teresathegreat
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Never lend money to family or friends. Give it as a gift, with no expectation of being repaid. If money really is "no issue" for you, then the difference between a gift and a loan should bother you.
I'd give the money, and tell the person to "pay it forward" and someday do a huge favor for someone else in need. |
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Angie
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Lending money to a friend is never a good idea. Always look at it this way -- consider it a gift, if it gets repaid, great. But more often than not, you will lose a friend if you really expect your money back. |
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81 Honda
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No, I let my "best" friend borrow quite a bit of money years ago, got $80.00 about a month after the initial lending occured and haven't seen a dime since. Good thing I don't care about money....... |
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livin the dream
 |
Nope -- too many not so good experiances with people taking thier time to pay you back and then the freindship gets strained, etc, etc. In my opinion, if they don't have the credit or can't get it from thier family -- there is a reason. |
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Nilay
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while I concur many other answers already given -
I would say -
1. If you do lend to a friend - do not expect it back -
and that will not hurt your friendship, just in case.
If you do get it back it will strengthen the friendship further.
OR
2. Advise your friend to seek money from
http://www.prosper.com/
This a good place to seek money from someone else.
Hope this helps.
-N |
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Doctor Deth
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can you get any collateral from them - something they teasure that you can hold onto for security - get the loan in writing also with repayment terms |
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that hot chick
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never loan more than you can afford to giveaway. make your friend sign a promisory note with the expected pay back date, never use as soon as he can. |
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justagrandma
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I wouldn't lend my sister $500 when I was worried if she would spend it on drugs. She was angry at me for it, but I would have felt worse if I had known I was contributing to her habit. |
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mcandrea2001
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Loaning a friend $800.00 is simply an invitation to destroy your friendship over $800.00.
No I would not! |
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VATreasures
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If you can give it as a gift to help them help themselves, then I would do it. If you have concerns about either losing the money or how they would use it, I would not give them the money.
You might suggest they go to prosper and you can bid on their loan at a high interest rate. |
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island3girl
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no, sorry.
it is the quickest way to lose a friendship
but if youdecide to do it, get it in writing and notarized that they will pay you back, how much interest, when repayment begins, how often they make payments, etc and always give or get a receipt
just in case you have to take them to small claims court later on |
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tentoes
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Well, would it be a 'gift' or a 'loan'? This comes in to play in the event that you ever plan to ask your friend for the money back (I've seen too many episodes of The People's Court). If it is a gift, and money is no object, then offer it up to your friend. Tell your friend that it's a gift and that you do not expect to be paid back... with either money or favors. Let you friend know that you are concerned for their well being and that you want to help them out. |
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rufes
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Depend on how much money I have. If I’m a millionaire yes, if not then no. I'll simply tell him or her that I just paid some bills and I am running very short on my reserves and if I do I’ll have placed myself in a very bad situation. |
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Greg S
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Probably not unless I got a promissary note. My friends are not beggars though. |
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sporregar
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Not without having a legal contract of repayment. |
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nerdyroberts
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JUST AS LONG AS THEY AREN'T ADDICTED TO DRUGS,SHOPPING , OR IN DEBT. |
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judyrobins14
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Not if I WANTED TO KEEP MY FRIEND, I'd give her/him the money but not as a loan and if I couldn't afford all of it, I'd give her/him what I could. It is very hard to say no, when asked, but I had a bad experience once, my husband and I co-signed a loan for a car with the idea that she would make 6 payments on time to establish credit, and she just p-----d that money away, and we were harassed for payment. Finally I got angry and told her that I would take the car and make the payment balance, she paid it in full, and our relationship went south. |
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haley j
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well it depends because, well do you have it? is the Friends a good Friend or a not so good Friend it all depends on that friend. |
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Livy Mac
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Only if they are really close. And they reeeaaaly needed the money. |
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sweetness
 |
what do you mean where they are at? and its usually not a very good idea lending large amounts of money to friends...it can ruin relationships..depends on what they are using it for, whether they will return it, whether you are being used, etc |
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?
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give the money, never borrow to friends or family. |
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MVD34
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If you can afford to give it to them, do so (once); otherwise say no -- as others have said, loaning friends and family money is one of the quickest ways to end a perfectly good friendship.
Reading between the lines and assuming you have not given this person money already, I suggest that you give the money to them, but tell them something like, "I am happy to help you out this once, because I can. Let’s just make this a friendly agreement. I won't ask you about it again and you repay me when you are back on your feet again."
The tough part is that the jerks and users will not only "forget" to repay you but they will ask you for more money in a relatively short period of time. That is, unfortunately, when you not only have to say "no" but "goodbye" as well.
People who really care for and respect you will likely die before they ask you for another penny...and they will try to pay you back as soon as they can...in this case, set the money aside and give it to them outright as a gift for their birthday or Christmas and tell them the rest of the debt is forgiven in full.
This will answer both of your questions. |
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Caring girl.
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Depends on how good Friend they where, how long I had known them, how much I trusted them, what the money would be used for, etc. |
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alvin yakatory
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depends on what they would use it for |
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Johnny U
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if money is no issue the question is moot. |
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