Im used to have loan obligations for years but never came to the point that the one i co-makered recently terminated for few issues. Late December 2010, we and my colleague agreed to renew our loans since we badly needed financial assitance for personal things and debts. Now, in the long run after our first deduction, i only knew in the middle of our shift where my colleague has been given warnings previously and he undergone coachings. Lately, he was on coaching from our immediate supervisor and manager related to the previous issues which i think he did the mistake again.
I know the fact and we agreed bind in the contract we signed if ever one of us left or is being terminated or in any instances, one should automatically pays the debt of the other. Now, i realize how burden i am with debts. I talked to my colleague, since he got no work at the moment, on how he is going to pay me? He said once he get his last pay then he will give me money to pay. I told him, to quickly search for another job so that he can exchange his ATM card and the Loan company will debit the new card.
I don’t know why and how will i escape from this mess. This is totally ridiculous and im not happy at all.
Lesson learned, next time no more loans, no more debts.