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There are many valid reasons for yonige(night run away) or johatsu(literally evaporation) in Japan, but there are pernicious side effects. Loans and leases in
by namizaru 6y ago
There are many valid reasons for yonige(night run away) or johatsu(literally evaporation) in Japan, but there are pernicious side effects.
Loans and leases in Japan most often require a guarantor. If the primary loan holder disappears, the guarantor is stuck having to repay the loan or pay out the remainder of the lease agreement.
I personally know a family devastated when they found themselves on the hook paying out a loan for a close friend they had known from childhood while trying to build their own business.
- oshea64bit 6y agoI've heard of a similar situation as well. It's a common saying here to never become somebody's hoshonin (guarantor), no matter who it is you're helping out.
- HenryBemis 6y agoIt's common saying everywhere. If the person needs a guarantor, it means that they cannot afford the loan. Even if they have the best of intentions, life may happen (people die before their time for many reasons), they can get caught up with the wrong crowd and fall out of (financial) grace, a bad partner can get them to "drop this life and move away" (ignoring obligations), and you can end with a damaging debt.
- 9nGQluzmnq3M 6y agoIn Japan you need guarantors even for mundane things like renting an apartment. This is particularly difficult for immigrants if they don't know anybody and their employer won't sponsor them.
- SpelingBeeChamp 6y agoI am not sure "afford" is the right word. If someone needs a guarantor, it means they can't qualify for the loan.
- SpelingBeeChamp 6y agoInteresting that it's "don't guarantee loans" and not "only guarantee loans if you are comfortable never seeing the money again."