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Personal loan
Saying no to lending money to family and friends
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[QUOTE="Holicent, post: 252266, member: 76163"] [FONT=Verdana]You know your family, you know how they operate. You also know what they're capable of paying back and what they aren't. Before making an offer to loan someone money, consider these questions: Does the borrower have a history of not paying back their debts? Do they have a history of borrowing from other people without repaying them? Is it worth risking your own financial situation and peace of mind for this person? If you're on a tight budget, can you afford to lose any more money? If you're already in debt, can you afford to take on more? What is the interest rate going to be if the borrower pays back with interest? If it's too high or if there's no interest rate at all, why would they pay you back when they don't have to pay anything at all? Are there any other ways that they could get the money from another source without having to borrow from you? Could they sell some things off, or maybe borrow from someone else who has more money than you do?[/FONT] [/QUOTE]
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Saying no to lending money to family and friends
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