What are the best ways to protect your money as a lender

[cherry123]

It is always good to protect your money when you give it out as a loan. one way to protect it is through getting collateral. What other ways can creditors protect their money?

 

[Starmix]

Another way is to have at least 2 co makers and to prepare a memorandum of agreement. Surcharge be done if failed to pay in a month.

 

[flower]

All the best way to protect your money as a lender is to receive collaterals from the people who are receiving the cash from you.

 

[Starmix]

There's always a collateral once borrow a huge money especially inba bank. Banks require lot or land as a collateral. It's not good to loan in bank.

 

[Bisolami]

It is always good to protect your money when you give it out as a loan. one way to protect it is through getting collateral. What other ways can creditors protect their money?

The best way is by getting the necessary information of the person that borrows money from you so that they won't be able to run away with your money

 

[cherry123]

The best way is by getting the necessary information of the person that borrows money from you so that they won't be able to run away with your money

Well, if that will help especially their photographs. Some people gets the money and change location.

 

[Bisolami]

Well, if that will help especially their photographs. Some people gets the money and change location.

Lending money to people is a very risky thing because a lot of people even scam the lending platforms so it is not something I would love to venture into

 

[Suba]

As a lender, the safest way to keep your money is collateral, but if there is none, it can be in the form of an acknowledgment of debt, if the borrower is unable to pay until the specified time has passed, then you as a lender have the right to take valuables from their home. But personally I never lend money with collateral or anything else, only based on helping with a limited amount.

 

[Starmix]

It's better to avoid lending or borrow in a lending shop for it charges high and confiscate whatever the borrower has if failed to pay.

 

[SHAHID987]

We read so many cases as there are severe conflict started over lending money. As some people deny that if they had taken any money. For this reason it is better to have a written agreement.

 

[Reedex]

I have not received any payment from any URL shortener before.

Post automatically merged: Jan 11, 2023

You must ensure that you will take into account collaterals to save your fund.

 

[Shavkat]

As a lender, he or she needs to secure his or her business by asking these people with capital before lending money to them.

 

[Passiveearner]

It is always good to protect your money when you give it out as a loan. one way to protect it is through getting collateral. What other ways can creditors protect their money?

I think that mortgaging is the only possible way to protect your money and this is what many banks do.

 

[Bisolami]

I think that mortgaging is the only possible way to protect your money and this is what many banks do.

A lot of bank to do these and some banks only engage in mortgage in and I think it is a very good idea as long as it is a means of making money

 

[hastral45]

There are many ways that can be taken to safeguard loans grants. Such ways included request for collateral which it's values must be more than the value of the loans.

 

[Bisolami]

There are many ways that can be taken to safeguard loans grants. Such ways included request for collateral which it's values must be more than the value of the loans.

I think collateral is still the best way to track down their loans so that even if they want to run away is still have something to hold on to. Thats a good one

 

[uptrendfinancialsignal]

Money is to be protected and you must ensure your protect your fund for optimal performance of your businesses.

 

[Alberello75]

Well it is very difficult for me to answer this question, as I have no money to lend. But on the contrary I would have even gotten to the point that I should almost ask for a loan! But still as long as I can, I avoid asking for money.

 

[eldavis]

I dont really know much about this but most of these platforms that give loans usually also collect informations like your national identity card details so they can track you.

 

[Bisolami]

Money is to be protected and you must ensure your protect your fund for optimal performance of your businesses.

I think you should have every necessary details of the people that you will be lending your money to so that they will not run away