Should/Would you lend friends money? - GoFuckYourself.com

DeadFidel · 01-27-2006, 10:21 AM

Aside from the, "Neither a lender nor a borrower be" scope, and lacking collateral, what criteria would you take into consideration? (Asking 5K)

I'm between a rock and a hard place; and I can count on some really needed feedback here.
Thanks

www.toomuchmedia.com
www.dukedollars.com

Project-Shadow · 01-27-2006, 10:28 AM

After the last fiasco I had lending a friend money.. no don't do it.
If you must, get them to sign paper and let them know that you're not lending the money as a friend. Make him/her put down some form of collateral even if its not worth all that much, sentimental things are ideal. Write down payment dates on pieces of paper etc.

I've lost a good friendship because he couldn't keep up on payments, and he thought i'd let it slide cause I was a friend. It doesn't work that way...

WarChild · 01-27-2006, 10:29 AM

I lend money to "friends" all the time. I also borrow it from them. Why? Because I can count the number of true friends I have on one hand and I'd trust any of them with my life and after all, it's only money.

Now as far as outside that circle of friends, and amongst associates? Usually not a good idea.

E Guru · 01-27-2006, 10:33 AM

If you don't want to be friends with them anymore then go ahead and lend them money

they won't pay back shit

specialy if he needs 5k he's obviously in a hard spot

EroticySteve · 01-27-2006, 10:33 AM

I did a 5k loan to a buddy and his fiancee once. it came back slowly and not without effort but it did all come back.

Sam Granger · 01-27-2006, 10:34 AM

Don't do it. ;)

HorseShit · 01-27-2006, 10:36 AM

how good is the friend? what will the money be used for? when will they be able to pay it back by?

Vitasoy · 01-27-2006, 10:37 AM

I wouldn't do it, it's not worth the hassle unless you don't expect it back.

3M TA3 · 01-27-2006, 10:40 AM

Quote:

Originally Posted by WarChild

I lend money to "friends" all the time. I also borrow it from them. Why? Because I can count the number of true friends I have on one hand and I'd trust any of them with my life and after all, it's only money.

Now as far as outside that circle of friends, and amongst associates? Usually not a good idea.

Same here. I have a small circle of friends that I don't keep track. Then there are those that I', testing to see how honest they are, then there are the ones that I wouldn't buy a drink for.

Everything is relitive.

axelcat · 01-27-2006, 10:44 AM

take into consideration that you might not get it back

JuiceMonkey · 01-27-2006, 10:49 AM

Quote:

Originally Posted by nofx

"joo joo monkey doo"

haha i agree..

Raven · 01-27-2006, 10:49 AM

It depends on the friendship. I don't loan money because there is an expectation on my part that I will be paid back..and, in a timely manner.

If someone is in dire need and they are a good friend of mine, they may call it a loan and I leave them with that illusion, but I have no expectation of ever getting it back, so, to me, it's a gift that leaves them with their self respect.

I've loaned money before as a true loan. It has always proven to be disastrous.

candyflip · 01-27-2006, 11:03 AM

I don't loan money to friends, I give it to them and hope that I get paid back.

SilentKnight · 01-27-2006, 11:05 AM

I have in the past...but no longer. Lesson learned too many times the hard way.

These days I'll only loan bucks to trusted family members.

RayBonga · 01-27-2006, 11:08 AM

I'll only loan money to friends if two conditions apply:

1. They really need it (I would never deny money for a medical expense for example)

2. I can do without that money, I'll survive at least

Any other situation is probably not worth it.

ronaldo · 01-27-2006, 11:08 AM

It would entirely depend on the friend and the amount of money.

I'd pretty much loan $50-$100 to most people I'd care to associate with, and maybe up to $500 or $1000 for close friends on a short term (2 weeks) loan.

I don't think I'd loan anyone over that amount for an extended period of time, out of fear of ruining the friendship.

sfera · 01-27-2006, 11:14 AM

dont lend, just give it because you wont get it bak

JamesK2 · 01-27-2006, 11:16 AM

Depends on:

1. What does he need it for.
2. Is he that kind of friend that'd lend you too.
3. Did he have trouble asking for the money.
4. Is this the first time he asks it.
5. How long have you been friends.

This should help you out a bit

GiveIntoMe · 01-27-2006, 11:17 AM

most of my friends are fucking de-generate gamblers or drug dealers.

fuck loaning people money.

ronaldo · 01-27-2006, 11:18 AM

Quote:

Originally Posted by JamesK

Depends on:

1. What does he need it for.
2. Is he that kind of friend that'd lend you too.
3. Did he have trouble asking for the money.
4. Is this the first time he asks it.
5. How long have you been friends.

