Community Chat

[jannabelle1]

This is always a difficult situation. Both hubby and l have separately loaned money to friends some years ago and it was never paid back. I just considered mine as a gift to a friend in trouble, but it was a different situation for hubby and neither of us have done it again. It created too many hard feelings. But - you have to do what feels right to you and not expect to see it paid back.

[tsavorite]

Oh boy this is a touchy subject...my bil did this to my h...several thousand dollars plus talked him into co signing loan for snowmobile while he was defaulting on people he owed money too! My h just did it and it caused horrible marital problems for us. Of course bil never paid back any cash and defaulted on loan. Go lawsuit papers in my mailbox for 3500.00 due. I had to drain savings account to pay off...so we didn't get dragged into court and credit ruined.

There's more I could say but my h has promised to never do that again. In marriage both should agree on loans or giving cash...took a lot of work and yrs to rebuild our marriage due to this. His other brother has attempted to get money from h 15k and then 30k to buy a home! Like were a bank! It really makes me angry just thinking about it!

Present day these 2 (not h) brothers aren't speaking as one says he gave the other 3000.00 loan and didn't pay back so he's dead to him!

Stay away from family or friends wanting your money...it won't end well. If you truly are helping say to pay a heating bill or some groceries one time...fine make it a gift but don't get further into it.

Mine was a long pita and I still worry these freeloaders will be back trying to get money from us...

[silkyk]

[Regal Bee]

I would not do this.....learned the hard way.

[blackhole99]

@Group 5 minus 1don't lend it to her, give it to her, that way if there are no strings on the money your friendship will stay intact. I would surmise she is a very close, long time friend who knows you can afford the loan or she wouldn't ask you. I personally would never loan money to a friend or family member, I would give it to them, once.

[CAMOGIRL]

I have learned that “loaning” money to a friend or even a family member is not a good idea. You will most likely will never see a dime of that so called loan or they will take their sweet time reimbursing you.

I would only do it now if it if it was an absolute necessity! I find it odd that people - your friends or your family whom you love and trust seem to forget to pay you back or just keep putting it off when you know they have the money. Perhaps they just expect it and never think twice about it - which to me is wrong, you helped them out of a jam and they should respect and appreciate that by paying you back as soon as they can.

[SunValley]

Once a friend asks for a loan, the friendship has now become a business relationship with them having no financial accountability and you with no recourse. You feel obligated but tenuous and they are betting that you’ll do it. With a large amount involved, this is putting too much on you, and your friend should not put you in this predicament. Say no and let the chips fall where they may. I said no to a friend but offered to help her find a solution and we are still friends, but it was not easy.