Loans repayments, ‘charity begins at home’

SO they say to borrow is gracious, but to pay back is painful and perhaps humiliating because one must part with sum some to the lender, as if this time giving freely without realizing that the financier also went extra pains to squeeze his/her budget to make ends meet to the borrowed during the time of need.

It is what is taking place with those overstaying with debts, not because they have no capacity to pay back, but because they hesitate trying to weigh and see whether the borrower had forgotten or waived the debt in their favour.

In the light, those who borrowed tractors from the Jeshi la Kujenga Taifa (SUMA-JKT) military wing and have failed to live to their agreement ought to have known that a debt, whether little or large, should be managed by the creditor to avoid being caught off guard and juggle in payments, which may be embarrassing at times

. When a debt is paid on time, the creditor re-organizes again to see the bigger picture of how he/she will be responsible to cater for other necessities which must not be compromised with. These may include paying monthly bills to avoid accumulations, which may come in with penalties and interfere with one’s budget.

For that matter, the Commander-in-Chief, President John Pombe Magufuli earlier giving the public and private institutions 30- day ultimatum to clear their 38.3bn/-debt owed to Suma JKT.

In a way reminding them to release the unnecessary ‘shackles they were putting in the hands’ of the National Service Programme so that it becomes able again to lend other clients in the drive to revolutionize agriculture in the country.

The statement was recently also reinforced in the National Assembly by the Speaker, Job Ndugai that all beneficiaries of the loans must repay them before June 23. In good faith meaning that once one repay back a debt, one automatically becomes a good borrower to be trusted by the lender next time.

The affected individuals, should not see them themselves as being pushed too much and ‘belittled’ because borrowing is something normal and routine in human life for even the super-power countries, also have debts and governments worldwide equally have debts to service.

Once the loans are repaid, the army would also be in a position to service its implementations including funding its projects and establishing factories which is the dream of the Fifth Phase Government.

If one is finding it hard to pay back loans, one should seek help from any debt relief company, like a credit counseling agency, to avoid being declared bankrupt, which may come with advantages and disadvantages, so one must weigh the options carefully.

Author: Editor

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