Have you ever taken out a loan?

English vocabulary used to talk about economics and business.
James Trotta
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Have you ever taken out a loan?

Post by James Trotta » Wed Sep 28, 2016 12:03 pm

Have you ever lent someone money? Have you ever borrowed money? If you don't have a personal story, please describe a movie or TV show where the main character lends or borrows money.

Please reply here to complete the assignment for http://eslgo.com/classes/lend-borrow.php

Here's a model that I wrote:

I had to borrow money to rent my first house in Korea. A lot of people in Korea pay no monthly rent – instead they put down a large deposit to rent. It's normal for the deposit to be about 50 percent of the home’s value. When you move out, you get all the deposit money back.

So our first rental was in Seoul and we had to put down a deposit of around $60,000. I think we borrowed about half that from my parents and the other half from my wife's parents. We have paid everyone back the money they lent us so we are now debt-free.


And here is another model that I wrote. Remember that you may describe a TV or movie scene if you want:

In the Korean TV show, My Love From the Star, one of the main characters is an alien. His best friend is a human. A long time ago, the alien was working in a bank (pretending to be human) when a man came in looking for a loan. He needed to borrow money to take care of his sick mother. The bank refused to lend him the money.

The man was so upset that the bank refused to lend him money that he tried to jump off the roof. The alien used his super powers to save the man. Then the alien decided to lend him the money personally. They became best friends.

Amyhernandez
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Re: Have you ever taken out a loan?

Post by Amyhernandez » Wed Sep 28, 2016 3:39 pm

I have a friend in my school that borrowed some money from a friend to pay his textbooks. He hasn't pay the the money back. Because the money he gets pay in his job is barely enough for him to pay his needs for suvirval. He is working hard to pay her friend. Although his friend says it's OK you don't have to pau me back this is what friends do. He is working full time and studying to pay her back.

gandaka
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Re: Have you ever taken out a loan?

Post by gandaka » Wed Sep 28, 2016 4:29 pm

Yes. When I was still a student I had a subject about Cooperative. In our class we have a secretary who takes in charge of the money. All students are asked to have an account and we deposited some little money in it. And then we are required to get a loan. It was okay if we don't get a loan but you can raise or grow your money more when you get a loan. So I did, like twice. After a month I then returned back the money I borrowed. And after the class semester ends our money was returned to us as well. It was just like a practice of how a cooperative works in real world. I hope my explanation is understandable. Thank you.

ken_p_init
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Re: Have you ever taken out a loan?

Post by ken_p_init » Wed Sep 28, 2016 6:48 pm

Way back when I was in my college my classmate borrowed me some money to pay for her remaining balance of tuition fee for her to be able to get our exam so I told her that I can lend her money but first I need to loan some on my bank.. And when I hand her the money she told me that she'll pay me back when her father's loan gets approved...

Khin Sandy
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Re: Have you ever taken out a loan?

Post by Khin Sandy » Thu Sep 29, 2016 3:18 am

It is my personal story. It was the difficult time for me. I need one lakh myanmar kyat urgently for my personal case. Being a clever girl to my family, I always provide all of my salary to them. That is why I need to borrow money from someone. That time I had got the good idea to get from my best friend from university. She is very simple and rich. I could face and solve this problem cause of my friend's help. After I used it to the place that I need to do so, I had to give back to my friend but I could pay for 3times separately. I feel very appreciate to my friend.

Shakema
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Re: Have you ever taken out a loan?

Post by Shakema » Fri Sep 30, 2016 4:15 am

Every summer my family plans a family getaway. This past summer they decided to visit New Orleans. When I became aware of the plans I did not wait to go because I visited New Orleans 2 years ago. Besides I did not want to spend unnecessary money. However, my brother was informed that I was not going on the trip. He called me and convinced me to accompany them on the trip by offering to buy my plane ticket. That was an offer I could not resist so I agreed to go. He said for me to book my flight using my credit card and he will reimburse me the money for the ticket. Once I arrive in New Orleans needless to say I paid for my own flight and he never mentioned our arrangements once we were on vacation.

