Have you ever taken out a loan?

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

Post by James Trotta » Tue Oct 04, 2016 2:29 am

I can't even count how many times I have left my wallet at home :oops:
Komella wrote: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.
I have 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 I happened to forget my money and I wanted to buy something to eat, I would 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 went wrong.


:arrow: I changed your first sentence from past perfect to present perfect because it sounds like you still have not taken out a big loan. Is that right? If you say you had never taken out a big loan, it means that at some point in the past you did take out a big loan.

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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:35 am

Hello :D
jai15 wrote: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.
I have never taken a loan from a 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 it can break a good relationship” I am still trying to follow his advice. sometimes the situation wins and makes 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 borrowed 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 plan to lend some money to others, you should be mindful about some complications. For example, I lent some money to one of my acquaintances. He had behaved very well and maintained a good relationship with my family until I asked for my money for my needs. After this incident, she :?: he or she :?: has not been speaking to us. Finally, I got my money back but still we are unable to mend our broken relationship. So My advice is you should think twice before Borrowing from or lending money to others.

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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:39 am

Student loans in America are out of control :(
sarahm991 wrote: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.
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 out a student loan.

I don't mind lending small amounts of money to friends who I trust to pay 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.


Good idea :!:

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Re: Have you ever taken out a loan?

Post by James Trotta » Tue Oct 04, 2016 2:42 am

Hello :D
Tilove103 wrote: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.
One day, my best friend who needed money for her tuition :?: she ask me to help her find a loan because I didn't have it to lend her. My friend and I went to a business office to ask if they could lend us some money. The manager said , "the amount you need me to lend is too much, you have to give 50% back if I lend it to you".
That loan experience was awesome

:?: So you only had to pay back half the loan? I want to borrow money there :!:

:arrow: I changed your first sentence because you shouldn't need money for a scholarship (you get money from a scholarship)

Hu-XMU-Econ
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Re: Have you ever taken out a loan?

Post by Hu-XMU-Econ » Wed Oct 05, 2016 8:48 am

Short Answer: Only rather small loans for education, and I have paid them back as quickly as I could.

I am sure different people think different things when they hear the word "loan." Many young people think about the money they borrowed (or their parents borrowed!) for their university education. And many of those students worry about paying off those loans. It could take many years!

But credit card debt is also a kind of borrowing. And for many Americans, it's a loan that never gets paid off. But this fact does not bother everyone. Another student once said to me (in his brand new car), "I will always be in debt. So, why not live as large as debt will let me?" I am still not sure what to make of that. It does not feel right to me. And yet, even my basic knowledge of Economics tells me that modern economies could not run without debt - all kinds of debt.

Well, for my own peace of mind, I want to keep my debts very low. It just makes me too nervous, too stressed to always be worrying about loan payments. How do you feel about that?

Hu

gandaka
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Re: Have you ever taken out a loan?

Post by gandaka » Wed Oct 05, 2016 3:23 pm

James Trotta wrote: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?
Hi James, sorry for your confusion. Maybe I was wrong with the required word that I used. Lol. Remembered a little that our teacher said if you want your money to grow, then you have to take out a loan. If not, it's just ok and up to you.

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Re: Have you ever taken out a loan?

Post by Truongc » Thu Oct 06, 2016 3:09 am

Yes, i did borrow a school loan about $6,000 totally. I did not work and i had a kid who needed to.go daycare when i was in school. I tried to borrow as small amount of money as i could, because i did not want too much debt in my credit card. The school loan let me lent $1500 each semester. After i got a job, i made a monthly pay ment and paid back to the bank. I just paid off my loan last year. Now, i am going back to school which is private one, i don't know maybe i have to borrow another loan again soon. Besides, my aunt lent me $ 2,000 when i needed the money to buy a car. The money that i borrowed from my aunt, she let me paid back every 6 months within two years. Finnaly, i did paid off her loan too. I don't like to borrow money from bank or somebody. Because i know when a bank lent us a money, we have to pay them interested monthly.

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Re: Have you ever taken out a loan?

Post by Truongc » Thu Oct 06, 2016 6:00 pm

My first loan was a home loan when I bought a house in Milwaukee. We had to deposit $ 5,000 cash. I remember that I did not have enough cash to bring to the table for the closing date. I did not work, and we had a child, she needed to go a daycare when I was going to school. I borrowed the $ 3000 from my parent-in-laws so that we could buy the house. They let us lent the money and we did pay them back monthly for couple years. We could not borrow the money from anybody by my sides. My husbands and I learned a lesson from that day. We were better to save some money in our account just in case something may happen so that we do not need to borrow from somebody. The bank let us lent a loan for a long term payment. We still are not pay off yet. It will take a long time, I think. I do not want to borrow any kind of loan. It is stressful with working continuously. My husband said to me, " if you do not have a loan, you are not living in America," I do not agree with his opinion, but at least he does not borrow any loan or let anybody lent money as he used to be.

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Re: Have you ever taken out a loan?

Post by James Trotta » Tue May 30, 2017 4:08 pm

Good job on the grammar. Yes, I also try to minimize my debt. I always pay my credit card bill every month because the interest is so high.
Hu-XMU-Econ wrote:
Wed Oct 05, 2016 8:48 am
Short Answer: Only rather small loans for education, and I have paid them back as quickly as I could.

I am sure different people think different things when they hear the word "loan." Many young people think about the money they borrowed (or their parents borrowed!) for their university education. And many of those students worry about paying off those loans. It could take many years!

