she say she will pay me back and 3 yrs.
please I need your answer
2007-12-15 07:13:36 · 64 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Never mix friendship and finances. You run the risk of loosing both in a single transaction.
If she has real estate or other attachable assest that are worth more than the money, then I might make an exception.
2007-12-15 07:25:21 · answer #1 · answered by Pragmatism Please 7 · 2⤊ 0⤋
I wouldn't borrow $45,000 to her.
I'd better invest and get high returns.... I run my own business and my net profit is over 5% a month. So in 3 years I could get back at least $184,320.
But this would be my choice. You must make your own choice and either lose $45,000 and a friend or stay with the same sum of money (minus inflation rate!) in 3 years. Don't you know that money ruins friendship?
Best of luck!
2007-12-15 15:11:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I run my own business and my net profit is over 5% a month. So in 3 years I could get back at least $184,320.
But this would be my choice. You must make your own choice and either lose $45,000 and a friend or stay with the same sum of money (minus inflation rate!) in 3 years. Don't you know that money ruins friendship?
2014-11-06 09:29:51 · answer #3 · answered by Anonymous · 0⤊ 0⤋
WOW...that's alot of money!
So you have to ask yourself this - would YOU ask your friend for $45,000? And what would you expect HER answer to be?
Personally - I would say no, but offer to help her find the money by exploring online loan options? Or maybe determine the need for the money? Maybe there's other options that she may not be aware of.
If you have the money to lend that's great...but the question is...do you have the money to loose?!
Yes she's your friend...but look at it this way...if your friend can't pay her bills 6 months, to a year down the road...you aren't going to wreck her credit rating like a credit card company, so who is she going to pay first?! Them, not you...
You already know the answer if you're posting it here....
2007-12-15 07:20:00 · answer #4 · answered by tressi_74 1 · 0⤊ 0⤋
Do you have $45,000 to lend?
Are you willing to loose $45,000 and the friend if they don't pay it back?
If the answer to either of these is NO, then you should just say that you do not have that money to lend right now. Also, do not get talked into Co-Signing a loan if she asks.
2007-12-15 07:18:04 · answer #5 · answered by OC1999 7 · 2⤊ 0⤋
No. Things happen, and sometimes you don't get paid back under the best of circumstances. You might as well make it a gift if you do lend it to her, because she could become mad at you over nothing and all of a sudden you aren't friends any longer. It is hard enough lending family members money and expect to be paid back. It is better to not let anyone know how much money you have because of others wanting to "borrow" it.
2007-12-15 07:18:53 · answer #6 · answered by Sparkles 7 · 0⤊ 0⤋
Well I would have to say that I am sorry I couldnt lend you that amount of money. If she says she cant get the money from a bank due to bad credit then whos to say she is going to pay you back friend or not? If you have the money and you want to lend it to her then go and speak to a solicitor who can advise you on how to draw up a legally binding contract. Think about the worst case sinareo where she stops being your friend if you lend her the money with no guarantees or even with guarantees then you will have to chase her for the money. She could go bankrupt and not pay you back and you will have lost £45k. If it is a bank that lends her the money and she went bankrupt with them they have the power to stop her getting credit and also £45k is not a lot of money to a bank compared to you. I always think of the worst case sinareo and base my answer on it.
2007-12-15 07:28:13 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Since I don't have 45,000 to let someone borrow I would say no... but even if I did have the money I would still probably say no.
2007-12-15 07:21:26 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It is not help you need, it is a new set of brains. Do you not know yet that lending money to a friend is the surest way to lose both the money and the friend.
Just say "Sorry (Jane, or whatever), I do not have the ready money, but even if I had it, I value our friendship too much to lend it to you. It is the surest way to lose a friend. Then directly change the subject.
2007-12-15 07:34:48 · answer #9 · answered by Anonymous · 0⤊ 0⤋
That is a lot of money. Does she have collateral like a house or something(s) that is(are) worth 45K? If you decide to do it, go to a lawyer and have a contract drawn up that specifies monthly payments and that you have the right to take her collateral if she defaults on the loan. Treat is as a business investment. Let her know that you view it as an investment not 5 bucks between friends.
But, personally, I wouldn't do it anyway.
2007-12-15 07:30:58 · answer #10 · answered by Jeanne R 7 · 0⤊ 0⤋