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re: A good buddy called me asking for money yesterday. Update 6/12
Posted on 5/26/23 at 8:27 am to Cosmo
Posted on 5/26/23 at 8:27 am to Cosmo
I know a few people like this, the issue is they're typically so upside down in the cars/boats/ATVs/toys that they can't even get out from under them to relieve themselves. If they bought all those things within the last 2 year I'd imagine they're upside down on damn near all of it.
I reckon there's about to be a whole lot of people in a similar pinch, paying $100k for a $70k truck that's now worth $50k was a bad idea.
I reckon there's about to be a whole lot of people in a similar pinch, paying $100k for a $70k truck that's now worth $50k was a bad idea.
2
Posted on 5/26/23 at 9:28 am to YOURADHERE
quote:
the issue is they're typically so upside down in the cars/boats/ATVs/toys that they can't even get out from under them to relieve themselves.
True, in that case they need to do a voluntary repossession (give the item back to the lender) so they no longer have to make payments.
Posted on 5/26/23 at 11:14 am to YOURADHERE
In my younger years I had some rough financial patches. I'd do everything single thing possible to pull myself out of the situation before even fathoming hitting a friend up for cash. I've taken on second jobs, etc. to take care of my business.
For me to loan money like that, it would have to be a friend very near and dear to me. And before handing it over, I'd have to have a sit-down with them to go over their problems, exhaust all possible solutions, and come up with a payment plan. I'd want to know exactly where my money is going. Even then I'd be very, very reluctant.
For me to loan money like that, it would have to be a friend very near and dear to me. And before handing it over, I'd have to have a sit-down with them to go over their problems, exhaust all possible solutions, and come up with a payment plan. I'd want to know exactly where my money is going. Even then I'd be very, very reluctant.
This post was edited on 5/26/23 at 11:16 am
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