Letting a friend borrow some money

[cavemanmoron]

Originally posted by: Aimster
I don't trust anyone 100% in this world except my family....

Does it matter what he signs? I'm just going to write something on paper and tell him to sign it.

have him sign it in Blood,his own!!

 

[gregshin]

its called a beer and a handshake...you guys are some cheap stingy mofos...if my friend asked me for money i'd give it to him...my some friendships are worth more then money to me.

 

[GasX]

If you are loaning your money to a firend, you should not need ANY sort of guarantee.

If your friend is asking you for money, you should question what type of friend he is.

 

[Kev]

just write off whatever amount you just lent him and consider it a bonus if he ever pays you back any portion of that money.

 

[gsaldivar]

Originally posted by: Demon-Xanth
If you loan money to family or friends. Consider it gone. Any attempt to force a collection will pretty much kill any relations that you had with them.

Good advice. :thumbsup:

 

[mchammer187]

damn you guys must have some $hitty friends

i have lent out over a thousand dollars some before and never have they failed to pay me back

i have also borrowed a few hundred before

this was all in college and now that we have all graduated and moved on this hasn't really happened but it doesnt mean that I wouldn't

 

[zerocool84]

yup im stupid i lent $200 to some girl i was seeing about 3 months ago for a car she was going to buy, now i dont even talk to the girl.........i am a stupid man

 

[effee]

I would look at his situation, does he have a stable job, house, car? If he's stable enough, his chances of paying you back are high, then giving a loan to him would not be too bad. But like some poster said, if its a large sum, to me which is anything more than 1k. have a document drawn up, signed and with a witness.

 

[DAGTA]

I'm in agreement with Skoorb. I have no problems loaning my friends money with only a verbal agreement, and I don't charge interest. If they don't pay me back, then I know what the value of my "friend's" integrity is and it was money well spent. I will never loan that person money again and he/she will be placed lower in my friendships.

I've loaned out thousands of dollars in the past few years. About half of the people repay me. It's an easy way to find out who really cares about your friendship and who doesn't. Besides, like someone else said, you can't take it with you.

 

[So]

I only loan $$ to people expecting not to get it back. That said, I loaned a farily close friend $100 ~1 year ago, and although he did not pay me back in a timely fashion, I did get my money back around christmas (originally promised it end of summer, but I got $20 interest).

So it depends on the person. Some people have a deeply held belief that they shouldn't mooch. Those are the people who you can loan money to from time to time, but still, there is nobody who you can expect to give you back money exactly on time.

 

[SLU MD]

i just lent one of my friends 500 bux today. i'm not worried about it. i'm sure he will pay me back. and i'm not charging interest, thats just rediculous. If you are not sure he will pay you back, maybe you should reconsider your friendship. clearly he's not a close enough friend. I guess I know that my friend isnt a deadbeat either, so that eases my mind.

 

[sixone]

Give him the money if you want, but don't ask him to sign anything. If he's the kind of person that will pay you back, or not, no piece of paper will make a difference.

You didn't indicate that he's in need; if not, you are under no obligation to give him money. If you aren't sure it's a good idea, don't do it. If you do, consider it a gift and let it go.

 

[markgm]

I'd have to agree with the statement, never loan money.

On the other hand, I needed 12k to put down to hold a house and a stranger at work let me borrow the money on a handshake. He got paid back and I close on my house in 30 days...

 

[NuclearNed]

It happened to me - I loaned a really good friend a fairly small amount of money - around $200 - $300. I never saw most of the money again, and the relationship soured. Its kind of sad, because other than this issue we were really good friends.

I have never done business with family or friends that I didn't end up feeling loads of regret. Maybe all the people I know are really lame.

 

[SammyBoy]

If you have to make your friend sign a piece of paper before you're comfortable lending him money, it's obvious YOU ARE NOT COMFORTABLE LENDING HIM MONEY. So don't.


But seriously....you people need some better friends.

A buddy of mine owes me $800 and has owed me over $400 for over a year, it sorta ebbs and flows up and down. Not a problem...he's a good friend, when he has the money he'll pay me.

I borrowed $200 last week at a poker game from a guy I know solely through poker but am friends with, he knows I am good for it and next time I see him I'll pay him.


I also have lent out money to a few other people...

Just added it up in my head, I think im owed $1300 around town and i have around 2 grand in the bank. Whatever, everyone's good for it. There is one shady debt I sorta inherited for $240 that I might have to wait a few months to get paid on, oh well I'll get it.

 

[shilala]

If someone is so broke that they can't finance a vehicle, there's a reason for it.
To "help" them is senseless, unless you're willing to outright buy the vehicle.
If the friend wants to borrow a 20 spot, I say by all means, do it.
More than that, tell them to see a bank. (They obviously won't get it because they aren't credit worthy).

 

[gopunk]

there's a website out there that will take care of the legal issues... make it official and all that. they take a sizable chunk though :|

i think this was it

 

[Phoenix86]

Loan them whatever it's worth to find out if they are good friends, and you can afford to never see again.