Quote:
Originally Posted by captZEEbo
Everyone loves acting like OP is so stupid for doing this. What doesn't get reported in these threads is that 99.9% of the time, everything goes smoothly. It's good these threads are made, so it's harder for the scumbags to keep stealing. Sorry WCGRider, thanks for reporting.
That's why in developed countries the default rate on residential mortgages is between 5 and 10 percent - 99.9% of the time repayment of loans is not a problem.
Lending money is stupid unless you don't care to ever see again the money leant (e.g. a loan to your kid, staking your degenerate gambler friend), or you are capable of enforcing (legally or extralegally) whatever terms you impose for the return of the principal.
If you do care, and you can't enforce, you shouldn't have made the loan. That doesn't exculpate the jerk who doesn't pay you back, but it doesn't mean you weren't stupid also.