Lending Money to a friend question

AMILLIONDOLLARS

If he is that desparate, why doesn't he get himself a job! I think that most uni have a job website, he could post his details on there. It worked for my son!!

jay213

Ive got the same sort of situation but with my gf where the relationship is sort of rocky. Ive lent about £175 so far, now she seems to be getting hit left, right & centre with bills, fines, arrears she has to pay, some to keep her property. she works pt but the work is not guaranteed, i.e they can cancel shifts on the day etc. She hasnt asked me for any money yet, but she did find out a few new bills etc thats upset her today that I was told about over the phone. I could lend her some more money but with us being rocky i may never see it again

before I lent her money she tried one of those companies that guarantee loans after you pay upfront fee, she payed it and never ended up getting a loan. I told her a long time ago to get a credit card, but she says that she has been declined in the past.

What would be the best way for somebody with bad credit to get good deal on a loan or cc?

maybe I should have made a thread?

I will appreciate any advice you guys can give me. thanks

jonesMUFCforever

I agree a new thread would be better.
Having said that you have to look at this and say to yourself that if you do lend her the money it is unlikely that you will see it again.

People who pay an upfront fee to a broker in the hope of getting a loan when she is already struggling are desperate.

Your call but I would walk away.

fudgecat

I presume that the friend gets the same amount of student loan as you do, so they are either poor with money (making a loan rather risky), or they fail to work or get a parental handout to the extent that you do. May be you are an exceptionally good money manager (belonging to this site could indicate that), so the best thing you could do for your friend might be to help them budget and cut back where necessary. This would give a skill for life worth considerably more than £2-400.00?
If they are family or a VERY close friend it is better to give than to loan - but then you must be able to give this amount. A simple contract is safer if you cannot give, but you could end up losing a friend - the twisted logic that gets applied makes you the bad guy for asking for your own money back!

fudgecat

Everything I said also applies to lending money to (seemingly about to be ex) girlfriends. Wise advice from jones MUFCforever.

HeadInSand_2

jay213 wrote: »

Ive got the same sort of situation but with my gf where the relationship is sort of rocky. Ive lent about £175 so far, now she seems to be getting hit left, right & centre with bills, fines, arrears she has to pay, some to keep her property. she works pt but the work is not guaranteed, i.e they can cancel shifts on the day etc. She hasnt asked me for any money yet, but she did find out a few new bills etc thats upset her today that I was told about over the phone. I could lend her some more money but with us being rocky i may never see it again

before I lent her money she tried one of those companies that guarantee loans after you pay upfront fee, she payed it and never ended up getting a loan. I told her a long time ago to get a credit card, but she says that she has been declined in the past.

What would be the best way for somebody with bad credit to get good deal on a loan or cc?

maybe I should have made a thread?

I will appreciate any advice you guys can give me. thanks

Don't do it, once you've split up and she tells you to sing for the money you'll be kicking yourself.

jay213

Yeah I think you guys are right, it will even be a while before she can give me back the £175 if we are still together let alone any extra. Thanks for the advice