Lending Friends Money

dragonmasterx · Post by **dragonmasterx** » Fri Sep 22, 2006 10:55 pm

Not money as in pocket change; but rather, enormous stacks of cash.

They can tell you a sob story, like "I'm bankrupt. My business is a failure. I still have a wife and kid to feed, won't you please lend me some cash? I'll pay you back in the future, I promise." Then they can simply never pay back, maybe even leave the country and cut off all contact with you. I personally know more than one person like this who's been bamboozled and lost lots of money.

So do you concur that it is best to never ever let friends borrow money no matter how depresssing their sob story is? Or would you be more trusting of your friends and take the financial risk?

Red Killey · Post by **Red Killey** » Sat Sep 23, 2006 12:05 am

The easiest way is to lend the money, but made a contract about it. That way if they run away, then you can sue or whatnot to get your money back. And of course, only lend money if you can actually afford to do it (so don't lend a million dollar if you only have a million and a hundred dollar).

And if they're bankrupt or really really in deep financial problem, I think the best solution is to help them get a job so that they have their own income, and help little by little on the side with money (say help feed their family while letting him pay for the bills by using his own salary, etc). Helping doesn't always have to be with "I'm going to give you a lot of money and let you do whatever you want with it."

Fu Su Lu · Post by **Fu Su Lu** » Sat Sep 23, 2006 8:19 am

It depends on the need of your friend... help for food ot taking his/her pet to the vet, I obviously would help my friend for free. But it is like an important amount of money, it should always be set by contract. Always. Dude. I know some odd histories of people who were friends, one lent the money, and the money was never given back. Sad.

pesmerga786 · Post by **pesmerga786** » Sat Sep 23, 2006 12:01 pm

I've let my friends borrow alot of money but not lke thousands but a 100 here and there. but im only 18 so haha dont got much cash on me to lend. if i did and my friend was in that position I would first see what kind of friend they are to me, will they pay me back, how bad they need it, and is this person just using me. you got to think of it alot of ways. if its a close friend of course but not someone you jus say hi to or go out with once in a while.. but if you can afford then just help them out ya rich bastards!!!

Kirkis · Post by **Kirkis** » Sat Sep 23, 2006 12:07 pm

My friend gave me and my girlfriend like 500 bucks or so to take care of some things in our lives, because I had a horrid paycheck of 70 bucks, and she had a dying guinea pig. He gave it to use unconditionally, as in, we'd never have to pay it back. We're really hopeing to have the opportunity to return the favor some day, y'know?

So... take it from a reciever of the money, it's not always a bad thing to lend out money, it's probably the most unexpected and nicest thing you can do. However, we didn't ask for the money, my girlfriend just wrote about the suckiness in her LiveJournal, and then... BAM, surprise here's 500 bucks, it was pretty crazy and my girlfriend ended up crying because she was so happy.

ANYHOW... basically, all I'm saying is, not everyone is stingey greedy bastards who won't return the favor/money, it just depends on the type of person your friends are.

Feldoon · Post by **Feldoon** » Sat Sep 23, 2006 6:28 pm

Eh, I'd never lend large sums of money to anybody without "trialling" them with smaller amounts.

I mean, somebody I know said "Oh go on. It's only a couple pounds and I'll pay you back!". Never paid me back. Don't trust him anymore.

But yeah, others I would trust. I mean, I can think up one person (non-family) off the top of my head that I wouldn't hesitate to lend money to as long as I could afford it.

pesmerga786 · Post by **pesmerga786** » Mon Sep 25, 2006 4:42 pm

Kirkis wrote:My friend gave me and my girlfriend like 500 bucks or so to take care of some things in our lives, because I had a horrid paycheck of 70 bucks, and she had a dying guinea pig. He gave it to use unconditionally, as in, we'd never have to pay it back. We're really hopeing to have the opportunity to return the favor some day, y'know?

So... take it from a reciever of the money, it's not always a bad thing to lend out money, it's probably the most unexpected and nicest thing you can do. However, we didn't ask for the money, my girlfriend just wrote about the suckiness in her LiveJournal, and then... BAM, surprise here's 500 bucks, it was pretty crazy and my girlfriend ended up crying because she was so happy.

ANYHOW... basically, all I'm saying is, not everyone is stingey greedy bastards who won't return the favor/money, it just depends on the type of person your friends are.

wow that is a nice friend there. my dads friend gave my parents almost all of there savings so we could come to america. we could have taken the money and never paid them back but they trusted my parents and lended them the money. while we settled here my parents paid them back plus more as a nice gesture.

xhus135 · Post by **xhus135** » Mon Sep 25, 2006 7:31 pm

Well for me i would probaly write a contract up, so if anything does happen i will be able to get my money back. but i prolly would help them a little, i wouldn't let them just take my money i would make sure that they have income coming in from them.