In this episode of
Money Creation Explained we are going to go over Why Family
and Friends Never Pay Back Loans?
If you have ever had a family member or friend ask you to
borrow money then you have most probably experienced the
problems trying to get that money back. People start out
with the intention of paying back but because the other side
is family and friends they do not take repaying as seriously
as they would with other bills from a real company. Payments
get delayed and there are always other expenses or needs or
wants that come up. It is human nature to abuse this
closeness in family and friends situations and people either
stop asking for the money back, or are too embarrassed to
ask, or the person does not pay it back and it creates
tensions in the relationship. Then when other loans are
needed, family and friends do not want to help again in
future situations because they know that they will not get
back their money.
There is now a solution to this problem. IOU Notes takes the
concept of the informal pay later and borrowing method of
IOU's and turns it into a formal method that is safe, easy,
and powerful form of currency that is available to everyone
through our patent pending platform. Securely and easily
setup and track transactions, establish repayment terms of
choice (1 - 24 months) and (0% - 5% interest) and other
related functions in one convenient platform.
IOU Notes is a peer-to-peer credit and loan platform.
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Notes is a for profit company and any funds donated are not
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and pay the applicable taxes on it.
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