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Only lend money that you can afford to give away.
I suggest sitting down with him and seeing how many car payments he's behind and offering to to arrange a payment with the lender. If you feel so led...
A friend of my wife and I who I met at work some years ago he always getting let go from jobs, and has a tough time finding work wants to borrow $5000 he is about lose his car and behind on his rent. He has other family he can go to I'm against it because I know he won't be able to pay it back.
If you have it, and can afford not to get it back, do it....that is what friendship is about. If you can't, offer him half and let it go, or just give what you can afford. When I give money, I always assume I won't see it again, and it relieves a huge burden off of the friendship. Good luck.
I would lend money to a friend, yes, but I don't know if I'd lend it to this particular friend.
What's missing from your post is:
-whether he lost his previous jobs because of the bad luck of the bad economy, or his own incompetence
-whether you're close friends
-whether you feel he's made prudent efforts to cut back on expenses, or is trying unrealistically to maintain he past levels
I would lend money to a friend, yes, but I don't know if I'd lend it to this particular friend.
What's missing from your post is:
-whether he lost his previous jobs because of the bad luck of the bad economy, or his own incompetence
-whether you're close friends
-whether you feel he's made prudent efforts to cut back on expenses, or is trying unrealistically to maintain he past levels
No, the bolded is not missing from the thread. The OP posted that info several times throughout the thread. He also discussed the nature of the friendship, to some extent. And I think he said his friend has trouble keeping jobs. You need to read his posts to get that info.
If you have it, and can afford not to get it back, do it....that is what friendship is about. If you can't, offer him half and let it go, or just give what you can afford. When I give money, I always assume I won't see it again, and it relieves a huge burden off of the friendship. Good luck.
Really?
Hmm. You must have some interesting "friendships".
Actually, friendship is NOT about tossing chunks of money at someone - especially when you barely know the person and they have self-destructive tendencies.
Wow this got more response than I thought so this friend is someone we do things with he comes over my wife and I like him we are indifferent to his issues at work we told him if I was his manager he would would be let go he caused too much trouble he would yell at other employees. While my wife and I talked about the money after a few minutes we quickly decided to not lend him any money, but another friend who knows us and him think we are not good friends because we would not lend him money. Do we have the money ya we make good living, and we have paid for his dinner and other things I just feel like bailing someone out who is in his late 50's and should no better again is just fueling the problem. I once had a really good friend who was in the same situation he usually didn't get let go. I lent him $2500 and even found him a job at my employer after a year of working I had to ask for the money back he was surprised I was asking at that time in my life $2500 was about 1/2 my savings. I kind of learned my lesson but still I hear all the time if a good friend is in need just give it to them.
I just found out he was able to borrow money from an old employer of all things $5000 and another $1000 last weekend. He actually is a good guy and he has great customer service skills, but he has problems with getting into arguments with other employees, and keeping his desk clean. He had a job a month ago but got let go because he didn't move to another desk argued with the lead person about it.
He is in his late 50's ? I guess I was thinking someone much younger. By the time someone is that old and can not manage their money, it is way to late to help them out. Kind of like watering your grass in a drought, it may help for a few days but it will never solve the problem.
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