As a warning today, another story that wrote life.
It concerns good neighborly help, consisting in taking loans and credits for oneself.
A lady, let’s call her X, indebted, in trouble with BIK, BIG, tried to arrange a consolidation loan that would give her a chance to get out of financial difficulties by extending the loan period and reducing installments.
How can you avoid bad financial decisions?
Unfortunately, no bank wanted to grant her this loan. In one of the credit bureaus, its owner suggested that Ms X look for another person who would take credit for her.
Thanks to them, she would pay off her debts, clean up bank records, and after having a clean account, she could apply for a new loan, paying off the person who would give the favor.
The choice fell on Mrs. Y, who at first did not want to agree to this, but finally gave in, accepting a written commitment of Mrs. X that she would refund her entire loan amount within 3 months.
Due to quite high income, we managed to get two loans, which after deducting commission and insurance, constituted the amount of over 50 thousand usd.
With this money, it would be enough to pay off your obligations.
Due to the greed of the owner of the credit bureau
This amount dropped by almost 12 thousand usd. So it was not possible to close Ms X’s loans, thus the situation in the banking bases was not sorted out. Mrs. X is still paying off her loans, now she has more, those that Mrs. Y took for her. The difficult financial situation has not improved.
For some time, Ms. X has stopped paying off loans on Ms. Y, which is causing her trouble. Banks call her, most likely the contracts will be terminated and a bailiff’s execution may take place. Then Mrs. Y, who also repays her loans, will face the threat of insolvency.
There are many such difficult situations in Poland
Many of them arose as a result of the unethical operation of the Financial Intermediation Bureaus, which could be found in television programs / even “Intervention”
Situations I am writing about could be avoided if people taking credit for someone showed prudence and wisdom and did not agree to such operations.
Most of these people are elderly people in retirement who got to know life from different angles and were so approached.
The Most Important Life Guide, which is the Holy Bible, may not talk about taking credit for someone, while,
answers those who seek advice and answer the question whether it is possible to engage / guarantee someone.
I think quotes can be related to both guaranteeing and taking credit for someone.