This should help you out a bit

Pretty good guidelines there.

Ross · 01-27-2006, 11:20 AM

Hard situation. If you don't give it and he knows you can afford it he might get pissed at you. But if you do lend it to him and he doesn't pay back you're gonna get pissed at him.

Lending 5K to someone is something I personally wouldn't do to anyone but my immediate family and a couple of close friends who I trust 100%.

DeadFidel · 01-27-2006, 11:23 AM

Pretty much the replies I expected. His family has $ and I've known him for about 5 years, but the amount puzzles me. He is a good friend yet a black sheep of sorts.

I think this sums it up best so far.

"I don't loan money to friends, I give it to them and hope that I get paid back."

www.toomuchmedia.com
www.dukedollars.com

Nikki_Licks · 01-27-2006, 11:24 AM

Never Again!!! Only lend what you are willing to lose. I am not willing to lose anything, thats why I say Never Again.....been there and done that....

eroswebmaster · 01-27-2006, 11:24 AM

No I give friend's money. Total screw ups I limit that, but I would still help if I could in some way or another.

Lending a friend money is just a recipe for disaster. You risk the chance that they have trouble paying you back and therefore losing that friend.

ronaldo · 01-27-2006, 11:28 AM

Quote:

Originally Posted by DeadFidel

Pretty much the replies I expected. His family has $ and I've known him for about 5 years, but the amount puzzles me. He is a good friend yet a black sheep of sorts.

I think this sums it up best so far.

"I don't loan money to friends, I give it to them and hope that I get paid back."

www.toomuchmedia.com
www.dukedollars.com

Hmm, his family being wealthy would bother me a bit too.

If it was me, I might try telling him that things are tight right now, but I could swing $2,000 and gauge his reaction from there. If he's pissed off (which he shouldn't be), you know what you're up against.

If he still shows great appreciation for the effort, it might be worth taking a risk. But it's still a risk.

woj · 01-27-2006, 11:29 AM

Quote:

Originally Posted by JamesK

Depends on:

1. What does he need it for.
2. Is he that kind of friend that'd lend you too.
3. Did he have trouble asking for the money.
4. Is this the first time he asks it.
5. How long have you been friends.

This should help you out a bit

well said

Scrapper · 01-27-2006, 11:32 AM

Don't lend..just give it to him. This way you keep your friend. Tell him you will NEVER ask for it back, but if he has the money in the near future remember you.

Webby · 01-27-2006, 11:39 AM

Quote:

Originally Posted by eroswebmaster

No I give friend's money. Total screw ups I limit that, but I would still help if I could in some way or another.

Lending a friend money is just a recipe for disaster. You risk the chance that they have trouble paying you back and therefore losing that friend.

Same here - don't hold by breath with repayment. I'll lend to friends. Ya know who will pay back and about 30% do. The rest you can change from the word "loan" to "donation" and forget repayment - they only get a "loan" once.

There are two types of people as regards "loans", whether they are friends or accquantances - those who pay and those who don't - there are no distinctions as regards "friendship".

There are also folks you can throw a $100K check at and know they will honor that loan - and you can always rely on em to reciprocate if needed.

Webby · 01-27-2006, 11:43 AM

Quote:

Originally Posted by DeadFidel

Pretty much the replies I expected. His family has $ and I've known him for about 5 years, but the amount puzzles me. He is a good friend yet a black sheep of sorts.

No way DF!

That is one loan that would be a donation - if ya wanna help him out, fine, but don't look forward to repayment.

EdgeXXX · 01-27-2006, 11:45 AM

Quote:

Originally Posted by candyflip

I don't loan money to friends, I give it to them and hope that I get paid back.

EXACTLY

Groove · 01-27-2006, 11:45 AM

If you care about him enough to consider loaning him $5k, then he is probably a good friend. Therefore you should only lend him the money if you are EXTREMELY confident that the money will be repaid in a timely and hassle-free fashion, and/or EXTREMELY confident that failure to repay will not ruin the friendship.

Raven · 01-27-2006, 11:45 AM

And, you have to ask yourself, too....will helping him out financially really help?

Jennyfer · 01-27-2006, 11:47 AM

Quote:

Originally Posted by Project-Shadow

After the last fiasco I had lending a friend money.. no don't do it.
If you must, get them to sign paper and let them know that you're not lending the money as a friend. Make him/her put down some form of collateral even if its not worth all that much, sentimental things are ideal. Write down payment dates on pieces of paper etc.

I've lost a good friendship because he couldn't keep up on payments, and he thought i'd let it slide cause I was a friend. It doesn't work that way...

This is a good advice, although if is a true friend i'll lend him money no problem.

