for a business not to have credit you must have some serious financials backing it up. You WILL eventually need credit whether it be to pay workers, to fix something, to buy extra food you didn't budget for, etc. You will drown in sorrow if you don't use banks wisely to make a living for yourself if you decide to own a business.

Those who I know who don't have credit always struggle to pay off an emergency bill or unexpected expenses due to moving, new job so paycheck lapses, small repairs to whatever, etc. It's just annoying to have people like that ask for cash when I can just as easily say, "Get a credit card." It's helped me out of some serious jams.