Mortgage And Loan Info News

Thursday, November 10, 2005

Little Unpaid Loans

Do you have unpaid loans?

Please don't answer too quickly... think again. A loan is a loan is a loan. If you borrowed money from someone and promised to repay it sometime in the future. Did you pay it back?

Well, maybe, you did when you signed a loan agreement or contract. But how about those little loans that you borrowed from a family member or a friend that you didn't have to sign for, did you pay them back? Hmmm...

A loan agreement or contract shouldn't be required for you to pay them back. Some may not even approach you to get their money back. But it's your responsibility to make sure that they get paid back.

If your word was good enough for them to lend you money, then you should back up your word by paying them back. Your credibility is at stake.

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