Last week I burned $10,000.00, not for buying stuff for myself but paying someone else trouble! You see, a family member started a business a couple of years back. I or we were not aware or really don’t know how he manages to get a few personal loans from the banks. On top of that, he also borrows money from ‘along’, the unlicensed money lenders. So, all together his loans come to around $200,000.00, minus the interest.

Recently, his business was not doing well. His repayments are getting late… and the ‘along’ don’t like it… and they are very rough too. He has no way but to ask help from us. So, the moral of the stories is, if you plan to get a loan, be it secured homeowner loan or any other loans, get it from a reputable financial entity.