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Old 09-24-2007, 12:12 PM
 
Location: SoFlo to SoCal (Hacienda Heights)
1,510 posts, read 4,648,334 times
Reputation: 660

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I have loaned money to friends and family before.. and I think its always a bad idea. Unless theyre in a very bad situation. They either take forever to pay you back (and sometimes you really do need that money back right away), or in my case are in shock that I was even asking for the money back. Hmm maybe cause its MY money and I earned it.
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Old 09-24-2007, 12:29 PM
 
15,254 posts, read 16,772,448 times
Reputation: 25416
Only "lend" the money if you don't expect expect to get it back. If he can't save $900 for a car, how is he going to come up with the money to pay you back? And if the $900 is only a down payment, it's really going to be difficult for him to pay you back while he's making the payment.

Also, never co-sign a loan for a friend. If the bank or the car dealership doesn't think there's a good chance they can make the note, neither should you.
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Old 09-24-2007, 12:48 PM
 
Location: Houston
2 posts, read 4,842 times
Reputation: 13
Default You never lend money to a friend, you give it to them. Then your not mad when they don't pay it back!!!!!

You never lend money to a friend. You give it to them. That way you don't loss them as a friend when they don't pay it back. Most of the time when its time for them to pay it back they stop speaking to you. Just give them the money or say No!
Quote:
Originally Posted by HappyinNY View Post
Hi everyone,

Would you lend a friend money if they asked you to?

I had a friend I known for a year ask me to borrow some money ($900) so he could get a "car." He promised to pay it back in the future.

I am quite hesitant to lend money to people because from past experiences most people don't end up repaying what you lend them.

Have you lend anyone money?

Should I lend my friend that ($900) out of goodwill and trust him that he will repay or are people nowdays not trustworthy? I get the impression the latter is truer today unfortunately.
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Old 02-20-2011, 09:13 AM
 
Location: Capitol & Tully
148 posts, read 500,723 times
Reputation: 129
Huge mistake as I can tell you from experience. I had a friend that owed me money forever and if I would ask it from him he would act like I'm such an ******* and tell me all I care about is money. We are no longer friends.
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Old 02-20-2011, 09:31 AM
 
422 posts, read 568,813 times
Reputation: 492
Be prepared to lose the money or the relationship. If you can spare it just GIVE it to them. If they insist on paying you back great, if they don,t then at least you will still have your friend.
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Old 02-20-2011, 09:42 AM
 
10,139 posts, read 23,215,478 times
Reputation: 8284
Quote:
Originally Posted by Emmett Smith View Post
You never lend money to a friend. You give it to them. That way you don't loss them as a friend when they don't pay it back. Most of the time when its time for them to pay it back they stop speaking to you. Just give them the money or say No!
^^^^^ This right here is the correct answer. And, I would only add that if you can't afford to give it to them, you can't afford to lend it to them. Just say no.
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Old 02-20-2011, 11:56 AM
 
97 posts, read 105,124 times
Reputation: 238
Never ever lend friends money. THERE is a reason why they're asking you and not the bank. For the sake of the friendship, they technically have no obligation to return it to you. I lent a friend approximately the same amount you did, and I only got 70% of it back after constantly going after said friend. Its easier to let them walk give them money for a car. A car is technically a luxury you know. Just tell them that you're broke and can't help them out.
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Old 02-20-2011, 03:40 PM
 
1,206 posts, read 2,537,034 times
Reputation: 1150
Hell no. If your lending money its as good as gone. You might as well GIFT him money then lend it. Lending money to friends has ended many friendships. Just tell him sorry but no.
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Old 02-20-2011, 05:59 PM
 
3,111 posts, read 6,994,745 times
Reputation: 4251
I don't lend money. Maybe, buy him/her a bus pass for 1 month.
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Old 02-20-2011, 05:59 PM
 
Location: S. Florida
1,100 posts, read 2,654,836 times
Reputation: 1419
Quote:
Originally Posted by HappyinNY View Post
Hi everyone,

Would you lend a friend money if they asked you to?

I had a friend I known for a year ask me to borrow some money ($900) so he could get a "car." He promised to pay it back in the future.

I am quite hesitant to lend money to people because from past experiences most people don't end up repaying what you lend them.

Have you lend anyone money?

Should I lend my friend that ($900) out of goodwill and trust him that he will repay or are people nowdays not trustworthy? I get the impression the latter is truer today unfortunately.
Lending money to a friend is a sure fire way to cause tension and possibly lose the friendship. I lent a so called friend of mine $450 last year. He was down and out and really stressing about it. He swore up and down he would give it back to me ASAP. Have you heard from him? I most certainly haven't...Ughhhhhhh...
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