re: Any of y'all been burned loaning a family member or friend money?

So you're perpetuating the problem. Is that helping them? We all know the answer. Oh, you just got a text about needing money for a new tranny (they already paid for their spring break trip, but won't tell you that.) Good luck.

Just go into it knowing you will not get the money back, it will cause the sister to not come around or call much, all involved will feel awkward around each other because of it, you and your fiancée will have fights about it. Also no matter what you read in this thread, your fiancée is still going to give her the money.

Tell her go to LSU Dental School, the young Hygienist and Dentist need the Practice, if she cannot receive free care it will be minimal

Look at the bright side, you may never have to see her again, or at least very infrequently…

My family knows not to ask. If I can't give it, I won't loan it.

No because I won’t do it. I’ll gift them but never a loan.

My grandmother's father lost part of his land after cosigning a loan for his brother who defaulted. My grandmother held a grudge against that branch of the family for the rest of her life because of it.

Not burned but my BiL (wife’s twin), who is incredibly intelligent and does well in corporate finance, got really stupid with r/wallstreetbets a couple years ago. He got in relatively early in GameStop and made probably 25k on it, but then lost it all and then some in the weeks after chasing the next things.

He asked for 10k to hide the losses from his wife. We tried to guilt him and gave him the option to take the money or come clean to his wife, and he took the former.

He paid us back a couple months later when he got his annual bonus, but it very well could have done irreparable damage to our relationship and his marriage, if he wasn’t a good, quality person.

Just a stupid situation that I wish we had avoided.

quote:

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It’s more complicated than that. My mother died in June. I’ve found out that my parents whole adult life is a house of financial cards. So I have to keep it afloat in order to get the house sold.

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Not sure of the situation, but my ex brother in law went through nearly the same thing. However, he wrongly assumed that the debts of his parents that were in their name, not his, needed to be paid out of anything other than the estate that came with the sale of the parental home. He spent tens of thousands of his immediate family bank account to pay debts that were not his responsibility. Not being ironic at all, but best of luck.

Bro in law borrowed money from me because they were “strapped”. Said my sister was to embarrassed to ask me, he gambled it away. They not together anymore.