7 Types Of Borrowers You Don’t Want To Encounter2 min read
The latest Manulife Investor Sentiment Index survey projected that a significant portion of the populationâ€”most of them millennialsâ€”are at risk of being debt-strapped. But as they say, â€œYou need money to make moneyâ€â€”and thatâ€™s when you can classify debt as good.
In a perfect world, people would be able get away with debt and say â€œT.Y. na langâ€ to their lenders. But this is the real world, and many debtors, especially business owners, resort to debt settlement negotiations or filing for bankruptcy to clean their slates. On the other hand, lenders are also burdened by scheming people who run away from their dues.
Below are seven different kinds of borrowersâ€”pretty sure youâ€™ve encountered at least one of them in your life.
Times are tough, and for this perennial victim of unwanted circumstances, the bad times never end. Retrenchment, natural calamities, medical emergencies, fire, robbery–name it, he’s been through it.Â But are they real? In his imaginary world, everything is.
The Shameless Showoff
Always “short”Â on cash, but do a quick check on her Instagram account and…wait, is that a brand-new Louis VuittonÂ Montaigne MM? Is that a new car she’s driving?Â And, a new iPhone 7 Plus she can’t use toÂ respond to your calls?
Will hold off payment for as long as they can. The Chillaxer pays a convenient amount atÂ his most convenient time. Due date? They don’t have that in their vocabulary. They’ll only comply onceÂ the bank and/or their friends start rattling their cage with a flurry of SMS messages and calls.
TheÂ Serial Loaner
He’s the ultimate credit con artist. Heâ€™s been on the blacklist of almost all banks and lending institutions since time immemorial.Â HisÂ sky-high credit records, however, don’t bother him a bit. They’re what the neighborhood miron usually calls “estafador.”
The Ninja. The magician.Â The â€œtago nang tagoâ€ andÂ â€œalways cannot be reachedâ€ type. He’s probably blocked you on Facebook and responds â€œwhoÂ you?â€ to you on text, if at all. He’s that good that he has even tagged his housemates and relatives as accomplices: “Wala ho siya.” No one in this world knows where he is. Not even him.
AÂ certified Gen Y. Because of their YOLO-FOMO (you only live once; fear of missing out) practices, they’re always the first ones toÂ book airline tickets and concert tickets.Â One thing’s for sure: theirÂ credit card debts are piling and it’s much longer than theirÂ bucket list.
The Denial King/Queen
Call itÂ selective amnesiaÂ or limited memory, the curious case they have.Â Their favorite line? â€œHoy, binayaran na kita last month!â€Â They’re so good, it’s you whoÂ always gets confused in the end:Â “Sure ka? Ay, oo nga!” But the actual payment? Never happened.