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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Have you ever loaned money to family?
if so, how did it turn out?
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Posted 3/28/08 7:40 AM |
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Long Island Weddings
Long Island's Largest Bridal Resource |
sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name: Jesss, duh.
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Re: Have you ever loaned money to family?
No, I haven't.
And it's hard to say for sure how I would handle it if we were ever asked for a loan. But, thinking about it now, there is probably only one person in my family I would float a loan to. And no one in DH's.
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Posted 3/28/08 8:00 AM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name: Baby Momma
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Re: Have you ever loaned money to family?
No I would give it to them as a gift rather than lend it if I had it. It could become too complicated the other way.
Message edited 3/28/2008 10:58:46 AM.
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Posted 3/28/08 8:02 AM |
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sfp0701
Liam's Mommy!
Member since 1/07 9764 total posts
Name: Tricia
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Re: Have you ever loaned money to family?
Yup.. It took a long time to get one loan back and the bridesmaid dress I paid for as a loan... well I was never paid back! We will never lend her money again but thankfully she is in a much much better financial situation.
But other than her I would always lend money to family. I have before and it always is fine.. plus my family helps us out when we need so I would do the same in return.
Message edited 3/28/2008 8:07:27 AM.
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Posted 3/28/08 8:06 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name: Susan
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Re: Have you ever loaned money to family?
I have never loaned money only given it without expecting to get it back. I knew the person would have a very difficult time paying me back and why have the aggravation?
Much simpler that way.
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Posted 3/28/08 8:27 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name: LB
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Re: Have you ever loaned money to family?
i did, in a way... my parents borrowed a credit card of mine that i wasn't using, and kept it until it was paid off. i never had a problem with it at all.
however, this was an informed decision... i would do it again, but i know there are certain people in my family i would never loan $$ to because i know i'd never see it again.
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Posted 3/28/08 8:31 AM |
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jmf423
:)
Member since 5/05 6372 total posts
Name:
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Re: Have you ever loaned money to family?
We did.....but I said to DH from the beginning, consider it a gift because loaning money never works out well. He insisted this person would pay us back. Well, almost 4 years later and no sign of the $!
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Posted 3/28/08 8:57 AM |
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JenBenMen
party of five
Member since 9/06 11343 total posts
Name: Jen
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Re: Have you ever loaned money to family?
yes...to my cousin....often we forgot if she ever paid me back
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Posted 3/28/08 8:59 AM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name: Me
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Re: Have you ever loaned money to family?
Yes, and we never got it back.
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Posted 3/28/08 9:00 AM |
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JenMarie
One day at a time
Member since 11/07 7397 total posts
Name: Jennifer
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Re: Have you ever loaned money to family?
Yes, several times. My father always paid me back. My sister on the other hand doesn't. I went a step further and took a car loan out for my sister. She wasn't paying it o time and royally messed up my credit because I had no idea. She did the same thing with a cell phone I put in my name for her. Cancelled it and decided she didn't want to pay the last bill, so I had to when I saw it come up on my credit report.
While it's natural to want to help family, I won't do it again, at least for my sister.
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Posted 3/28/08 9:17 AM |
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MsMBV
:P
Member since 5/05 28602 total posts
Name: Me
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Re: Have you ever loaned money to family?
Yes, and badly.
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Posted 3/28/08 9:18 AM |
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ctrain1124
Our Gang!
Member since 8/07 3190 total posts
Name: C
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Re: Have you ever loaned money to family?
Yes and MOST of the time it turned out fine.
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Posted 3/28/08 9:37 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name: D
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Re: Have you ever loaned money to family?
No, I haven't been asked to. In general, I don't loan money to anyone, family or friends, unless it is an amount I can afford to kiss goodbye forever.
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Posted 3/28/08 9:48 AM |
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mycrayon1
LIF Toddler
Member since 10/07 438 total posts
Name: Carolyn
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Re: Have you ever loaned money to family?
