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Only Evil People Loan Money and Expect It To Be Paid Back
A friend wanted to buy a new car, and he had no money.  His credit wasn't very good, but he convinced me that he would pay me back if I loaned him enough to buy the car.  I took a chance on him and he got the car, new and nice, actually nicer and newer than mine.
For about the first year, he made good on our terms, that he pay me sixty equal payments that included a nominal interest amount.  As time went by, he began delaying his payments, first by a few days, and eventually he was a month behind.  He asked me if I could change the terms that he had agreed to, and I explained that I didn't think that was a good idea.  I had other plans for the funds he was using, and he would have to find a way to make the agreed payments.
He said that I was being unfair to him, and that, if he had good credit, he could now get an interest rate half what I was charging.  Furthermore, the car isn't even worth what he  now owes me.  I tried to explain that we had an agreement, and he ... more

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