Relatives who Borrow Money
December 30, 2006 9:17pm CST
What do you do when a relative borrows money -- a lot of money -- and then doesn't pay you back? I'm not sure how to bring up the subject.
• United States
31 Dec 06
This is exactly why I would not lend a great deal of money to a family member or a friend. I know, I sound as if I'm selfish and cold-hearted, but this is too often the outcome of lending money to those who are close to you, and I don't want to put myself in a position of having to choose between my principles of right and wrong (if they borrow, they should pay it back) and a relationship with a family member or friend. I would never be able to ignore it if I felt that I had been taken advantage of, and it could get ugly... It's easier for me to say that I am not in a position to help them out. But in this case, if you've already lent the money, if it were me I would directly ask about it. Ask if they want to set up some kind of "payment plan" to make it easier on them if they are having trouble. It's a tough situation to be in, that's for sure.