Funbrunette · 01-27-2006, 11:52 AM

I have no friends!

detoxed · 01-27-2006, 11:54 AM

Yes, hand it all out to friends, they will pay you back for sure.

hahahahhaha

Groove · 01-27-2006, 11:56 AM

PS Can I borrow $100k? I'll pay it back next week

DeadFidel · 01-27-2006, 11:56 AM

Quote:

Originally Posted by Raven

And, you have to ask yourself, too....will helping him out financially really help?

That really helped; talk about in perspective.

www.toomuchmedia.com
www.dukedollars.com

01-27-2006, 10:21 AM	#1
DeadFidel Confirmed User Join Date: Jul 2003 Location: This was my wife circa 2002 Posts: 6,760	Should/Would you lend friends money? Aside from the, "Neither a lender nor a borrower be" scope, and lacking collateral, what criteria would you take into consideration? (Asking 5K) I'm between a rock and a hard place; and I can count on some really needed feedback here. Thanks www.toomuchmedia.com www.dukedollars.com

01-27-2006, 10:29 AM	#3
WarChild Let slip the dogs of war. Industry Role: Join Date: Jan 2003 Location: Bermuda Posts: 17,263	I lend money to "friends" all the time. I also borrow it from them. Why? Because I can count the number of true friends I have on one hand and I'd trust any of them with my life and after all, it's only money. Now as far as outside that circle of friends, and amongst associates? Usually not a good idea. __________________ .

01-27-2006, 10:33 AM	#4
E Guru Confirmed User Join Date: Jul 2005 Posts: 658	If you don't want to be friends with them anymore then go ahead and lend them money they won't pay back shit specialy if he needs 5k he's obviously in a hard spot __________________ Guru

01-27-2006, 10:33 AM	#5
EroticySteve Confirmed User Join Date: Mar 2005 Location: The Sunshine State Posts: 4,365	I did a 5k loan to a buddy and his fiancee once. it came back slowly and not without effort but it did all come back. __________________ You deserve to make more money. I'll help you do that. Our affiliates earn up to $3/email or $107/sale email steve <at> eroticy.com - icq 290153464

01-27-2006, 10:34 AM	#6
Sam Granger Confirmed User Join Date: Dec 2004 Location: NL (Eindhoven), CZ(Prague), FR(Concarneau) Posts: 3,958	Don't do it. ;) __________________ [img]http://**************/sig/fhv3_j2_624x80_2.gif[/img] $35-40 Per Signup, 60-70% Rev Share, over 80 Sites, Exclusive Sites, tons of free content 14,000+ Free hosted Galleries, RSS feeds, Domain Hosting, Embedded Flash Movies Join Fetish Hits now! ICQ:** 358652230

01-27-2006, 10:28 AM	#2
Project-Shadow Confirmed User Industry Role: Join Date: Feb 2003 Posts: 7,340	After the last fiasco I had lending a friend money.. no don't do it. If you must, get them to sign paper and let them know that you're not lending the money as a friend. Make him/her put down some form of collateral even if its not worth all that much, sentimental things are ideal. Write down payment dates on pieces of paper etc. I've lost a good friendship because he couldn't keep up on payments, and he thought i'd let it slide cause I was a friend. It doesn't work that way...

01-27-2006, 10:36 AM	#7
HorseShit Too lazy to set a custom title Join Date: Dec 2004 Posts: 17,513	how good is the friend? what will the money be used for? when will they be able to pay it back by?

01-27-2006, 10:37 AM	#8
Vitasoy GFY HALL OF FAME DAMMIT!!! Join Date: Oct 2003 Posts: 58,202	I wouldn't do it, it's not worth the hassle unless you don't expect it back. __________________ [email protected]

01-27-2006, 10:44 AM	#10
axelcat Adult Locals Join Date: Jun 2002 Location: West Coast Posts: 25,450	take into consideration that you might not get it back

01-27-2006, 10:49 AM	#12
Raven Confirmed User Industry Role: Join Date: Jul 2001 Posts: 6,874	It depends on the friendship. I don't loan money because there is an expectation on my part that I will be paid back..and, in a timely manner. If someone is in dire need and they are a good friend of mine, they may call it a loan and I leave them with that illusion, but I have no expectation of ever getting it back, so, to me, it's a gift that leaves them with their self respect. I've loaned money before as a true loan. It has always proven to be disastrous. __________________ Raven ~RETIRED~

01-27-2006, 11:03 AM	#13
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,064	I don't loan money to friends, I give it to them and hope that I get paid back. __________________ Spend you some brain. Email Me

01-27-2006, 11:05 AM	#14
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	I have in the past...but no longer. Lesson learned too many times the hard way. These days I'll only loan bucks to trusted family members.

