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Old 04-12-2011, 04:13 AM
 
25,953 posts, read 26,667,972 times
Reputation: 26711

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I once borrowed money from a friend, just once. It was a long time ago and I needed these prescriptions but didn't get paid for 4 more days and couldn't even drive to go get them. A friend of mine went and picked them up for me, but I IMMEDIATELY gave him a check for the full amount, dated for when I got paid next. Haven't borrowed since and that method would be the ONLY way I'd ever lend someone money.
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Old 04-12-2011, 04:43 AM
 
Location: North of Nowhere, South of Everywhere
1,085 posts, read 975,079 times
Reputation: 1894
I would never lend money to a friend. You don't know if they are really using it for what they say they needed for and you can't guarantee that they are going to pay you back at all.
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Old 04-12-2011, 07:25 AM
 
Location: Vegas, baby, Vegas!
3,977 posts, read 6,537,710 times
Reputation: 3707
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.
I never LOAN money to a friend, I GIVE them the money, and one day if they give it back I am surprised and delighted.

Jonathan
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Old 04-12-2011, 07:33 AM
 
Location: Coastal Georgia
36,909 posts, read 45,365,815 times
Reputation: 61393
We have lent money to my DHs good friend and he did pay it back promptly. I can think of no other circumstance in which we have lent money and been paid back, including my BIL who has "forgotten" he borrowed it.
So we would not lend, but only give. Same goes with tools or machinery if we think the person borrowing it would not get it fixed if they broke it.
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Old 04-14-2011, 03:11 PM
 
12,671 posts, read 21,002,162 times
Reputation: 2624
Do it the legal way and use Prosper or The Lending Club.
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Old 04-14-2011, 03:25 PM
 
525 posts, read 1,306,400 times
Reputation: 403
When you give money to ANYONE, don't expect it back
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Old 04-14-2011, 04:18 PM
 
Location: Brooklyn,NY
10,595 posts, read 13,080,907 times
Reputation: 16135
Lending a small amount is ok, but a large sum can create issues. I once lent $2,800 to a friend to fix her car, And not only did she not pay me back but did a "fade out" and stopped returning my calls. A gift is different as my cousin needed rent once and said she would pay me back, but I told her it was cool.
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Old 04-14-2011, 05:53 PM
 
Location: syracuse ny
2,412 posts, read 4,503,114 times
Reputation: 2034
Most people with ANY kind of credit can get $900 from a lending institution. There are all sorts of 'got a job, get a car' dealerships out there! You mentioned some past experience of not getting back money. I know people will hate me saying this, but maybe YOU are an easy mark? Are you emotionally involved with this, or any previous borrowers?
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Old 04-14-2011, 06:11 PM
 
Location: syracuse ny
2,412 posts, read 4,503,114 times
Reputation: 2034
You know, I was interested in this persons post, I started reading down for any response by her, then I clicked on their 'other posts' to see if they responded. To my shock it's mostly her recommending people buy this car or that with a whole bunch of reasons why this particular car is good for them.

It's a GD car dealer! Or at least a girl who works at a car dealership doing some kind of research by creating threads on here. Sort of like hmmm what if they need to convince a friend to borrow money, I know, I'll create a thread about lending money for a car...

She knows ALL ABOUT Subaru's and Hondas and Fords other cars, their resale values, whole bunches of stuff and posts telling people what kind of car to buy in different situations.

We're being used as a sounding board for different car buying situations she might run into trying to sell them.
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Old 04-15-2011, 05:30 AM
 
Location: Vegas, baby, Vegas!
3,977 posts, read 6,537,710 times
Reputation: 3707
Quote:
Originally Posted by D. Scott View Post
Lending a small amount is ok, but a large sum can create issues. I once lent $2,800 to a friend to fix her car, And not only did she not pay me back but did a "fade out" and stopped returning my calls. A gift is different as my cousin needed rent once and said she would pay me back, but I told her it was cool.
There is a old saying..

"If you loan somebody money, and they never pay you back, or call you...
.... ITS WORTH THE MONEY"

Jonathan
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