i have a sister that wants to borrow money off me to pay off her credit cards should i loan her the money?

Question

my sister wants to borrow money from me but im not sure if i want to loan her the money cause i dont think she will pay me back cause she is so in dept and if i dont loan her the money then she wont talk to me anymore can someone help

Answer 1

do it, family is more important than money

Answer 2

Do not loan her the money. It is called enabling. She needs to pay the money back herself and if she stops speaking to you because you won't loan it, then she needs a reality check. We don't always get what we want in life and we can't pout and stop talking to people if we don't get our way.

If she were hungry or ill, then yes, help her. But if you loan her the money for the CCards, you will be strained and stressed worrying about it. Every time she buys so much as a pair of shoes, you'll be thinking that she could have paid you the $100 instead of buying the shoes. If you think not loaning the money to her will strain the relationship--wait until you do loan the money, then you will see real strain.

Be strong, seriously, it's for her own good.

Answer 3

It's never best to loan money or sell a vehicle to family or friends. If no one else has offered to help her than maybe you need to ask yourself "why?". IF she has good credit history then think about it but if she got herself into debt because she abused her credit than why do you think she'll pay you back. Just think how you'll feel if you do loan her the money and 2 months later she goes out and charges new furniture! Tell her to go to the bank for a bill consolidation loan and save what relationship you may have with her right now.

Answer 4

NO I wouldn't loan her the money. If you want to GIVE her the money then do that. If you loan it and she doesn't pay you back that will put a strain on the relationships. If you don't loan her the money she says she wont talk to you. The only way to keep a relationship with her is to GIVE her the money. I think it says something for her character and what the value she places on your relationship if she wont talk to you if you don't loan her the money.

Answer 5

I don't suggest that you lend her some money. Unfortunately when you lend someone who is really close to you (friend, family) they sometimes think that there is no obligation or time frame in which to pay it back. Money and close relationships don't mix. If you don't lend her the money, she won't talk to you. If you do lend her the money, she probably won't talk to you , since she might avoid you so that she won't have to pay the money back. Either way you are likely to run into some problems. I would suggest that you do all you can to look for places, such as credit counselors, etc. and point her in the right direction. This will show her that you care and are willing to help her. This will also teach her to take responsibility for her debt.

Answer 6

NEVER loan money to anyone, especially family. If she doesn't pay you back, you will always have resentment towards her and once you give her the money, you will have no proof that she used it for her credit cards. If you give her the money, you have no right to make sure she uses it on her cards either, because it would have been given in good faith. Just say no!

Answer 7

well I will tell you this she will not talk to you after you give her the money as well so it's a dammed if you do and dammed if you don't . but if you really what to do it then do it through a lawyer or the bank make sure there are proper forms made up and documented to save you from loosing out.you are not just giving her a little amount .
and really she got herself into this mess she can go to a bank and get out a consolidated lone that will make her payments less and less interest she may need you to cost sing for her but her cards as soon as she dose it should be canceled in you presents and not aloud to have one again till her lone is paid off if not she will ring them up again and you need to teach her how to manage her money not to come to you or any one to bale her out . and if that makes her not come around or talk t you she is not a good person but sisters will always come back when they have had time to think it over and see what you were trying to do. for her.

Answer 8

I know it's your sister but she is already in debt and has to pay that back plus pay her own bills,then you loan her money and she will be in over her head and she won't be worried about paying you back,(because your her sister and she knows you love her anyways)and always will.
Money is the root of all evil and will cause bad feelings between you and your sister.

Answer 9

Unless there is something specific in writing (Use a lawyer to come up with a repayment plan) I wouldn't give her a cent.
Whatever you do decide to do, GET IT IN WRITTING. If you can't afford a lawyer, have a notary sign it for you.
Reassure you sister that while you are in fact protecting your credit in order to help her, you're also covering you both against allegations and miscommunication issues that will come up.

She needs to get her life in order and get these loans on her own. Steady job, wise use of money and/or credit are all steps in getting her to move on

Answer 10

Never loan money to anyone if you think they won't pay it back. If you loan it to her and she does not pay it back then you two still will not be talking.

Answer 11

if she is saying she wont talk to you anymore unless you lend her the money, then she is not asking you, she is threatening you, SO i would wait until you are both in frount of your parents then tell her you cant lend her the money so she may as well stop talking, that is AFTER she has explained to your parents about her credit cards & her threat to you if you dont pay them off for her, she dosent deserve you as a sister, i wouldnt lend it to her if i won the lotto, when she was spend,spend,spend, she KNEW she would HAVE to pay it back, so she better start paying them off instead of spending,