Friday, August 26, 2011

If you are in debt, you will not go to jail

Those who are in debt, lucky for you, you still have lady luck on you side - that you will get incarcerated because of debt.

Why is that?

Maybe because if you are in debt, you cannot pay it anymore if you are in jail. That is the main thing.

It is quite unfair isn't it?

Why cannot we take his/her hands off? or one leg? or any of his/her assets? That is what others have done anyway, if they want to avoid prosecution or humiliation from their creditors.

Look at me. I made the Philippines suffer because I borrowed to IMF, lots of money indeed, just to keep my country moving. And yet there are no returns. NO ONE PAID YET!

I am the kind person who borrowed money for others so that they can go on with their lives and make my country proud. But all was lost. Especially the trust and time.

I wonder if they can still sleep at night.

So you see. Before lending to someone, be safe and secure, get a collateral. Money does not grow on trees or comes out from someones mouth like vomit.

It really hurts I tell you straight out....

Be careful.

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