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The risk of giving personal loans to others
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All it takes for you to lose all your money is for the borrower to decide not to repay the loan.
PHOTO: ISTOCKPHOTO
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SINGAPORE - Unless you are running a licensed moneylending business, you should always think twice before lending to anyone because the risks of ending up out of pocket are considerable.
Take the most obvious risk: All it takes for you to lose all your money is for the borrower to decide not to repay the loan.
