familyguy

Lending money to a Filipino

39 posts in this topic

Ok, I'm just curious about what a Filipino thinks in their mind when you lend them money. Example, A Filipino friend asks to borrow some money. Then after giving the money they never mention it again. Weeks and months go by and when asked when he/she can start to pay you back they look at you like you have 14 heads attached to your neck. You get excuses for eternity. So, what I'm asking here is does this non payment only apply to foreigners? Also, very important what are they actually thinking? Does "loan" mean gift? No guilt, no conscious. Thanks

2 years!!!! Not 1 peso paid back yet, and acts like the loan never happened and does not need to be repaid because ALL foreigners are Named Mark Zuckerberg.

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Posted (edited)

I guess they will return a small amount, when they request for new loan.. :) and why you need it back anyway!! 

Edited by Raven
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Loan usually means gift. Never lend money unless you are ok with not getting it back. Not everyone is like that but so many are that u have to assume that everyone is like that. If you loan / gift to one person soon another one will step up and ask for their loan / gift too. That is my experience.

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Somebody loaned money to the wrong filipino.

Loan money to my American sister and you'd get the same response. Just don't do it unless you know before hand.

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Gift,   Stolen,   Promo,   Borrow,   Loan,   "Just hold on to this for me".

In the typical Filipino mind they all mean the same thing:

"Whats mine is mine and what's yours is mine."  

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Executive summary:

A loan with collateral is a loan.

A loan without collateral is a gift.

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Our credit line is zero. Word gets around.

Of course, nothing is absolute. In my only case of significant lending in 5 years I gave P5K to our handyman who is a spectacular worker and all around good guy. I never met better. No care if I ever see it again.

We had relatives go one worse and move out leaving bills. A large degree of these people feel that after a certain amount of time it all resets. They also are grand masters at blame shifting and getting upset when you are firm about repayment. Very poor with boundries!

And for the effete who need to comment at perceived bashing, feck you. Rather be around Filipino's anytime. Only observing traits.

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2 hours ago, familyguy said:

Ok, I'm just curious about what a Filipino thinks in their mind when you lend them money.

Typically? That you are giving it to them.

2 hours ago, familyguy said:

So, what I'm asking here is does this non payment only apply to foreigners?

Especially when it involves a foreigner.

2 hours ago, familyguy said:

Also, very important what are they actually thinking? Does "loan" mean gift?

Yes. See above.

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I've loaned 10s of 1000s of pesos to SIL and BIL here, always get repaid fast but they both have real jobs. The BIL usually tries to avoid us until he repaid us though.

Hell, if everybody did that I might have to start handing out cash loans to whoever comes over to visit. :D

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They ask the wife who tells them to ask me. When I'm asked, which is rare, I lay out the terms of the loan and make sure they understand the definition. If they still owe me money they cannot borrow again until the previous loan is paid off. If they miss a payment they cannot borrow again, (though I don't tell them that until the initial loan is paid).

Since we started these rules, no problem

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