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Personal loan
Is there a need for a commitment letter when borrowing money?
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[QUOTE="sincerem, post: 250995, member: 25228"] I am not against what bank does, many individuals are just scammers, every little opportunity they see to scam, they'll just scam and leave the person who borrowed them money helpless. I don't blame the bank when it comes to collateral demands nor signing letter from a friend or relative, because they want to be sure of their money and not losing it. Because the funds they're borrowing out are peoples funds under their custody. If I'm in their shoes too, I will do everything to protect my funds and not borrowing to anyone I just met in my company who is just desperate for money [/QUOTE]
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Is there a need for a commitment letter when borrowing money?
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