But credit card debt is also a kind of borrowing. And for many Americans, it's a loan that never gets paid off. But this fact does not bother everyone. Another student once said to me (in his brand new car), "I will always be in debt. So, why not live as large as debt will let me?" I am still not sure what to make of that. It does not feel right to me. And yet, even my basic knowledge of Economics tells me that modern economies could not run without debt - all kinds of debt.

Well, for my own peace of mind, I want to keep my debts very low. It just makes me too nervous, too stressed to always be worrying about loan payments. How do you feel about that?

Hu

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Re: Have you ever taken out a loan?

Post by James Trotta » Tue May 30, 2017 4:17 pm

Good job paying off your loans :!:
Truongc wrote:
Thu Oct 06, 2016 3:09 am
Yes, i did borrow a school loan about $6,000 totally. I did not work and i had a kid who needed to.go daycare when i was in school. I tried to borrow as small amount of money as i could, because i did not want too much debt in my credit card. The school loan let me lent $1500 each semester. After i got a job, i made a monthly pay ment and paid back to the bank. I just paid off my loan last year. Now, i am going back to school which is private one, i don't know maybe i have to borrow another loan again soon. Besides, my aunt lent me $ 2,000 when i needed the money to buy a car. The money that i borrowed from my aunt, she let me paid back every 6 months within two years. Finnaly, i did paid off her loan too. I don't like to borrow money from bank or somebody. Because i know when a bank lent us a money, we have to pay them interested monthly.
Yes, i did borrow a loan student about $6,000 total. I did not work and i had a kid who needed to go to daycare when i was in school. I tried to borrow as small amount of money as i could, because i did not want too much debt on my credit card. The school loan let me borrow $1500 each semester. After i got a job, i made monthly payments and paid back the bank. I just paid off my loan last year. :ugeek: Now, i am going back to school which is a private one, i don't know maybe i have to borrow another loan again soon. Besides, my aunt lent me $ 2,000 when i needed the money to buy a car. The money that i borrowed from my aunt, she let me pay back every 6 months within two years. Finally, i did pay off her loan too. I don't like to borrow money from the bank or anybody. Because i know when a bank lends us a money, we have to pay them interest monthly.

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Re: Have you ever taken out a loan?

Post by James Trotta » Tue May 30, 2017 4:22 pm

Hi again :D
Truongc wrote:
Thu Oct 06, 2016 6:00 pm
My first loan was a home loan when I bought a house in Milwaukee. We had to deposit $ 5,000 cash. I remember that I did not have enough cash to bring to the table for the closing date. I did not work, and we had a child, she needed to go a daycare when I was going to school. I borrowed the $ 3000 from my parent-in-laws so that we could buy the house. They let us lent the money and we did pay them back monthly for couple years. We could not borrow the money from anybody by my sides. My husbands and I learned a lesson from that day. We were better to save some money in our account just in case something may happen so that we do not need to borrow from somebody. The bank let us lent a loan for a long term payment. We still are not pay off yet. It will take a long time, I think. I do not want to borrow any kind of loan. It is stressful with working continuously. My husband said to me, " if you do not have a loan, you are not living in America," I do not agree with his opinion, but at least he does not borrow any loan or let anybody lent money as he used to be.
My first loan was a home loan when I bought a house in Milwaukee. We had to deposit $ 5,000 cash. I remember that I did not have enough cash to bring to the table for the closing date. I did not work, and we had a child, she needed to go a daycare when I was going to school. I borrowed the $ 3000 from my parent-in-laws so that we could buy the house. They let us borrow the money and we did pay them back monthly for a couple years. We could not borrow the money from anybody by my sides. My husbands and I learned a lesson from that day. We were better off saving some money in our account just in case something may happen so that we do not need to borrow from somebody. The bank let us a take out a loan for a long term payment. We still have not paid it off yet. It will take a long time, I think. I do not want to take out any kind of loan. It is stressful with working continuously. My husband said to me, " if you do not have a loan, you are not living in America," I do not agree with his opinion, but at least he does not borrow any more money or lend anybody money like he used to.

yoly
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Re: Have you ever taken out a loan?

Post by yoly » Mon Jun 05, 2017 10:09 am

Yes, I did. when I move to his country 17 years ago, I didn't have any credit history, facing a need for a car went over a dealership they explain to me that my credit was poor and my only option was lent some money. My father-in-law lent us two thousand dollars for a deposit and also the leadership gives us a loan to complete the value of the car. I made monthly payments and pay all off.

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Re: Have you ever taken out a loan?

Post by James Trotta » Mon Jun 05, 2017 12:04 pm

Good to see you again :D
yoly wrote:
Mon Jun 05, 2017 10:09 am
Yes, I did. when I move to his country 17 years ago, I didn't have any credit history, facing a need for a car went over a dealership they explain to me that my credit was poor and my only option was lent some money. My father-in-law lent us two thousand dollars for a deposit and also the leadership gives us a loan to complete the value of the car. I made monthly payments and pay all off.
Yes, I did. when I moved to this country 17 years ago, I didn't have any credit history. Facing a need for a car I went to a dealership. They explained to me that my credit was poor and my only option was to borrow some money. My father-in-law lent us two thousand dollars for a deposit :D and also the dealership gave us a loan. I made monthly payments and paid everything off.

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Re: Have you ever taken out a loan?

Post by Hannylove » Tue Jun 06, 2017 2:03 pm

No. I have not taken loan.

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Re: Have you ever taken out a loan?

Post by James Trotta » Mon Jun 12, 2017 2:22 am

Hi :D
Hannylove wrote:
Tue Jun 06, 2017 2:03 pm
No. I have not taken loan.
I have not taken a loan. (taken out a loan)

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