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The most prevalent answer by financial advisers is that a person should never loan money to a relative or a friend. I have made loans to both family members and close friends, however I did it with no expectations of having it repaid. It really is a personal decision, with several things to consider, such as the needs or the person asking for the loan, their ability to pay it back, should you get the terms of repayment in writing, and so forth. Also you might want to consider if you can afford to make the loan and the possibility you might "lose" your money? And then there is the not so small issue of what could happen to the relationship if the person does not repay you?

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โˆ™ 2005-09-20 16:20:58
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Q: Should you lend money to a family member?
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Related questions

Should members within a family lend each other money?

Only if you're prepared to forgive the debt with no ill will to maintain the relationship if the borrower refuses to or is unable to pay it back. In otherwords, can you afford to lose the money you are lending? Suing a family member for the debt would only cause strife in the family.


How old do you have to be to lend money?

Lend? Any age to lend, however parents should be advised of their children's loans they may be giving out!


Why should you not lend or borrow money from others?

First all of we live on an earth were people lie, cheat, and scam other people. So never trust giving out loans. I mean banks did it and look were it gets them sometimes. I understand if it is a family member, but still sometimes family will even screw you over.


Do you have to be a member to lend on Runescape?

I don't think so, I haven't yet tried it on non-members world, but you should be able to lend, I don't see why not.


Should you lend money to friends?

Its not a good idea, especially if you expect to get the money back, it can cause a rift when you do not get refunded.


What does mean lend your money and lose your friend?

You should not lend money to your friends; if you do, either you will have to bother your friend to repay the loan, which will make your friend resent you, or your friend will not repay the loan, which will make you resent your friend.


Can you lend me money?

no


Who will lend you money to get your truck back from titlemax?

If your credit is good, a bank will lend you money. If your credit is bad, then only a very close personal friend, who is willing to take a risk, will lend you money.


Do you have to be a member to lent items on Runescape?

No. You can lend items without being a member.


What policy relates to the discount rate to member banks that will in turn cause the member banks to raise interest rates to their own customers?

Prime Rate ---- the rate at which banks lend money to each other and the Federal Reserve lends money to banks


Can someone lend me a member account on pixie hollow?

No.


Why common financial services is an example of cooperation among member countries of the oecs?

1.because they can lend money to each other member state 2.they can help with the development of each other's country.


Did America lend money to Hitler?

No.


What is it called when you lend money to a bison?

A BUFFA-LOAN!


What is prime rate?

It is the lowest rate that banks lend money to busines or consumers. It is the lowest rate that banks lend money to business' and consumers.


How can a bank create an infinite amount of money?

Banks do not create money, they only use the money from saving accounts and lend it to people. When they lend the interest from the loan is profit for the bank.


How do you lend in RuneScape?

when you are trading at the bottom of the trade screen it should say ''lend''


Who can lend you money for a house?

people at banks


Is it irresponsible to lend money to students?

yes


Can anyone lend some dollars?

No I have no money


How do you lend swords on runescspe for money?

Decide how much you want to sell it for, then when you are in the trade right click on the Sword (or whatever you want to lend) Select lend and there you go!


Is it bad to ask boss to lend you money?

It might be bad to ask your boss to lend you money, but it really depends on the type of relationship you have with your boss. If you are also friends, it might be fine to ask for money.


Why do bankers lend money and give credit?

Banks lend money because the interest paid on those loans is one of the ways in which they make a profit. Another way they earn money is to invest the money that is deposited in their bank.


Are there any other agencies aside from banks that I can borrow money from?

Besides a bank, you can borrow money from a credit union. However, you must be a member of a credit union you borrow from. A bank will lend to anyone who walks off the street.


What do you get your dad if you have no money?

You get him something home made or ask someone to lend you money