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Difference between revisions of "Vay mượn (Vietnam)"
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discuss the issue with their close relatives who, depending on their own financial situation and the | discuss the issue with their close relatives who, depending on their own financial situation and the | ||
level of trust they feel for the borrower, will offer a sum of money, possibly at zero interest, to be | level of trust they feel for the borrower, will offer a sum of money, possibly at zero interest, to be | ||
repaid within a flexible timeframe. The lender may seek to agree a deadline by which the loan | repaid within a flexible timeframe. | ||
The lender may seek to agree a deadline by which the loan | |||
should be repaid, but will in practice have no formal means of enforcement. Unlike a formal bank- | should be repaid, but will in practice have no formal means of enforcement. Unlike a formal bank- | ||
loan, for example, the lender cannot repossess property in the event of a delay or failure to repay a | loan, for example, the lender cannot repossess property in the event of a delay or failure to repay a | ||
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tend to be zero, or close to zero, when money is borrowed from very close relatives. Rates are | tend to be zero, or close to zero, when money is borrowed from very close relatives. Rates are | ||
however likely to be higher when a borrower approaches friends or distant relatives, and when the | however likely to be higher when a borrower approaches friends or distant relatives, and when the | ||
sum in question is substantial. In such circumstances, the interest rate is likely to depend not only | sum in question is substantial. | ||
In such circumstances, the interest rate is likely to depend not only | |||
on how likely the borrower is expected to repay the money on time, but also on the nature of the | on how likely the borrower is expected to repay the money on time, but also on the nature of the | ||
personal relationship between the borrower and the potential lender. Every loan is negotiated on a | personal relationship between the borrower and the potential lender. Every loan is negotiated on a | ||