01-27-2006, 11:08 AM	#15
RayBonga too cool for highschool Join Date: Nov 2005 Location: East side, West side, Worldwide! Posts: 12,164	I'll only loan money to friends if two conditions apply: 1. They really need it (I would never deny money for a medical expense for example) 2. I can do without that money, I'll survive at least Any other situation is probably not worth it.

01-27-2006, 11:08 AM	#16
ronaldo Confirmed User Join Date: Jan 2002 Location: ICQ#: 272000271 Posts: 5,475	It would entirely depend on the friend and the amount of money. I'd pretty much loan $50-$100 to most people I'd care to associate with, and maybe up to $500 or $1000 for close friends on a short term (2 weeks) loan. I don't think I'd loan anyone over that amount for an extended period of time, out of fear of ruining the friendship.

01-27-2006, 11:14 AM	#17
sfera Confirmed User Join Date: Aug 2005 Location: ICQ: 248877409 Posts: 8,597	dont lend, just give it because you wont get it bak

01-27-2006, 11:16 AM	#18
JamesK2 Confirmed User Join Date: Aug 2004 Location: The Netherlands Posts: 6,589	Depends on: 1. What does he need it for. 2. Is he that kind of friend that'd lend you too. 3. Did he have trouble asking for the money. 4. Is this the first time he asks it. 5. How long have you been friends. This should help you out a bit __________________

01-27-2006, 11:17 AM	#19
GiveIntoMe Confirmed User Join Date: Jan 2006 Posts: 516	most of my friends are fucking de-generate gamblers or drug dealers. fuck loaning people money.

01-27-2006, 11:20 AM	#21
Ross Ik ben een aap Industry Role: Join Date: Sep 2002 Location: Traffic Force Towers, Canada! Posts: 18,874	Hard situation. If you don't give it and he knows you can afford it he might get pissed at you. But if you do lend it to him and he doesn't pay back you're gonna get pissed at him. Lending 5K to someone is something I personally wouldn't do to anyone but my immediate family and a couple of close friends who I trust 100%.

01-27-2006, 11:23 AM	#22
DeadFidel Confirmed User Join Date: Jul 2003 Location: This was my wife circa 2002 Posts: 6,760	Pretty much the replies I expected. His family has $ and I've known him for about 5 years, but the amount puzzles me. He is a good friend yet a black sheep of sorts. I think this sums it up best so far. "I don't loan money to friends, I give it to them and hope that I get paid back." www.toomuchmedia.com www.dukedollars.com

01-27-2006, 11:24 AM	#23
Nikki_Licks Confirmed User Join Date: May 2005 Location: Behind The Lens Posts: 6,323	Never Again!!! Only lend what you are willing to lose. I am not willing to lose anything, thats why I say Never Again.....been there and done that.... __________________ Amateur Content ICQ: 292 356 077 Last edited by Nikki_Licks; 01-27-2006 at 11:26 AM..

01-27-2006, 11:24 AM	#24
eroswebmaster March 1st, 2003 Join Date: Jul 2001 Location: Seat 4 @ Venetian Poker Room Posts: 20,295	No I give friend's money. Total screw ups I limit that, but I would still help if I could in some way or another. Lending a friend money is just a recipe for disaster. You risk the chance that they have trouble paying you back and therefore losing that friend. __________________ For rent - ICQ 127-027-910 Click here for more details

01-27-2006, 11:32 AM	#27
Scrapper So Fucking Banned Industry Role: Join Date: Dec 2004 Location: Sack Masking Your Face Posts: 491	Don't lend..just give it to him. This way you keep your friend. Tell him you will NEVER ask for it back, but if he has the money in the near future remember you.

01-27-2006, 11:45 AM	#31
Groove Confirmed User Join Date: Jan 2003 Posts: 3,852	If you care about him enough to consider loaning him $5k, then he is probably a good friend. Therefore you should only lend him the money if you are EXTREMELY confident that the money will be repaid in a timely and hassle-free fashion, and/or EXTREMELY confident that failure to repay will not ruin the friendship.

01-27-2006, 11:52 AM	#34
Funbrunette Confirmed User Join Date: May 2002 Location: Montreal, Canada Posts: 4,834	I have no friends! __________________ Stephanie (Funbrunette) [email protected] ICQ: 155-713-409

01-27-2006, 11:54 AM	#35
detoxed vip member Join Date: Jan 2003 Posts: 17,798	Yes, hand it all out to friends, they will pay you back for sure. hahahahhaha

01-27-2006, 11:56 AM	#36
Groove Confirmed User Join Date: Jan 2003 Posts: 3,852	PS Can I borrow $100k? I'll pay it back next week