Friend wants to borrow £10k - please help!

Ms_Magnetite

Just say no. It would destroy your friendship. OK, saying no might do anyway, but at least you're not ten grand down as well.

swampduck

She owes the money to someone else who lent her money for the family business - What's wrong with the business that they have not repaid it?
It all sounds a little suspect to me - but if it concerns you that you have already said yes - then only give what you can afford to lose or wouldnt feel the pain of losing too much eg £1000

Like other posters I wouldnt lend if it meant that my family dreams and wishes came second to someone elses. If she does not pay you back how would your family feel?

Swampy

jonty1970

NO NO NO NO NO NO
Don't lend it. Funny how she know you had £10 000 and that is the exact amount she needs to borrow.

I would bet that you wouldn't see a penny of it back. That is your baby's money. Think about it like that.

She is cheeky to ask as well. Don't feel guilty about saying no. I have been like you before. You don't want to say no.
I have lent things and money and had to chase the people involved to get the them back. And had a couple of things back broken as well (lawnmover, DVD player, game scratched) and they had the cheek to not say anything.

OrkneyStar

sofietrouble wrote: »

Hi,

Just need some advice and opinions please!
I have saved up a lot of money, just by putting money aside from my salary and living well below my means.

A friend of mine has asked to borrow £10,000 from me, saying she will pay it back within 6 months. As we are both Muslims I won't be charging her interest as it is forbidden to charge or pay interest in Islam.

She needs it as a family member who invested £10k in my friend's business has now demanded the money back - nothing to do with the business but for personal reasons.

She is pregnant with her first child (I have a baby also) and I am just worried that for some reason she will not pay it back. I really could not afford to lose this money as I was saving it to buy a house as I am renting at the moment. It's not that I don't trust her, but anything could happen, she could die, then what would I do?

I really want to help my friend but I don't want to lose £10k either. Is there a way of formalising this to help me feel more reassured without jeopardising our friendship?

Any advice gratefully received, thank you!

x Sofie

The part I have highlighted in bold gives an answer to me! Tell her, much as you love and respect her as a friend, you are simply not in a position to lend it to her. If you want to give her a reason simply her you were saving for a specific reason and that you have sacrificed too much to risk losing it. Emphasise that you know she wants to pay it back and it is not that you don't trust her, simply that you need that money and it is yours!