Komella
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Re: Have you ever taken out a loan?

Post by Komella » Sat Oct 01, 2016 5:16 am

I had never taken a big loan, as my parents had always taught me not to borrow money except if I had to, and if I do I must return it as soon as I can .
I remember at school if it happens that I forgot to take money and I wanted to buy something to eat,I borrow from a close friend and give her back the money the following day.

I remember a few months ago,I went out with a friend of mine to have lunch in a restaurant, and I discovered that I forgot my purse,It was so embarrassing and I had to borrow money from her to pay for my order and extra money for me to go home in case something goes wrong.

In a way you're sometimes obliged to do something you don't like to do.
Another resent example, I discovered that my friends were collecting money to give as a charity to a worker who was hit by a car and she is still on recovery, my friends are in Egypt and I am now in U S,so I had to ask my friend to pay for me, but I won't be able to give her the money for a period of time till I go back to Egypt and pay her the loan.

jai15
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Re: Have you ever taken out a loan?

Post by jai15 » Sat Oct 01, 2016 3:37 pm

Hey James,
Nice to meet you again.
I have never taken a loan from bank or money lenders. And The important lesson, which has been taught by my father from my childhood, is “Don’t borrow money from the people who you like very much. Because the arrears can break a good relationship” I am still trying to follow his advice. sometimes the situation wins and make me to get a loan from others. But I have always paid pack the money as early as possible. For Instance when I was studying in college, I completely forgot to pay my exam fees until the due date. When my tutor asked me to pay with in the day, I did not have enough money to pay.so I borrow some money from my friend and I paid my fees. Even though I paid her money back immediately, considering the situation, her help was unforgettable. On the other hand If you think to lend some money to others, you may mind about some complications. For example, I lend some money to one of my acquaintances. He had behaved very well and maintained a good relationship with my family until I asked my money for my needs.After this incidence, she has not been speaking to us. Finally, I have got my money back but still we are unable to mend our broken relationship. So My advice is you should think twice before Borrowing or lending money from or to others and make your decision.

sarahm991
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Re: Have you ever taken out a loan?

Post by sarahm991 » Sun Oct 02, 2016 9:30 pm

For college I had to borrow money, so now I'm paying off student loans which I think is pretty normal for people my age. I didn't want to rely solely on my parents. They did lend me money sometimes but that was for major purchases, not day to day life - I paid for that by working a part time job und taking a student loan.
I don't mind lending small amounts of money to friends now who I trust with paying me back in the near future. Similarly, they trust me when I borrow money from them for small things like ice cream or a beer. They know I'll give it back within a week. But I guess there have been many friendships destroyed over money so I refrain from giving huge loans.

Tilove103
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Re: Have you ever taken out a loan?

Post by Tilove103 » Mon Oct 03, 2016 6:24 pm

A day, my best friend had need money to her scholarchip she ask me to help her find a loan because I didn't have it to lend her. My friend and I gone to a business office to ask if they can borrow us some money. The manager said , " the amoun you need me to lend is to much, you have to give 50% back I lend it to you".
That loan experience was awesome.

James Trotta
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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 1:51 am

I should borrow money from this friend who doesn't need to be paid back :D
Amyhernandez wrote:I have a friend in my school that borrowed some money from a friend to pay his textbooks. He hasn't pay the the money back. Because the money he gets pay in his job is barely enough for him to pay his needs for suvirval. He is working hard to pay her friend. Although his friend says it's OK you don't have to pau me back this is what friends do. He is working full time and studying to pay her back.
I have a friend in my school that borrowed some money from a friend to pay for his textbooks. He hasn't paid the the money back. Because the money he gets from his job is barely enough for him to survive. He is working hard to pay his friend. Although his friend says it's OK you don't have to pay me back this is what friends do. He is working full time and studying to pay her back.

