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Forum » Loaning Money To Friends?
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Thread: Loaning Money To Friends?

post 1678494013 03-07-2023, 07:44 AM
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Loaning Money To Friends?

A friend called and asked me for a small loan (12k). He is battling insurance over a house fire that started at his place.

Without a second thought I was going to send it.

What's your experience? Would you do it?

EDIT: Update in Post #36
Originally Posted By LogicalLifts⏩
Yeah, screw it. I sent the funds, we have a written agreement that it'll be paid back by August.

Time will tell I guess.
post 1678494093 03-07-2023, 07:45 AM
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well dont call it a loan because you arent getting it back

its fine if you wanna gift your friend $12k, but don't ever loan it to them, it'll ruin your friendship
post 1678494203 03-07-2023, 07:47 AM
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Originally Posted By batmanman⏩
well dont call it a loan because you arent getting it back

its fine if you wanna gift your friend $12k, but don't ever loan it to them, it'll ruin your friendship
This.

Only loan to family like your mom or brother. Even then its kinda sketchy lol.
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post 1678494233 03-07-2023, 07:48 AM
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I never lend friends money I expect to have returned.

12k is far too much to even consider IMO unless the guy is like a ride or die someone you've known your whole life. I'd also get it in writing that it's a loan and he needs to pay you back by x date just in case.
post 1678494273 03-07-2023, 07:48 AM
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Let's be real. The only reason you made this thread was to subtle brag that you can supposedly wipe your assss with $12k like it's no big deal to you.
post 1678494393 03-07-2023, 07:50 AM
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Originally Posted By batmanman⏩
well dont call it a loan because you arent getting it back

its fine if you wanna gift your friend $12k, but don't ever loan it to them, it'll ruin your friendship
That's an interesting take. Why? This dude is basically fighting with his insurance company after a house fire, whether some windows will get replaced as well, and rather than wait a few more months for the payout he asked me (in addition to using his own funds) to help boost a bit.

12k doesn't go a long way in house repair after a fire, as many folks who own homes know. It seems reasonable to me.
post 1678494433 03-07-2023, 07:52 AM
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What do you value more. The 12k or the friendship with your friend?

Only loan money to friends and family if you can cope with the possibility of them never paying you back ( for any reasons not necessarily because they refuse to do so)

So yeah loan the money to him only if you're OK with giving up that money. Otherwise it's just going to be a strain on your friendship.

A good friend is worth way more than 12k tho
post 1678494493 03-07-2023, 07:53 AM
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Originally Posted By northernlights7⏩
Let's be real. The only reason you made this thread was to subtle brag that you can supposedly wipe your assss with $12k like it's no big deal to you.
Based
post 1678494533 03-07-2023, 07:53 AM
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Have you ever loaned money to someone whichwasn'ta bitch to get back?
Back off, Warchild.

Seriously.
post 1678494593 03-07-2023, 07:55 AM
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12k? how close are you with your friend? Lol don't expect to get it back if you're not that close with them.. so it won't be a loan.

I'm 35, and mostly have acquaintances, and 3 really close friends. These are best friends I've known since middle school srs.

If they needed 12k I'd send it to them with no hesitation wouldn't even ask for it back, because we're brothers mane we've all helped each other out a lot in the past.

Lol I'm closer to them than some of my family members.
post 1678494673 03-07-2023, 07:56 AM
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Originally Posted By LogicalLifts⏩
That's an interesting take. Why? This dude is basically fighting with his insurance company after a house fire, whether some windows will get replaced as well, and rather than wait a few more months for the payout he asked me (in addition to using his own funds) to help boost a bit.

12k doesn't go a long way in house repair after a fire, as many folks who own homes know. It seems reasonable to me.
If he doesn't return it soon will you fire him as a friend, or can you take a delay or loss?
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post 1678494753 03-07-2023, 07:59 AM
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Originally Posted By batmanman⏩
well dont call it a loan because you arent getting it back

its fine if you wanna gift your friend $12k, but don't ever loan it to them, it'll ruin your friendship
This.

If this is a true friend, cut the check and forget about it. It's not remotely close to life changing money.
post 1678494863 03-07-2023, 08:01 AM
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Originally Posted By batmanman⏩
well dont call it a loan because you arent getting it back

its fine if you wanna gift your friend $12k, but don't ever loan it to them, it'll ruin your friendship
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post 1678494943 03-07-2023, 08:03 AM
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Originally Posted By batmanman⏩
well dont call it a loan because you arent getting it back

its fine if you wanna gift your friend $12k, but don't ever loan it to them, it'll ruin your friendship
Originally Posted By theory816⏩
This.

Only loan to family like your mom or brother. Even then its kinda sketchy lol.
^^^
These.
Originally Posted By LogicalLifts⏩
That's an interesting take. Why? This dude is basically fighting with his insurance company after a house fire, whether some windows will get replaced as well, and rather than wait a few more months for the payout he asked me (in addition to using his own funds) to help boost a bit.

12k doesn't go a long way in house repair after a fire, as many folks who own homes know. It seems reasonable to me.
So the other side of this is why can't your friend get a loan somewhere else if the expectation is that insurance will pay sometime soon? If it is because his credit is poor that doesn't bode well for you getting repaid. If you are wealthy friends who have less may feel like it is okay to stall and not making repaying you a priority.

