Would you ever loan money to someone, especially if it's a large amount?
By Lena Kovadlo
@lovebuglena (52213)
Staten Island, New York
February 28, 2018 2:44pm CST
Sometimes people may approach you and ask you to loan them some money. It can be a few bucks, twenty bucks, a few hundred bucks or more, or even thousands. Would you loan people the money they ask for or respectfully decline?
For me, it would depend on how much money people want to borrow and who is asking for it. I don't mind loaning someone, say twenty bucks, but when it's a large amount I have a problem with that, no matter who the people may be.
Regardless of who I am asked to loan money to (family, friends, or just people I know, etc.) how do I know that these people will give me back everything they get from me, if at all? Also, if they want to borrow a large amount that means they don't have it, so how do I know they will have it later on to give back to me?
It's a risky thing to do to loan someone lots of money. And I am not sure I'd ever do it, except maybe if my parents were the ones who asked.
But if someone takes a risk and loans someone a huge sum of money, there should be a written letter that is signed and notarized that includes the amount that was borrowed, who borrowed it, the date the exchange took place, and when it should be given back. This way, if the person doesn't give back the money there is proof that he/she borrowed it, and maybe then some legal action can be taken to get the money back.
6 people like this
7 responses
@lovinangelsinstead21 (36847)
• Pamplona, Spain
28 Feb 18
Difficult one for me as I don´t have much to loan to anyone.
But if I did have plenty of cash I would still think twice about loaning it.
Reason is when I have asked for money which was only ever once I was refused it and it was only five british pounds.
So it makes me think twice about being so generous.
If it had been my parents I would have gladly given it to them or loan it and forget almost about getting it paid back.
2 people like this
@lovinangelsinstead21 (36847)
• Pamplona, Spain
1 Mar 18
@mydanods
No it was my brother actually and I asked him to borrow me so little and the amount of times I lent him money and he never paid me back at all.
I thought he was going to have a fit when I asked him for a measly five pounds and that was then.
Yes people loan and sometimes get paid but this made me more wary after that.
1 person likes this
@lovebuglena (52213)
• Staten Island, New York
28 Feb 18
With loaning there is always a risk of never getting the money back. Would you be okay with potentially not getting it back?
1 person likes this
@dodo19 (48198)
• Beaconsfield, Quebec
28 Feb 18
@lovebuglena If it's someone I'm close to, then yes. I would be okay with it. I wouldn't be too picky about it.
1 person likes this
@akalinus (44366)
• United States
28 Feb 18
@lovebuglena It sure is. It is always a struggling family member or a scamming friend.
@lovebuglena (52213)
• Staten Island, New York
28 Feb 18
To ask someone for money, never give it back, and then ask for money again is just wrong.
1 person likes this
@lovebuglena (52213)
• Staten Island, New York
28 Feb 18
@mydanods Just because someone happens to be your family member or a friend doesn't mean you need to loan them the money. If you are rich, and potentially don't mind never seeing that money again, you can give it. Otherwise, you can decline to do it.
1 person likes this
@lovebuglena (52213)
• Staten Island, New York
28 Feb 18
@Kandae11 Sometimes I think about who is more likely to give back the money they borrow from someone - a family member or just someone they happen to know? And then I think that perhaps a family member is less likely to give the money back because he/she might think "well, I don't have to give it back because we're family..."
1 person likes this
