Do you recommend giving loans?

[Deleted member 403]

Do you recommend giving loans to friends, family, or somebody you know without a formal repayment agreement, that you might get from a bank, for example? Has anybody done this before? What were your experiences?

 

[Delight]

I don't recommend giving loans to friends,family or somebody i know without a formal repayment aggrement,because i ones did that for a friend of mine,but he has not even call or care to repay,so i don't think i will be able to do that again,i have learnt my lesson

 

[Justin]

Do you recommend giving loans to friends, family, or somebody you know without a formal repayment agreement, that you might get from a bank, for example? Has anybody done this before? What were your experiences?

I have given loan to a few friends without formal repayment agreement. They needed money in order to start a business. I was taking a risk because if the business failed, they could never pay me back. Thankfully, they managed to earn profits and paid back the loan.

 

[Patrik]

you can't really know who's going to pay and who's not, giving loans might unfortunately ruin your relationship with people because some people are just not that serious to pay back

 

[Ralphjoe]

I wouldn't recommend anyone to give out loans to their friends, relatives, people in their informal relationship because this set of people are not likely to repay their loan due to the kind of relationship you have with them.

 

[Adventurer]

I dont recommend it at all, infact i have a policy that has been working well for i dont loan out money I can't afford to lose, incase it is not returned back.
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I dont recommend it at all, infact i have a policy that has been working well for i dont loan out money I can't afford to lose, incase it is not returned back.

 

[Damscooguns73]

Concerning if I recommend giving out loans to my friends,family or relatives. Well, there is actually no problem about giving out loans to family or friends but there is a way you can level their capacity before giving out the loan. If you know the person is trustworthy and capable of paying back, you can go ahead and if not, there is no need to give out the loan

 

[Setfragil]

There is nothing bad in giving loans to friends and family without formal repayment agreement but this type of loans should not be much in case they default in paying back the loan. We should always give out something we can afford to loose to friends and family if we still want to keep the relationship.

 

[Samuel77]

I don't think it is advisable for someone to give out loan to his friend or family members without a formal repayment agreement. It is not a wise decision because there is no brother in business

 

[Victor72]

Giving out loan to your family member without a proper repayment agreement it's a bad decision for anyone to take, business is supposed to be done according to the normal procedure.

 

[Eodine]

There was this friend I had grown find of and even shared money together a few times so it wasn't a tough decision when he told me to borrow money for him, I did and since then he hasn't paid back the loan.

 

[FreshKaz11]

Do you recommend giving loans to friends, family, or somebody you know without a formal repayment agreement, that you might get from a bank, for example? Has anybody done this before? What were your experiences?

Is very hard to get loan you give to relative back,so have set my self to give what I know it won't affect me in anyway when you decided not to pay me back. But as for outsider that I want to give loan,we must follow the normal procedure to be able to get my money back when is due time.

 

[Victor001]

I really recommend giving loan,it's the best supportive system one can offer,you may have the funds but not the skills, it's quite necessary to be out brothers keeper,help can come from anywhere.

 

[Nicklas22]

Giving loan to your friends and family is like giving them a gift, don't just expect them to pay back, you will end up not getting a dime from that money you borrowed them
It's not advisable to loan money to your friends and family

 

[Shigobad20201]

Do you recommend giving loans to friends, family, or somebody you know without a formal repayment agreement, that you might get from a bank, for example? Has anybody done this before? What were your experiences?

That's what we do for those we love, because we don't want them to go astray and wallow in debt, offering to lend a helping friend in need is the best thing,
But always help those you trust and won't run with your money.

 

[Cash%]

Giving loan to your friends and family is like giving them a gift, don't just expect them to pay back, you will end up not getting a dime from that money you borrowed them
It's not advisable to loan money to your friends and family

Getting back the loan is really a difficult thing , many times i have borrowed loans to my families but never got back the money at the time and moment i needed the money

 

[Setho]

Doing things with family is one of the toughest things ever to be honest. It is extremely risky that you should lend our money to your families and friends without any paper work or plan to pay. They should be made to understand that you also need that money too at a certain time and they should hasten up to pay.

 

[nimzy]

Given loans is recommendable but It depends on the level of trust you have to that person you are offering him the loan sometimes human are not truthful in time of money he can failed at time not expected.

 

[Ayokex]

When it comes to money people are very adamant and cunning, very difficult to manage. I cant give out the money I can't afford to lose to anybody.

 

[Good-Person]

I can give interest-free loans to my relatives, friends, or anyone who is in need. This is one of the best ways to help people. However, I would only give loans to people after I make sure they will be able to give me my money back and after carefully analysing their business strategy plans. No one would risk money, am I right?