2006-08-26 13:44:53 · 30 answers · asked by Anonymous in Family & Relationships ➔ Family
Only if you really pay it back.
2006-08-26 13:47:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Are you known to be a person of your word? Have you borrowed money before and paid it back in a timely fashion? Do you have income so you'll be able to pay back the loan? Even if you answer yes to all these questions, I would suggest you research other means. Depending on your age, have you thought about a personal loan from your bank? If you're a college student, have you considered a student loan? How about a part-time job at night or on the weekends? Maybe you get an allowance from your parents. If so, you can work out a deal where you can pay a certain percentage of your allowance until the loan is paid off. One last thought, is what you are wanting to do with the money a need- to- case or is it something you can save up for and purchase at a later date - no strings attached. Just remember, not repaying back a loan from a family member could create hard feelings and lessen your chances for being seen as an honest person. If you do end up taking a loan from a family member, stick by your promise by repaying A.S.A.P.
2006-08-26 15:19:01 · answer #2 · answered by marcy w 2 · 0⤊ 0⤋
All depends. My youngest sister has borrowed money from both myself and my oldest sister. Can't pay it back and probably never will. Kind of embarrassing if you ask me. But I have known families where it works out. My general suggestion is that it is only good for emergencies like unemployment and not for business. It is going to cause trouble if the business fails or if there is a disagreement in how it should be run, especially you are the one borrowing and the relative loaning it is a know-it-all.
2006-08-26 13:50:42 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The key word is Borrow. Borrow means you pay them back.
If you do not pay back a relative they will never forget, and you can't get rid of them. They're relatives!
If you borrow from any relatives you should put down in paper, how you are going to pay them back.. And pay them back with interest.
Just because they're relatives doesn't mean that you can take advantage of them.
2006-08-26 13:49:49 · answer #4 · answered by Dr. D 7 · 1⤊ 0⤋
If there were any other way from it, I wouldn't do it. I haven't borrowed money from family, but both my brother and sister have borrowed from me. I got it back real quick from my sister, but I haven't seen a dime from my brother. With family, it's hard to set a time to be repaid. I mean, you think about them having to borrow it cause they need it, so how do you know when is a good time to tell them to pay it back? Don't risk it if you can help it.
2006-08-26 13:53:48 · answer #5 · answered by Slam64 5 · 0⤊ 0⤋
Well it depeneds on who.If it was a super-duper honest,and trustworthy relative maybe yes.But I personally would'nt borrow money from relatives,because when it comes to money,people wold do anything for money,and sometimes familly members seem cool one minute,and then the next all of that changes.Believe me I know!Things aren't alwasy what they seem so you have to be careful.You could get inot an argument about money,and you could drift away,and loose trust in eachother over something that simple.But from my point of view I would'nt!
2006-08-26 13:51:21 · answer #6 · answered by Vonie 3 · 0⤊ 0⤋
We lend in our own family, small amounts. Sometimes we trade things, or if the lender needs money, between all of us, we try to help each other. We've learned that just taking it without asking is a NO-NO! If we borrow from gramma, we pay it back in case we want to borrow from her again!
2006-08-26 14:19:56 · answer #7 · answered by mabell1025 3 · 0⤊ 0⤋
it depends on if the relative actually expects you to pay it back. If they expect it back no it's not ok, if they don't then it's ok. I don't mean that in a greedy way but if you can't pay it back for some reason are they no longer gonna be your aunt, are they gonna hold it against you for the rest of your life the way some "friends" do. if the answer to those is no than yeah it's ok.
2006-08-26 13:49:28 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It must be as mine often barrow; oops sorry it wasn't loans but options they say. Me being their only option.
If they have the money and you have the need I would think so. If you pay it back it is not any more than them borrowing from you or from their parents at one time.
I just got corrected by another relative who says she never barrowed a dime from her parents in her life. (she inherited it all:):). not to mention her options form me:)
2006-08-26 13:53:09 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I think that it's okay to borrow money from them as long as you remember to pay them back.
2006-08-26 13:57:18 · answer #10 · answered by Lady S 6 · 0⤊ 0⤋
Nope
2006-08-26 13:46:49 · answer #11 · answered by slandguy 3 · 0⤊ 0⤋