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have you loaned money

Posted by on Mar. 7, 2013 at 7:15 PM
  • 43 Replies
1 mom liked this
to family or friends? how did it turn out?
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by on Mar. 7, 2013 at 7:15 PM
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Replies (1-10):
mybratsmom
by Silver Member on Mar. 7, 2013 at 7:17 PM
Burned - never again. If anyone ever asks me for money I will either give it to them as a gift or just tell them no.
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CreziaMommyTo2
by on Mar. 7, 2013 at 7:21 PM

it turned out great.

everything was legit and in order.

anything under $5k i consider a gift.

so anything over i usually get a notorized IOU with payment and interest detail.

ive only loaned to 2 people $20K and i have gotten it back within the IOU frame.

gifted loans, i think the most i gave to a friend in need was about $2500

michiganmom116
by Rhonda on Mar. 7, 2013 at 7:26 PM

Nope.

Gotta have money to loan.


occumommy
by Member on Mar. 7, 2013 at 7:32 PM

yes, I do ocasionally. generally I do not lend money that will be sorely missed, and I do so with the expectation I will not get it back. I have friends that pay me back, who I would lend to again, and I have friends that have not paid me back who I will not lend to

TheBabyFactory4
by Catherine on Mar. 7, 2013 at 7:42 PM
Wow that's a lot of money to loan. Glad it turned out good.

Quoting CreziaMommyTo2:

it turned out great.

everything was legit and in order.

anything under $5k i consider a gift.

so anything over i usually get a notorized IOU with payment and interest detail.

ive only loaned to 2 people $20K and i have gotten it back within the IOU frame.

gifted loans, i think the most i gave to a friend in need was about $2500

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TheBabyFactory4
by Catherine on Mar. 7, 2013 at 7:42 PM
Same here

Quoting michiganmom116:

Nope.

Gotta have money to loan.


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SissyMacK
by on Mar. 7, 2013 at 7:53 PM
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A former pastor of mine gave me some very good advice.  He told me to never loan money I couldn't afford to loose.  It keeps things in perspective and when I do loan, I accept that I am making a potential gift. 

mamabearlehman
by Silver Member on Mar. 7, 2013 at 9:02 PM
1 mom liked this

 This.

Quoting michiganmom116:

Nope.

Gotta have money to loan.


 

KenzieQsMommy
by Heather on Mar. 7, 2013 at 9:06 PM

No more than $50 and they did return it. But I won't do that again.

jessesbride
by on Mar. 7, 2013 at 9:10 PM

BURNED!!!!  NEVER AGAIN!!! Well... Actually it was a cosign, she got $3000, she defaulted (after saying she was dealing with it) & I got served to pay the debt... & by that time... I had to cough up $7000 that I did NOT have to pay!!! She never said thank you, nada, oh wait..l she did keep trying to hit me up for $$$ all the time, then used her daughter (my god daughter) to try & weasel $$ out of me.   Lazy, ungrateful, & I was the single mom working 2 jobs to make ends meet, while she, single mom too, quit her job cuz she didn't want to work... Smh... SERIOUSLY?!

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