1 Money lending on Sat Apr 09, 2011 8:59 am
2 Re: Money lending on Sat Apr 09, 2011 9:43 am
you can report her to the bsp is you can provide proof of her money lending business.
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3 Where is your conscience? on Tue Nov 01, 2011 3:08 am
camiguin_48 wrote:A public school teacher is into money lending. I loaned money from her at five percent per month. The loaned amount was Ten thousand pesos and the amount accumulated to more than thirty five thousand pesos. Is it legal for a public school teacher to enter intomoney lending?
For me, in my opinion even a Saint can be a lender. Why are you questioning about her profession? After you used her money for some personal reason? Didn't you think that she also need that money but gave it to you because she thinks that you need it more?
You mentioned that you borrowed 10k and became 35k but you didn't mentioned the time frame. Considering the 5% interest and assuming it is not compounded, you borrowed that money for four years now. We have so called "Inflation" where money decrease value over time and as of today it is 7% per year.
I don't have any relation with the teacher nor with you but hopefully this will open your heart.
4 Re: Money lending on Tue Nov 01, 2011 4:45 pm
5 Re: Money lending Today at 8:45 pm
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