If A Friend Wanted To Borrow A Large Amount Of Cash And You Could Afford It, Would You Lend Them The Money?

Question

1.Would you really lend it, no problem but get a repayment agreement signed ?
2.would you worry about it and say no anyway ? or
3.Would you just say no, knowing it might risk your friendship.

Answer 1

It really depends on how good of a friend it was and what the money was for. I would def. get an agreement signed. You can't trust anyone these days.

Answer 2

1

Answer 3

First it would depend on the kind of friend that person is. If it is a true friend who has always been there for me, of course I would consider saying yes. Secondly, I would want to know what use he or she would put the money to, as a lender I would have that right. Thirdly I would ask for a repayment agreement signed, but I would want them to be comfortable with the amount they were paying back.....because I would charge a little interest. A business deal between friends. My dad used to say neither a lender or borrower be.......but I could make exceptions. If a person is really in need, they will agree to your terms, so you have to be careful that they are agreeing to something that they can actually keep.

Answer 4

I agree with Dave. Even though this is a tough time, asking for money means you don't have enough to take care of yourself. You say to those you want money from, "I just need enough to..." and they give you just that. Then when you've spent that money that just barely solved your basic problem, which will be a while, they will need it back. Situation #1: Your bff/family could say, "okay, since she's going to give the money back soon, i will plan to do this, that and the other." Then when that time comes and you don't have the money, they will turn on you. Situation #2: So everyone's laid back and they know that when you get the money you will return it. But once you start earning it from the job i'm quite sure you're going to get, it will feel like an absolute LUXURY. You want to go eat out to celebrate your success, maybe go shopping... next thing you know you're on people's court explaining to Judge Milian that you still didn't get the money and your lenders are being impatient. It happens EVERY TIME, honey. xoxoBabexoxo

Answer 5

If they are coming to you for money then they have a bad or no credit rating.How important is it to you to get your money back? If it is not important then lend. but if it is (and should be) then say no as I have never seen a friendship survive the borrowing and then maybe return of money. You can get all the papers in the world but they will either pay back or not. And paper is only going to be the you will end up with. You can not get blood out of a stone. And courts are not always on your side, as they will say you could have said NO

Answer 6

If my friend was truly in need and I could afford to lose the money. Yes I would give it to them. However, I would only do this if repayment wasn't necessary (meaning if they never paid me back, it wouldn't hurt me financially). Those situations usually end badly, because the friend can't repay on the schedule or the friend that lent the money really can't afford to be with out it. I'm not willing to lose a friend over money. It's not worth it to me.
I was always told when I was growing up: Never lend money to a friend unless your willing to lose the money or the friend.

Answer 7

Never ever lend money to a friend, it will more than likely damage the relationship. If they need money, especially a large amount, there is more to it. I think by you saying you could afford it, gives a clue as to why they are asking you! People don't need large amounts of money unless there is some type of risk involved.

Answer 8

I did do it and I'll never do it again. Because of doing it I ended up having to file for bankruptcy. I kept good records and was able to prove to the bankruptcy judge this was the only reason for my filing. The judge hired an attorney to go after my friend who then also filed for bankruptcy. A year later, my friend also leached out on his payment agreement with the court which opened my case back up because my judge then confiscated all his stuff to pay my creditors. All in all, because of the circumstances, it really didn't hurt my credit that bad but talk about a major pain in the butt!

Answer 9

I agree with Violet Pearl, Its true dont lend the money if your expecting something in return, just be a good friend and lend them the money even if you dont know what its for, those are the sort of things that prove that you are a good friend.

Answer 10

#1 it depends on whether or not you're really good freinds with the person and if they really need it.
#2 If they don't pay you back will you be able to do without the money you've lost.
If someone was a good friend of mine and I could afford to give them money if they really needed it, I would give it as a gift so that I don't have to worry about getting it back.