Credit worthiness for relatives
I wish there was some system which could add logic behind financially helping a relative. Like a bank won’t loan u if ur credit score is bad… And this system should be so integrated that the borrower doesn’t feel bad about it. Bcoz I really feel bad that if some relative has made certain decisions in his life due to which they have to face the consequences… They should only expect help from others where they have had good borrower/lender relationship. I don’t mean we use this system in case of medical emergency… But I feel bad that someone else’s life has to degrade just bcoz of emotions and bondage.
So I wish relatives would build good credit history among others in good times. By which it’ll be justified to seek help in bad times.
How do you guys handle braking in financially helping out a relative without burning bridge? Bcoz again, in ur bad time this relative can support u. But u never know if a good time is gonna come back for that relative.
Just sharing my unstructured thought. And I am sure this problem is common.
Help relatives if you can. Don't expect money to be returned back.
Ya this is a big problem. So just a wish if someone could solve it. Bigger problem is relative expecting help even if the counter party can’t help that much. Bcoz that relative helped out a lot in their good times and they had that much capacity to do it. It’s like a politician asking for 1 CR from 20 lpa salaried relative, bcoz politician helped out relative in “good will” in his good time
I help as much as I can afford to lose. Even if it is returned after 5 years the value of money is gone. Anything more, it is better to break the relationship by not giving money than not receiving money
Help and be ready to loose money as well as the relationship.
All relatives are snakes. Don’t expect any money lend to be returned. So best thing to do when meeting relatives is pretend to be broke, I literally wear the cheapest clothes and shoes when I go to meet them. I have instructed same to my parents and try to ensure. If anyone asks for money, start crying about being in debt. Bhaad mein jaye rishtedaar, nobody comes to help when you need it they only take