I don't have any to lend out so I don't know . I never have but I can see a problem with a few family members.
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Posted 3/28/08 9:51 AM |
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IluvBo
NICKY & EVIE
Member since 6/05 3321 total posts
Name: Rose
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Re: Have you ever loaned money to family?
yes and it was the biggest mistake of my life!!!!!! will never do it again!!!!!
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Posted 3/28/08 9:51 AM |
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MrsPJB2007
MBA at your service!
Member since 7/06 12020 total posts
Name: MJ
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Re: Have you ever loaned money to family?
yup
it took more than a year to get it back---but i did eventually get it back....but the entire time i was waiting for my $$ back--i found myself being bitter and resentful seeing that person spend money on things that i knew they didn't need, while still owing me.
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Posted 3/28/08 10:03 AM |
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DonnaJoe708
Hello
Member since 5/05 4002 total posts
Name:
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Re: Have you ever loaned money to family?
No, I have not. I've seen it cause way too many problems between other family members.
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Posted 3/28/08 10:06 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name: Jannette
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Re: Have you ever loaned money to family?
Yes and it worked out fine, we were payed back in full
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Posted 3/28/08 10:11 AM |
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MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name: Christian
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Re: Have you ever loaned money to family?
No, but my DH has. He loaned 10K to his sister before we were married. She paid it back within 6 months, but he was ready to write it off. I think any money you ever loan should be with the mindset that if you never get paid back financially you'll be ok with that, even if ethically and emotionally its a different story. Money can strain or ruin relationships, family, friends, whatever.
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Posted 3/28/08 10:58 AM |
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Superkat
More a stranger than a friend
Member since 5/06 9730 total posts
Name: K
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Re: Have you ever loaned money to family?
Yes I have and I never received anything back. But since it is family, I had no expectation to actually receive it. I don't mind lending money when it is a TRUE need. I DO mind when it is an expectation that I will cover for others just because they are lousy at money management.
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Posted 3/28/08 11:01 AM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: Have you ever loaned money to family?
Posted by DonnaJoe708
No, I have not. I've seen it cause way too many problems between other family members.
Same here.
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Posted 3/28/08 11:07 AM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name: Maureen
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Re: Have you ever loaned money to family?
Yes, I definitely have. They are family and there is nothing more important than that. It wasn't a ton of money, I have never been in a position to loan a LOT but $50 here, $30 there when brothers or sisters have needed it.
We never really operated on a pay back schedule either...my brother has loaned me money in the past when I needed it, and I've done it for him.
If someone in my family needed a significant amount and I had it available, I would help them but they would def. pay me back when able to.
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Posted 3/28/08 11:18 AM |
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angnick
Life is So Wonderful!
Member since 8/06 6663 total posts
Name: Angela
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Re: Have you ever loaned money to family?
my parents have and it was the worst mistake they have ever made!
DO NOT DO IT!
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Posted 3/28/08 12:20 PM |
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rojerono
Happiest.
Member since 8/06 13803 total posts
Name: Jeannie
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Re: Have you ever loaned money to family?
I have a rule. I only 'loan' money if I am okay with not getting it back. Because there is ALWAYS that potential and I don't want to wreck a relationship over money. I also don't like to act as a collections agency. So I might remind someone once - but if they don't respond - I probably won't remind them again.
I have loaned money a few times. My brother probably owes me a couple of thousand over the past 10 years that he has NEVER paid back. But - like I said - I only loan if I can afford to lose it. I never lend him more than $50 dollars becuase I know I will likely never see it again.
My sisters ALWAYS pay me back. I would loan them whatever I could comfortably afford to lose - just in case.
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Posted 3/28/08 12:26 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name: J
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Re: Have you ever loaned money to family?
I would loan only our immediate families, and have, but I would never loan anyone else money.
I would only loan our families because they have shown me when I do, I get the money back promptly.
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Posted 3/28/08 12:50 PM |
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