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Offering another man a loan in order to help him and his family out..

Posted on 1/11/19 at 8:08 pm
Posted by Zilla
Member since Jul 2005
10599 posts
Posted on 1/11/19 at 8:08 pm
Coast guard friend, haven't known for too long, but trust he is a 1st class dude... He has 4 kids, hasn't been paid due to shutdown and they turned down an event our daughters would have normally done together (due to lack of extra funds at the moment)...They did share this info... In any way is it appropriate for me to offer to loan him a $1000 or something to help get through this period ? Never really ran in to this before so I come to the OT for your abundant wisdom...

This post was edited on 1/11/19 at 8:32 pm
Posted by TigerLunatik
Baton Rouge, LA
Member since Jan 2005
93642 posts
Posted on 1/11/19 at 8:11 pm to
I've done it for my best friend before. My exact question was "Would $500 help you get back to where you need to get? I have some extra money and would like to help if you'll let me."

He accepted and paid me back with no issues.
Posted by Strannix
District 11
Member since Dec 2012
48837 posts
Posted on 1/11/19 at 8:13 pm to
It’s sad how many people live paycheck to paycheck, that’s a red flag to not loan the dude money
This post was edited on 1/11/19 at 8:14 pm
Posted by TheWalrus
Member since Dec 2012
40370 posts
Posted on 1/11/19 at 8:13 pm to
I don’t see why it would be inappropriate. If he’s too proud to accept, he will decline but I’m sure he would appreciate the offer.
Posted by Cwally
The Woodlands
Member since Jun 2007
930 posts
Posted on 1/11/19 at 8:17 pm to
As long as you’re comfortable at the possibility of not being repaid. People do shitty things when money is involved, no matter their perceived character.
Posted by TigerNlc
Chocolate City
Member since Jun 2006
32487 posts
Posted on 1/11/19 at 8:19 pm to
If you like the guy and you can afford it give it to him but think of it as if you just set it on fire. If he pays you back great but don’t expect it or hassle him.
Posted by lsusa
Doing Missionary work for LSU
Member since Oct 2005
4491 posts
Posted on 1/11/19 at 8:25 pm to
If it's an event for the kids, just offer to pay for it yourself. Make it clear it's a gift and not a loan.

Posted by fr33manator
Baton Rouge
Member since Oct 2010
123896 posts
Posted on 1/11/19 at 8:26 pm to
quote:

If you like the guy and you can afford it give it to him but think of it as if you just set it on fire.




Yup. I always treat loans to friends like this
Posted by PortHudsonPlaya
Houston
Member since Jul 2017
3170 posts
Posted on 1/11/19 at 8:26 pm to
You should let him learn a lesson of not living paycheck to paycheck instead of enabling his irresponsibility.
Posted by el Gaucho
He/They
Member since Dec 2010
52907 posts
Posted on 1/11/19 at 8:27 pm to
Oh thanks alter

Tell us how we can impeach trump
Posted by Zilla
Member since Jul 2005
10599 posts
Posted on 1/11/19 at 8:33 pm to
quote:

Oh thanks alter

Tell us how we can impeach trump


naw, me and him are both MAGA
Posted by wildtigercat93
Member since Jul 2011
112204 posts
Posted on 1/11/19 at 8:33 pm to
What kind of interess rate y’all got
Posted by TimeOutdoors
AK
Member since Sep 2014
12120 posts
Posted on 1/11/19 at 8:36 pm to
quote:

It’s sad how many people live paycheck to paycheck, that’s a red flag to not loan the dude money


Doesn’t mean he’s living pay check to pay check. I hate diving into my rainy day fund and without knowing how long this will last it’s wise to keep an eye on expenses. May just be being financially responsible.
Posted by Zilla
Member since Jul 2005
10599 posts
Posted on 1/11/19 at 8:37 pm to
quote:

Doesn’t mean he’s living pay check to pay check. I hate diving into my rainy day fund and without knowing how long this will last it’s wise to keep an eye on expenses. May just be being financially responsible.


thats actually what I was assuming they were doing, just being smart and this is just an optional clinic for his daughter....
Posted by ctiger69
Member since May 2005
30589 posts
Posted on 1/11/19 at 8:39 pm to
quote:

Coast guard friend, haven't known for too long,


Just don’t expect to get this money back. If you are ok with this than give him the money.
Posted by ItzMe1972
Member since Dec 2013
9773 posts
Posted on 1/11/19 at 8:40 pm to
If you like the guy and you can afford it give it to him but think of it as if you just set it on fire. If he pays you back great but don’t expect it or hassle him.
-----

Through the years, I've found that it best to "give" what I can afford and not expect to be paid back (No heartache or ill feelings).

However, I did loan my nephew money to start his business, which was paid back. He has not forgotten.
This post was edited on 1/11/19 at 8:44 pm
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
65517 posts
Posted on 1/11/19 at 8:40 pm to
Pics of his wife first, as collateral...
Posted by QJenk
Atl, Ga
Member since Jan 2013
15220 posts
Posted on 1/11/19 at 8:42 pm to
Only do so if you're prepared to not be able to get paid back any time soon.

If this money loan could potentially ruin you alls friendship or relationship at all, you should keep it to yourself.
Posted by Mid Iowa Tiger
Undisclosed Secure Location
Member since Feb 2008
18577 posts
Posted on 1/11/19 at 8:45 pm to
If you have it yes. But mentally kiss it goodbye. If you still want to do it go for it.

I am not saying he won't pay you back, but when ever you loan a friend or family money just assume it is a gift...
Posted by Sus-Scrofa
Member since Feb 2013
8118 posts
Posted on 1/11/19 at 8:46 pm to
Never loan friends money.


Give freely with no expectation of getting it back.


But never loan friends money.
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