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?

depends if he's good for it. i've lent money to friends before and never gotten back nothing big like 12k but it's still a matter of principle

Lol

Its only a bitch getting repaid if your friend is a scumbag, I have friends who i would give that money to instantly, one because I've known them 15 years, but also because they are always good and honest when it comes to money and everything else

I have a small handful of friends I've known for a really long time who I'd do that for.

The one I've known the least has been for almost 25 years now so that goes to show I wouldn't do that for some "regular" person.

I loaned $700 to an Aunt of mine and she never paid me back. Six years later, she didn’t even remember that I loaned it to her.

Depends on the friend I guess.


To be honest I would only do that for brothers/cousins and would jump at the opportunity to help out even if they wouldn't ever pay back.

I guess my closest friends are actually bros, damn that sounds lame but it's better that way.

I'm aware, OP, lol.


But I recently felt the pain in the kunt of loaning money to people. Back in early September another grad student wanted me to front him the plane fare for us to travel to a conference. He asked if I could include him in my prescribed doctoral student funding. I said I'd have to double check to see if I could include someone else in my funding but couldn't make a promise. It took about a week to find out in which time the airfares may have gone up a tad. But it was still two months out so it wasn't like last minute or prohibitively expensive or anything.

And the dude still borrowed my money and said it was fine and he'd pay me back. About $310 loaned in total. Since I had his promise I thought it was fine. 3 months after I still hadn't received a cent, so I politely followed up on it.

He immediately gets defensive and tries to contrive a lame excuse to not pay back. Says it's my fault we wound up with slightly more expensive airfares, which it wasn't, and that he shouldn't have to pay it back. Throwing a tantrum like a little child because he was asked to pay back money he borrowed and promised to pay back. Funny how I never heard any of those excuses or rationalizations when I was opening my wallet months earlier. Just 'yeah yeah bro, I'll totally pay you back'.

I did get the money back after an argument, but if you borrow money and promise to pay it back, then get chitty about actually having to pay it back, you're a kunt. I should have punched the obese neckbeard fukker right in the face.

first be prepared for not
getting it back,unless you used some
strong means

Looks like a good deed

they should take out a loan

if i loan money to a friend i should expect a good chance that i will never see the money back or it will take years to get it back and that is with no interest on top of the principal

As several other’s have said, it can be a bitch getting the money back.

The problem is this: if you bring it up to them or pester them about it, they will get defensive and less likely to pay it. If you put pure trust in them to pay it back when they are ready, there is the risk the loan will just fade into the background and get completely forgotten about.

My story: I lent some money to a buddy of mine and I made the mistake of pestering him about it a few months down the line. We inevitably fell out about it and I wrote it off because I figured that would be the last I’d ever hear from him. We then don’t talk for months and months and one day I notice a bank transfer from him come into my account. We’re now friends again. The moral of the story is that had I just trusted him to pay it back I probably woulda’ got it back sooner and with a lot less turmoil. BUT, another guy might have just never paid it back.

Depends on if your friend is good on repaying you but personally depending on the person but I wouldn't do it

Bump

Yes I've done it several times. In order to do it you have to be ok with two things

Brb it can't be money you are counting on getting back. You need to be able to part with it.
Brb it has to be a friend you are ok losing because if they don't pay it back you will might feel sour about it. Even if you don't need the money back the principle of them not sticking to their word about repayment will be offensive on some level and you may want to end the friendship down the line.

The other option is you give the money as a gift and tell them not to pay it back.

I just loaned you something in your CP srs

My friends would find it humiliating asking me for money. They would only ask if they were in serious trouble, so I wouldn't lend it to them, I would just give it them and tell them to solve whatever needs solving.

Never lend money to friends or family unless you are ok with not getting it back.

I spent $300 to find out a person was not a friend once. And probably around a grand to find out my brother is a POS.

Sometimes lessons cost you.

No

With any contracts, my preference is something written, so when they fail, I can sell debt to some sharks who will go after them

Bad idea.

For the most part, you don't want to do this.

Don't expect it back, but yeah over something like that, it's fine. I wouldn't loan to a friend to support a gambling or drug issue though. I had a friend who gambled. He'd ask for money sometimes, but I never gave him anything since I don't believe in gambling.

Depends. How did the fire start?

You need better friends.

That depends.

Is it someone who messages you after 13 years and that's the only reason he reached out to you but you never hear from him otherwise?