If you really must then perhaps use some sort of website for small loans w/payment schedule and interest on the money that will send him a monthly bill so you don't have to.
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post 1678494973 03-07-2023, 08:03 AM
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Originally Posted By northernlights7⏩
Let's be real. The only reason you made this thread was to subtle brag that you can supposedly wipe your assss with $12k like it's no big deal to you.
Correct. It's his whole shtick as a poster.
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post 1678495153 03-07-2023, 08:05 AM
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Originally Posted By northernlights7⏩
Let's be real. The only reason you made this thread was to subtle brag that you can supposedly wipe your assss with $12k like it's no big deal to you.
Simmer down, no reason to be so bitter this morning is there?
Originally Posted By Bodhy⏩
Have you ever loaned money to someone whichwasn'ta bitch to get back?
I haven't really been asked to do this before, as most of my friends do very well in life as well. But this one had a few disasters recently, including a house fire that seems to be....his wife's fault....so he's trying to get what he can from insurance, and is even having to delay his retirement now. I do feel for him.
Originally Posted By ZeGermans94⏩
12k? how close are you with your friend? Lol don't expect to get it back if you're not that close with them.. so it won't be a loan.

I'm 35, and mostly have acquaintances, and 3 really close friends. These are best friends I've known since middle school srs.

If they needed 12k I'd send it to them with no hesitation wouldn't even ask for it back, because we're brothers mane we've all helped each other out a lot in the past.

Lol I'm closer to them than some of my family members.
We are close, so when I was on the phone with my wife this morning and brought it up she just did the "eh, poor guy, help him". So I'm on the 'no hesitation' path, but why wouldn't you ask for it back? This isn't the Sopranos...he said he'd pay it back in August which seems fine to me.
post 1678495163 03-07-2023, 08:05 AM
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Originally Posted By northernlights7⏩
Let's be real. The only reason you made this thread was to subtle brag that you can supposedly wipe your assss with $12k like it's no big deal to you.
OP is in this niche group of late 2022-2023 join dates who claim big numbers, share nothing of their lives with the community, and yet seemingly lack real-world knowledge you'd expect someone to possess if they were pulling the claimed numbers
post 1678495203 03-07-2023, 08:05 AM
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Hell no I am not lending someone $12,000.

If he can borrow the money from you and pay you back in a couple months, he can put it on a credit card and pay the card off in a couple months. Why does he need cash for home repairs?
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post 1678495293 03-07-2023, 08:07 AM
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I wouldn't even think of going to a friend to ask for $$$$. Banks are there for a reason.
post 1678495303 03-07-2023, 08:07 AM
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Originally Posted By LogicalLifts⏩
A friend called and asked me for a small loan (12k). He is battling insurance over a house fire that started at his place.

Without a second thought I was going to send it.

What's your experience? Would you do it?
Wwjd but at same time don’t expect nothing back but hope for it lol
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post 1678495443 03-07-2023, 08:09 AM
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Not a chance.

I had a "friend" I hadn't talked to in 2 years randomly hit me up asking for a rent payment of 1400 because he was between jobs. When I said I didn't have that laying around, he then started to inquire about my new truck I just purchased. It'll just create animosity, and anyone asking for that amount of money isn't a friend, they're a leech.
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post 1678495713 03-07-2023, 08:14 AM
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Originally Posted By katya422⏩
So the other side of this is why can't your friend get a loan somewhere else if the expectation is that insurance will pay sometime soon? If it is because his credit is poor that doesn't bode well for you getting repaid. If you are wealthy friends who have less may feel like it is okay to stall and not making repaying you a priority.

If you really must then perhaps use some sort of website for small loans w/payment schedule and interest on the money that will send him a monthly bill so you don't have to.
I think for him it is a fairly casual amount of money too, and this amount isn't an issue for me, no. But this thread isn't really about subjective amounts and financial positions, sadly the insecure crew is out in force in their office cubicles this morning. The thread is about intention/action. It says a lot that these supposed intellects miss the forest for the tree that is their personal insecurity.

Originally Posted By Destor⏩
OP is in this niche group of late 2022-2023 join dates who claim big numbers, share nothing of their lives with the community, and yet seemingly lack real-world knowledge you'd expect someone to possess if they were pulling the claimed numbers
You're in the niche group of folks that have always followed me around, frothing at the mouth regardless of what I post. I'll indulge you this time: what "real-world knowledge" do I lack, that you think I am accountable for in terms of "sharing with the community" here? Hint: you don't speak on behalf of the community, have a care with your ego.
post 1678495813 03-07-2023, 08:15 AM
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My grandpa always told me If you must loan money to someone treat it like a donation. Incase for any reason it doesn’t come back it should affect your life too much. I have seen so many people lend money and that money never comes back and they really depend hard on it You end up losing a lot of friends and family too
post 1678496003 03-07-2023, 08:18 AM
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I'd only give what you're willing to not get back..
post 1678496103 03-07-2023, 08:20 AM
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Originally Posted By LogicalLifts⏩
I think for him it is a fairly casual amount of money too
Apparently not if his wife had to ask you to lend it to him. If it's a casual amount he should be able to call up his bank and say "give me 12k extension on credit" and it would be done the same week. Why would he have to ask a friend?
post 1678496163 03-07-2023, 08:21 AM
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Originally Posted By WoofieNugget⏩
Apparently not if his wife had to ask you to lend it to him. If it's a casual amount he should be able to call up his bank and say "give me 12k extension on credit" and it would be done the same week. Why would he have to ask a friend?
It's my wife, dude. I wrote that clearly: "I was on the phone with my wife..."

I wanted her take, too.
post 1678496213 03-07-2023, 08:22 AM
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Never loan a friend money expecting it back crew
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post 1678496513 03-07-2023, 08:26 AM
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post 1678496683 03-07-2023, 08:28 AM
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Hey LogicalLifts, ur a douche for judging us for escortmaxxing. consider roping srs
post 1678497003 03-07-2023, 08:32 AM
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Expect to not get it back and give it to him if you can deal with that.

I lent 3500$ to my manager like 15 years ago (3500$ seemed like a lot of money back then)… Anyways, he did pay me back, but it took him like two years and it was always awkward..
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