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 Post subject: Lending money to friends
PostPosted: Mon Oct 25, 2010 3:55 pm 
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So I'm thinking about doing this, guys. I feel like I should, but the idea makes me a little nervous. Here's the long and short of it.

This couple are our best friends. We were their Best Man/Maid of Honor, they were hours. Been friends for years and years. Anyway, earlier this year they moved up near Atlanta because of baby mama drama and he wanted to be close to his kids. So he gave up his well-paying job down here and went north. He has a job up there, but not nearly as good. She hasn't been able to find anything other than basic part time work, making a lot less than she was making. Anyway, they've been having to dip into their savings month after month and now one of their cars is dead and they can't afford to fix it so they can sell it or to buy anything. Basically, this happened about a month ago, but they scraped together whatever they could and bought a POS which has already died, and needs at least $500 of work to get running again. They want to fix it and get rid of it and then go forward from there. So we're thinking about telling them we'll pay the bill for the car to get fixed and they can pay us back whenever. Or the more expensive version would be lending them some money to get that car fixed and to use to get something else.

RM, as always I leave my decision in your capable hands.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 3:57 pm 
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Do so only if you're willing to lose both.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 3:57 pm 
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$500? I have $500 in my sock drawer at home. Why is this even a question?

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 3:58 pm 
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If they're that close and losing the 500 won't be a huge burden on you and your family, do it.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 3:59 pm 
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thodoks wrote:
Do so only if you're willing to lose both.


Yeah, pretty much this.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:01 pm 
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Yeah, losing the money wouldn't be a big deal at all really. Actually, I kinda think if we decide to only give $500 I'd rather just do it as a gift anyway. They've spent so much money on us over the years...

Truth be told, the $500 idea was my wife's. I had initially been thinking of loaning them significantly more so they could get something driveable and not be in the position they're in now. But I hesitated and they bought a piece of junk car and are back in the same spot.

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"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires."
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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:02 pm 
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4/5 wrote:
I kinda think if we decide to only give $500 I'd rather just do it as a gift anyway.

Much better idea.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:02 pm 
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thodoks wrote:
Do so only if you're willing to lose both.

Being rational can really be a drag sometimes. Especially when you're right.

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"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires."
-- John Steinbeck


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:03 pm 
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Absolutely. As long as you both are okay with losing the money. Chances are good that they will pay you back ($500) given your relationship. Increase the sum, and the payback likelihood decreases for obvious reasons. As long as it won't burden you & your wife, or the friendship, I would totally do it.


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:03 pm 
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If I were in your shoes I'd just give them the $500. They seem to be that friend you'd do this for but pretty much wouldn't do it for anyone else.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:04 pm 
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Gift is even better, if they will accept it.


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:06 pm 
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Give them $500 then drive them to a casino.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:07 pm 
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uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

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"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires."
-- John Steinbeck


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:08 pm 
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4/5 wrote:
uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

If you think your friend is too proud to accept a gift, I don't know that I'd even offer. If he were in your town, I'd just put the cash into an unmarked envelope and slip it into his mailbox. Since he's so far away, you'll have to get creative.

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:08 pm 
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they arent PtH's cousin are they?

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:09 pm 
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thodoks wrote:
4/5 wrote:
uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

If you think your friend is too proud to accept a gift, I don't know that I'd even offer. If he were in your town, I'd just put the cash into an unmarked envelope and slip it into his mailbox. Since he's so far away, you'll have to get creative.



tell him the 500 isnt a gift, but for a future payment of sleeping with his wife. if he says theres no way they would consider it, say fine, its a past payment for sleeping with his wife

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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:12 pm 
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thodoks wrote:
4/5 wrote:
uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

If you think your friend is too proud to accept a gift, I don't know that I'd even offer. If he were in your town, I'd just put the cash into an unmarked envelope and slip it into his mailbox. Since he's so far away, you'll have to get creative.


This is also a good idea. Full of wisdom, Kris.


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:12 pm 
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Peeps wrote:
thodoks wrote:
4/5 wrote:
uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

If you think your friend is too proud to accept a gift, I don't know that I'd even offer. If he were in your town, I'd just put the cash into an unmarked envelope and slip it into his mailbox. Since he's so far away, you'll have to get creative.



tell him the 500 isnt a gift, but for a future payment of sleeping with his wife. if he says theres no way they would consider it, say fine, its a past payment for sleeping with his wife

ben roethlisberger post

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Fortuna69 wrote:
I will continue to not understand


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:12 pm 
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uglyduckling wrote:
thodoks wrote:
4/5 wrote:
uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

If you think your friend is too proud to accept a gift, I don't know that I'd even offer. If he were in your town, I'd just put the cash into an unmarked envelope and slip it into his mailbox. Since he's so far away, you'll have to get creative.


This is also a good idea. Full of wisdom, Kris.

Just trying to build a bit of credibility over here, cowgirl.

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Fortuna69 wrote:
I will continue to not understand


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 Post subject: Re: Lending money to friends
PostPosted: Mon Oct 25, 2010 4:15 pm 
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uglyduckling wrote:
thodoks wrote:
4/5 wrote:
uglyduckling wrote:
Gift is even better, if they will accept it.

Yeah this is my only worry about that. I think they would, but they'd be pretty reluctant.

I think this is what I should do. I knew you guys would come through for me. Guess I just had to talk it out.

If you think your friend is too proud to accept a gift, I don't know that I'd even offer. If he were in your town, I'd just put the cash into an unmarked envelope and slip it into his mailbox. Since he's so far away, you'll have to get creative.


This is also a good idea. Full of wisdom, Kris.

Well she's down right now. Actually staying with us. Her sister is supposed to give birth this week so she's down waiting for that to happen lol. I think she would take it. He might not want to. But she's pretty stressed out about everything. I like the envelope idea.

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"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires."
-- John Steinbeck


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