U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Non-Romantic Relationships
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-11-2013, 05:32 PM
 
774 posts, read 1,696,569 times
Reputation: 681

Advertisements

If so, what did you do? I'm just curious because a friend recently asked to borrow money, and I reluctantly lent it to him. I do believe I will see the money again, but always wondered what one could do if the money isn't returned.
Reply With Quote Quick reply to this message

 
Old 08-11-2013, 05:43 PM
 
28,905 posts, read 46,733,389 times
Reputation: 46028
Are we talking about more than a sawbuck or two? Yes. But those friends who borrow a hundred or two hundred bucks and don't pay you back don't actually show up anymore. So the problem typically takes care of itself.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 05:46 PM
 
Location: Texas
43,557 posts, read 52,667,627 times
Reputation: 70811
Don't loan money.

Either give it or don't give it. Otherwise you are looking at all sorts of potential problems.

No, I would not stay friends with a mooch.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 05:50 PM
 
28,905 posts, read 46,733,389 times
Reputation: 46028
Quote:
Originally Posted by stan4 View Post
Don't loan money.

Either give it or don't give it. Otherwise you are looking at all sorts of potential problems.

No, I would not stay friends with a mooch.
I mostly agree with Stan, with one exception.

If you had a long-time friend who got into a serious bind, say having a bad run of it in his work life (Lots of hardworking people have suffered that fate over the past five years), would you turn your back on this person who needed a few hundred bucks to make ends meet?

Not that I would be an open-ended source of money or anything, but I'm not sure I wouldn't help. In that situation, I would just consider the money a gift unless that friend proved otherwise.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 05:50 PM
 
774 posts, read 1,696,569 times
Reputation: 681
Quote:
Originally Posted by cpg35223 View Post
Are we talking about more than a sawbuck or two? Yes. But those friends who borrow a hundred or two hundred bucks and don't pay you back don't actually show up anymore. So the problem typically takes care of itself.
So in the latter case, do you just write off the hundred or two hundred bucks as a loss? In this case, I lent a hundred and fifty bucks, but the person I lent it to maintains regular contact with me, so maybe that is a good sign.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 05:53 PM
 
28,905 posts, read 46,733,389 times
Reputation: 46028
Quote:
Originally Posted by Kemba View Post
So in the latter case, do you just write off the hundred or two hundred bucks as a loss? In this case, I lent a hundred and fifty bucks, but the person I lent it to maintains regular contact with me, so maybe that is a good sign.
Yeah. I mean, is this a good guy who has just had a rough patch (I mean, who hasn't)? If so, I'd cut the guy some slack and bring it up at a later date.

I mean, during the early days of my business, I had a client stiff me bigtime and I had payroll coming up. I hadn't been in business long enough to get a loan from a bank, so I hit a very good friend of mine up for money. It took me two years, but I paid him back with interest (I insisted on paying him 7%). Some months it was a couple of hundred bucks. Some months it was a couple of thousand. But I never let a month go buy without cutting him a check for some amount.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 05:57 PM
 
Location: Texas
43,557 posts, read 52,667,627 times
Reputation: 70811
Quote:
Originally Posted by cpg35223 View Post
I mostly agree with Stan, with one exception.

If you had a long-time friend who got into a serious bind, say having a bad run of it in his work life (Lots of hardworking people have suffered that fate over the past five years), would you turn your back on this person who needed a few hundred bucks to make ends meet?

Not that I would be an open-ended source of money or anything, but I'm not sure I wouldn't help. In that situation, I would just consider the money a gift unless that friend proved otherwise.
That is no exception.

I have gifted people $$ several times...from a few hundred to several thousand.

It is not expected to be paid back, though. That is the only difference.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 06:20 PM
 
2,152 posts, read 6,067,290 times
Reputation: 1377
I'm with the previous poster about lending without the expectation of getting it back. If it doesn't get paid back you tend to have a resentment of your friend and it generally winds up fizzling the friendship.

Like Sonny sad it A Bronx Tale "It costs you $150.00 to never see them again"
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 07:15 PM
 
740 posts, read 1,879,746 times
Reputation: 924
some people are good about it. most aren't. think about it; alot of the time these loan amounts are small, say $150 - $500 dollars in the grand scheme of things. What reason are they coming to you for this amount of cash? I've seen people do very silly things in spite of having cash flow issues. One person called me because their electricity got shut off (around $400 needed to pay). I said no. Eventually they worked out something with the electricity company and worked out a payment plan. What did they do to celebrate? Ate out at an expensive seafood restaurant. For a lot of people having utilities, phones or cable shut off is rock bottom. For others, the supreme moocher, can have no electricity and car repossession, spend frivolously and then ask for handouts to fix it all.
Reply With Quote Quick reply to this message
 
Old 08-11-2013, 10:03 PM
 
25,953 posts, read 26,767,982 times
Reputation: 26716
Quote:
Originally Posted by Kemba View Post
If so, what did you do? I'm just curious because a friend recently asked to borrow money, and I reluctantly lent it to him. I do believe I will see the money again, but always wondered what one could do if the money isn't returned.
I've never lent money unless I know I'll never see it and this is a close person. Secondly, I never lend money unless I get a dated check in return as to when I can cash it - this is the best way to do this. Third, if it is a significant amount, in the thousands, you use to be able to have a person sign some form regarding this and file it as a tax deduction. Check on number three it's been years since I've seen this used and always check with an accountant.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Non-Romantic Relationships
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top