by dave1234 » Sat Jun 18, 2022 8:07 pm
ផោមក្លិនស្អុយ wrote: ↑Sat Jun 18, 2022 6:46 pm
Dave1234 wrote: ↑Sat Jun 18, 2022 5:54 pm
I've had several loans over the past 10 years or so, mostly through MFIs and perhaps Acleda. I paid very little metaphorical interest, but quite a lot of actual compound interest.
It was that 49% blah blah, and did nothing to my recognition beond a thumbprint and paying. Luckily some of the land bought on a loan became very valuable and paid off most of the other debts, but there were a few boring months of eating rice and dried fish.
Personally I wouldn't recommend getting into any debt unless you can run away from it (which is why nobody will lend to you/us), and also see the bubble bursting on real estae bursting in the next few months to few years, so won't take that risk these days.
What the hell isC’?
TBH I struggle to believe a report where the writer isn’t sure where they got the loan from.
‘Perhaps Acleda’, eh? Did you perhaps just make this up? Or was the loan perhaps in someone else’s name?
Access to credit is a fundamental building block for development of society. It’s one reason why many expats are at a disadvantage to locals. A ‘wealthy’ expat without access to credit can’t afford to buy a house, but a ‘poor’ local can get credit and buy, then rent it out to the expat. Making the local richer and the expat poorer.
Responsible borrowing is a very positive thing on the other hand irresponsible borrowing or lending wreaks havoc for the whole economy.
Metophorical interest- giving a fuck where the money came from.
Probably Acleda, as they were the government lenders, It was a joint loan, with a local as the main name guarantor with 49/51 collateral on a hard title.
The loan was short term, and a long time (many years ago) and was used for a buy and flip deal on some real estate.
[quote=ផោមក្លិនស្អុយ post_id=1048437 time=1655552769 user_id=42429]
[quote=Dave1234 post_id=1048431 time=1655549660]
I've had several loans over the past 10 years or so, mostly through MFIs and perhaps Acleda. I paid very little metaphorical interest, but quite a lot of actual compound interest.
It was that 49% blah blah, and did nothing to my recognition beond a thumbprint and paying. Luckily some of the land bought on a loan became very valuable and paid off most of the other debts, but there were a few boring months of eating rice and dried fish.
Personally I wouldn't recommend getting into any debt unless you can run away from it (which is why nobody will lend to you/us), and also see the bubble bursting on real estae bursting in the next few months to few years, so won't take that risk these days.
[/quote]
What the hell isC’?
TBH I struggle to believe a report where the writer isn’t sure where they got the loan from.
‘Perhaps Acleda’, eh? Did you perhaps just make this up? Or was the loan perhaps in someone else’s name?
Access to credit is a fundamental building block for development of society. It’s one reason why many expats are at a disadvantage to locals. A ‘wealthy’ expat without access to credit can’t afford to buy a house, but a ‘poor’ local can get credit and buy, then rent it out to the expat. Making the local richer and the expat poorer.
Responsible borrowing is a very positive thing on the other hand irresponsible borrowing or lending wreaks havoc for the whole economy.
[/quote]
Metophorical interest- giving a fuck where the money came from.
Probably Acleda, as they were the government lenders, It was a joint loan, with a local as the main name guarantor with 49/51 collateral on a hard title.
The loan was short term, and a long time (many years ago) and was used for a buy and flip deal on some real estate.