!! Credit Cards breaking friendship !!

This is a true story

Most of it is true

Some of it is true

Atleast the concept is true

A good friend of my had started money lending business along with his job. To start with his business was good, his friends who were taking money from him were giving him exorbitant interest of 60% p.a. They were paying the interest on time & asking for more money.

He had good salary around 30000 / month so many banks had rained Credit cards on him. What he started doing was using that credit card to take money @ 2% and giving it at 5% every month. His greed for money increased as he got double by not even doing anything. He started taking personal loans of around 15 lakhs.

His client had a loss in business & said him that he cannot pay anymore interest. This was a setback for him as he had to clear credit card bill & EMI of loans taken. So he started taking money from his friends (one of them was myself). I didn't had cash so he asked me for my credit card & i gave it.

He used my money & when the date payment came he switched off his phone. I was shocked as i never expected this from him. He stopped taking my call & started ignoring me. The collection team of HDFC bank started calling me. When i stopped picking up my call, they started calling my dad & harassing him.

4 months have passed & i am making the payment on his behalf with my friend not even picking up my call. He is not interested in talking to me & above that not even willing to pay the minimum balance for my card. I lost my creditability, my friend & above that lost trust on my other friends.

Beware of your friends as everyone is not the same & even the best can betray you.

Have extra money, better use it for buying gold......