Loaning Money To A Family Member Or Close Friend?

[The_DADDY]

Would you? I did once before and it was a substantial amount. I never saw a penny back so now I absolutely refuse to loan family/friends money and if asked I say 'I won't loan it you but I'll give it you if I can afford to lose it'. 

Since then I've given amounts to various people if the amount asked for is something I won't miss. 

What about you? Do you or would you loan family or a close friend money?

[cressida]

A long time ago my father wrote in my autograph book 'Neither a borrower or a lender be',  I think it was a quote from Shakespeare's Hamlet - Polonius.

So I don't.

[Axe]

Consider it a gift rather than a loan if you give money to a family member or a close friend. 

[Pyrotequila]

I would never loan money or agree to be a guarantor for anyone, friend or family.

 

Only lend what you can afford to lose, because there's never any guarantee you'll get it back.

[Arthur Ritus]

'lending, spending and giving away you will find employment every day but begging, borrowing and keeping your own are the finest three things to be known'.
 

The thing is the quality of person worth lending money to is the kind of person who wouldn't ask and offering could cause some embarrassment, my excuse any way.

[Al Bundy]

I have and would again, but I would rather not.

[Prettytom]

I’ve done it. I lent money to an old and very trusted friend to help him to get a business off the ground. It was a fair sum of money, so we drew up a legal contract, with repayment schedules etc. 

 

Worked well. I got a bit more interest than the bank would have paid. He paid less interest than the bank would have charged.

 

The business was a success too. 
 

It is a risk though, you’ve got to be sure of the person you’re dealing with and also able to cope with any losses.

[Padders]

I was once in the queue in the works canteen.

In front of me was a colleague paying for his breakfast, and he was a penny short....

He turned to me and said "Lend us a penny"

I did!

The next day I asked him for it back, and he threw a right wobbler.

I've never lent money since, I learnt the hard way.........

[Irene Swaine]

3 hours ago, The_DADDY said:

Would you? I did once before and it was a substantial amount. I never saw a penny back so now I absolutely refuse to loan family/friends money and if asked I say 'I won't loan it you but I'll give it you if I can afford to lose it'. 

Since then I've given amounts to various people if the amount asked for is something I won't miss. 

What about you? Do you or would you loan family or a close friend money?

Family, yes. Friends, no. That said if I had a friend who was homeless, I'd let them sleep in my conservatory and give them some food.

[crookesey]

Speaking for myself I took great advantage of my loving and giving family when I was young. I thank God that I was able to pay them back in kind when they were elderly and needed my help, such is family.