Would you?

[poker123]

this is true. So example .. if a friend asked me for a couple hundred bucks I'd give it to them ... but if they asked for a couple thousand I'd loan it to them ... with a repayment agreement in writing. Even if it were family. And because they love me they would sign it.

Right. The one thing I might want to respond with is that amount of money shouldn't matter. I don't care if I lent you $50 or $5k. I want it payed back either way if that was the agreement. You're setting a bad precedent if you're just letting it go because it was a small amount of money.But yeah just being honest is the biggest thing.

Also, I don't want to insinuate that this is how you think (with regard to letting it go if it's a small amount of $) Jessica, your post just made that thought pop into my head.

 

[Imperius]

There are a lot of ways people can borrow money these days... lines of credit, bank loans, credit cards, even payday loans. So if one of my friends was to come to me asking for a loan, I would guess they are in pretty deep debt already since they would likely go to one of those other sources before swallowing their pride and coming to me.

Since my profession includes helping people get out of debt, I would work with my friend to review the situation and possible alternatives before giving them any money. From my experience, rarely is more money the solution to the root problem.