Help on quitting after receiving a loan from work

Last week I got a big loan at my place of work than two days later, I got a new job. I am wondering which is the best way to go about it because I have already used the money for the intended project and want to repay it so my colleagues who guaranteed me the money will not be forced to pay up for me.

Answer #1

What are the agreed terms for you accepting the loan, i.e., how and when you were going to replay the loan before you quit your other job. The best way to got about it is to stick to those terms. It is not that you will not have the money which does not appear to be the issue since you have a new job.

Answer #2

Dear Patbrown, I was just wondering if you could advise me on the best way to repay such a loan. I was supposed to repay in 3 years but since I am leaving, it may not go well well with people who guaranteed the loan. My employer has no way of attaching my salary and I will pay out of goodwill. Should I pay in bigger instalments than agreed to finish quickly?

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