A good friend asked to borrow 10k for two weeks, I know she is good for it.?

Question

My husband is afraid this may hurt our friendship. We are like sisters, I don't know what to do. Any adivse or experience would be helpful.

Answer 1

You could give me the 10k as a Christmas present and tell your friend you spent too much on Christmas this year and don't have it to spare :) Good idea?! :)

Answer 2

Bad, bad, bad idea!!!!
Your friendship will suffer just from the fact that she knows, and you know, that she's beholding to you.
You don't say why she can't borrow from a lending company. Does she have a low credit rating? Are her credit cards maxed out?
We've found that "friends" may mean it when they say they will pay you back, but they look at the debt to you (a friend) as a low priority compared to their other bills.
She says two weeks but it may become one excuse after the other and you will more than likely lose the money or sue her.
Either way, if you loan her the money, count on kissing that friendship good-bye.

Answer 3

If you are like sisters and you know she is good for it, why are you asking us? The very fact that you are, shows that you have doubts. $10,000 is a lot of money. Since she only wants to borrow it for two weeks, I'm assuming she is attempting to look as if she has more money in the bank temporarily, or something like that.

Make sure you know what she wants it for, and do get a notarized promise of repayment from her. It doesn't have to be a big deal - just something she signs that promises the money back, by a certain time.

The previous posters are correct: if she doesn't repay you, are you prepared to wave your notarized paper in small claims court? How will that affect your friendship? There is nothing wrong with voicing your concerns to her; if you two "are like sisters", then she should concur with your concerns, and be willing to cooperate by giving you whatever you need to put your mind at ease about it.

The bottom line is her personality. You know her very well. Is she a serious, honest person where finances are concerned, or is she one of those people who is actually quite shallow about money, and has a history of being somewhat fast and loose in regards to it? Careful consideration of her past behavior in regards to money will give you your answer.

Answer 4

Don't Do it..Everyone is correct when they say this is the fastest way to lose a friend. My Fiance let his Sister borrow $2600 ,3 years ago and Finally got $2000 back but not the rest. His Sister has called him all Manner of names, simply for asking her to return his money. Its not worth the Drama. Just tell your friend, You do not have the Cash right now and if you do give in, make sure she signs a Promisory Note to pay you back..

Answer 5

Ok, here is the ONLY way you can lend money to a friend. You have to lend it without the expectation of getting it back. (you don't have to tell her that you don't expect it back but you have to be ok with the idea that if she doesn't pay it back, it won't bother you) That way, if it she isn't able for whatever reason to pay it back on time, you will not feel slighted. If you are unable to do this, I would not loan her the money.

This is a lot of money. If this is going to be seriously financially disruptive to your life, I would also not do it because that will lead to hurt feelings if it is not paid back on time. I hope you can come up with a reasonable way to handle this situation that will not affect your friendship.... money means nothing in comparasin to a good friend.

Answer 6

RantingLo...gave some marvelous ideas. the only element i might upload may well be to opposite the placement and take a inspect asking him for income the previous he can ask you. something like..."Do you have the money that I lent you? i'm working slightly short this month for my charges." whether it fairly is actual or no longer does not be counted, the element is to make him understand which you won't be able to provide him money each and every of the time. And which you have issues you're able to pay for too. undergo in ideas while borrowing money to friends or relatives you mustn't in any respect assume to be paid lower back. you're able to be arranged to on no account see that money lower back. If he replaced right into a actual buddy he does not save taking income of your friendship.

Answer 7

Money has ruined many a friendship.If she is certain she will have this money in 2 weeks then she should have no problem securing a loan at the bank. If the banks won't lend her the money you should realize there may be a problem.If you value your friendship,politely decline.If she is truly your friend she will understand.

Answer 8

Lending money to a friend is the quickest way to kill a friendship. If you feel compelled to lend the money, make sure you get an iron clad contract signed for repayment.

Answer 9

I've been in a similar situation. Thankfully, they paid us back. But I don't lend money that I am not willingly prepared to lose permanently. I hope that everything works out well with your friend and her current need. You seem to have an giving, sweet spirit. She's lucky to have you as a friend.

Answer 10

I don't see a problem with it but I would draw up a contract and have her sign it. I know it isn't very FRIENDLY, but it is smart. Relationships have been destroyed because of it. Good luck!