Would you loan money to friends and family?
July 27, 2007 3:24pm CST
If you had it would you do it? Why or why not? The reason I ask is because almost 2 years ago I came into some money. I helped out myself and my family,then I loaned some money to a friend and then to a sibiling of my husbands. the freidn didn't pay me back until the first of this year and the sibiling or my husband's hasn't even made one payment. I loaned them over $800 to buy a car which they never did. Then they fell on hard time lost job stuff like that and I let it go,hoping when things got better they would start making payments. Well I just found out they baught a car(used not sure what was paid) and then a dog that costs over $300! I am mad I talked with them and still haven't gotten an answer yet to the loan. This lesson has made me not what to loan money to family or friends gain,at least not those people,burn me once and your done. Am I right in this? What would you do?