yes or no and what's the maximum you would lend. A friend is asking for a 5 thousand dollars loan. He used to make 6 figures like me but has been out of job for more than 6 months now. He'll most likely get another 6 figure job once our industry pick up which is probably early to mid next year. Right now he's working minimum wage to make ends meet because his unemployment is gone after 6 months. I want to help him but 5 thousand seems a lot. He's a stand up guy though so I'm sure he'll pay me once he get his job back.
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Do you lend friends money?
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I've lent friends all the time, I actually helped one of my friends $10,000 and refused to take anything back cause I do good, I own a few buisness's and they run themselves I just chill at home
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It depends. I have friends who I have lent money to and they didn't pay me back. I'm still friends with the person but I will never ever lend them money again. I also lent my brother 5K about 3 years ago and his wife has been paying back in small increments of $120 per month. She has never missed a payment and I wouldn't mind loaning them money again.
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Originally posted by Sadiqkingofko View PostI've lent friends all the time, I actually helped one of my friends $10,000 and refused to take anything back cause I do good, I own a few buisness's and they run themselves I just chill at home
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Originally posted by B.UTLER View Postyes or no and what's the maximum you would lend. A friend is asking for a 5 thousand dollars loan. He used to make 6 figures like me but has been out of job for more than 6 months now. He'll most likely get another 6 figure job once our industry pick up which is probably early to mid next year. Right now he's working minimum wage to make ends meet because his unemployment is gone after 6 months. I want to help him but 5 thousand seems a lot. He's a stand up guy though so I'm sure he'll pay me once he get his job back.
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Originally posted by BostonGuy View PostSome additional advice: maybe you can set it up as a formal promissory note that bears interest and is to be paid back in monthly payments over a specified period of time.
We do have a lot of loan sharks in my country with interest of up to 20% per month.
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