One of my guys lose him moto today. De company wey him buy de car from come tow de car from him house. Dem talk say him neva pay him car note for dis months wey just pass. Car note na small small payments wey him supposed to dey pay every month until him finish to pay for de moto. And na moto wey him don dey pay for since one year now. Just because say him miss to pay for one month, dem come collect de car! Dis one no good at all na.
Na im make me I no like anytin wey pessin fit buy as mortgage. For ya mind you go tink say na ya property, and you go dey denge dey pose with am. But you don forget say na borrow pose wey you carry so. When you no come pay ya monthly dues, na dat time you go sabi say na rent wey you rent dat tin.
Dat money wahala wey happen for 2008, when almost all de banks just dey close, plenty people lose dem job. And na so dem come dey lose all de tins wey dem buy for credit especially dem house. You go see family wey been dey live for big 4 bedroom house go find dem sef for one room.
Ee no mata how many months wey you don dey faithful with ya payment, even if na one month wey remain for you to finish to pay and you no get de money, dem go collect de property from ya hand. Infact dis companies dey pray make you default, so dat dem fit collect am den come sell am to anoda pessin.
Me na cash and carry be my own policy. I like to pay cash down for anytin I wan buy. But de way dem program dia economy hia, you no fit buy tins cash down. How much wey you dey make for ya work, wey go allow you buy house and den car and oda tins wey you go need? So na im make all man dey buy tins for credit. You collect check every month and den take all de money to pay for tins wey you buy for credit. Dis one na proper monkey dey work and baboon dey chop!
And so de only way to survive dis kind system na to cut ya agbada according to de material wey ya money reach. No go buy moto wey cost pass ya salary. Or no buy too many tins wey you no fit pay for with de kind paycheck wey you dey get monthly. And make you pray well well say you no go lose ya job. Beacuase for most people hia, to lose dem job dey like say you comot sick pessin from life support. Dem whole life don shut down be dat.
My guy don go back to dey enter public transport. Afta him don pose with de car all dis while, him don go back to dey use legedis benz. Well.., na so life be for hia, no condition dey permanent!!!
I don't like the credit system in US for anything. Gets so many people with indiscipline into debt. I also don't like the fact that the system has been designed to keep most people at a certain level.
ReplyDeleteAtilola's World
Yes oo, my broda! dem do the economy in a way that you MUST have credit! Initially, we dey buy cash, say, we no want credit....but our credit rating come low ehen! So oga go buy with credit, then go use his debit pay the cash back! Nah one debit card, I get, but 2 credit cards..nah so dem go dey take orishirishi credit cards dey bombard our mail box, nah so I dey throwaway am! The temptation too much fa! No be me dem go catch put for gbese!
ReplyDeleteWhy your guy no put am for automatic payment? nah dat be the best, so e no go kukuma worry yaself monthly. I fear mortgage! The foreclosure i dey see everytime too much! Why will i go and live in a big house when i know the cost of maintance will be much? That is why I like apartment, everything factored into the rent Shikenah!
Pipo, dey always misuse some things. Just ebcause nah credit, why pesin go dey go shooping everytime? As you see me so, i dey calculate well before we go family shopping..we buy what we NEED and not WANT! But some pipo longer throat no be for here!