James Trotta
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Posts: 1138
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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:09 am

Sounds like a good class :D
gandaka wrote:Yes. When I was still a student I had a subject about Cooperative. In our class we have a secretary who takes in charge of the money. All students are asked to have an account and we deposited some little money in it. And then we are required to get a loan. It was okay if we don't get a loan but you can raise or grow your money more when you get a loan. So I did, like twice. After a month I then returned back the money I borrowed. And after the class semester ends our money was returned to us as well. It was just like a practice of how a cooperative works in real world. I hope my explanation is understandable. Thank you.
Yes. When I was still a student I had a class about Cooperatives. In our class we had a secretary who was in charge of the money. All students were asked to have an account and we deposited a little money in it. And then we were required to get a loan. It was okay if we didn't get a loan but you can earn more money when you get a loan. So I did, like twice. After a month I then returned back the money I borrowed. And after the semester ended our money was returned to us as well. It was just like practicing how a cooperative works in the real world. I hope my explanation is understandable.

I am a little confused - if you were required to take out a loan, then how was it OK if you didn't get a loan?

James Trotta
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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:11 am

Did her father's loan get approved :lol:
ken_p_init wrote:Way back when I was in my college my classmate borrowed me some money to pay for her remaining balance of tuition fee for her to be able to get our exam so I told her that I can lend her money but first I need to loan some on my bank.. And when I hand her the money she told me that she'll pay me back when her father's loan gets approved...
Way back when I was in my college my classmate borrowed some money from me to pay for her tuition so she could take exams. So I told her that I could lend her money but first I need to borrow some from my bank.. And when I handed her the money she told me that she'll pay me back when her father's loan gets approved...

James Trotta
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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:22 am

Good friend :D
Khin Sandy wrote:It is my personal story. It was the difficult time for me. I need one lakh myanmar kyat urgently for my personal case. Being a clever girl to my family, I always provide all of my salary to them. That is why I need to borrow money from someone. That time I had got the good idea to get from my best friend from university. She is very simple and rich. I could face and solve this problem cause of my friend's help. After I used it to the place that I need to do so, I had to give back to my friend but I could pay for 3times separately. I feel very appreciate to my friend.

It is my personal story. It was a difficult time for me. I needed one lakh myanmar kyat urgently for personal reasons. Being a kind girl to my family, I always provided all of my salary to them. That is why I needed to borrow money from someone. That time I had the good idea to get a loan from my best friend from university. She is very simple and rich. I could face and solve this problem cause of my friend's help. After I used it to do what I needed to do, I had to give the money back to my friend but I had to pay in 3 installments. I feel very appreciate to my friend

James Trotta
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Posts: 1138
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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:25 am

I still like this story :D
Shakema wrote:Every summer my family plans a family getaway. This past summer they decided to visit New Orleans. When I became aware of the plans I did not wait to go because I visited New Orleans 2 years ago. Besides I did not want to spend unnecessary money. However, my brother was informed that I was not going on the trip. He called me and convinced me to accompany them on the trip by offering to buy my plane ticket. That was an offer I could not resist so I agreed to go. He said for me to book my flight using my credit card and he will reimburse me the money for the ticket. Once I arrive in New Orleans needless to say I paid for my own flight and he never mentioned our arrangements once we were on vacation.
Every summer my family plans a family getaway. This past summer they decided to visit New Orleans. When I became aware of the plans I did not want to go because I had visited New Orleans 2 years ago. Besides I did not want to spend unnecessary money. However, my brother was informed that I was not going on the trip. He called me and convinced me to accompany them on the trip by offering to buy my plane ticket. That was an offer I could not resist so I agreed to go. He said for me to book my flight using my credit card and he will reimburse me the money for the ticket. Once I arrived in New Orleans needless to say I paid for my own flight and he never mentioned our arrangements once we were on vacation.

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