Do you recommend giving loans?

[Skysaint]

Personally, once I give out money of any kind to my family and friends, it's considered a lost money because there is no way I will be getting the money back as they will never pay for it.

Laughs. You're right about that. Most times we should just consider the money we give to our siblings and family as a giveaway, because I wouldn't want to see it as a lost money since it's for the betterment of the family. This is because they hardly pay back just as you've pointed out

 

[Heatman]

Laughs. You're right about that. Most times we should just consider the money we give to our siblings and family as a giveaway, because I wouldn't want to see it as a lost money since it's for the betterment of the family. This is because they hardly pay back just as you've pointed out

Exactly and it has been the same way with me when it comes to what I give to my siblings and my MOTHER especially whenever she tells me she needs me to borrow her money or lend her money, I know that it's one that I can never recover back.

 

[Lucy ID]

I don't recommend giving out loans to families, friends or someone you know without formal documentation because they might end up not giving you and end up affecting your own business

 

[Heatman]

I don't recommend giving out loans to families, friends or someone you know without formal documentation because they might end up not giving you and end up affecting your own business

Seriously, they will most likely end up with not paying for the loan that you have given then in peace but to make case over it.

 

[Skysaint]

Exactly and it has been the same way with me when it comes to what I give to my siblings and my MOTHER especially whenever she tells me she needs me to borrow her money or lend her money, I know that it's one that I can never recover back.

It's kind of a normal though but I personally can't request back money that am giving to my mother, I don't think it's proper. The one that I have a problem with is that of my siblings, they will just borrow from you and when it's time to make repayments they give you a handshake. Lol

 

[tray591]

It's kind of a normal though but I personally can't request back money that am giving to my mother, I don't think it's proper. The one that I have a problem with is that of my siblings, they will just borrow from you and when it's time to make repayments they give you a handshake. Lol

That is for your family,well all the family are not the same I think I do borrow my siblings money but only few of them do payback,as for getting the loan to start any business I think mortage banks are there which that could be done easyly

 

[Abigael]

It's kind of a normal though but I personally can't request back money that am giving to my mother, I don't think it's proper. The one that I have a problem with is that of my siblings, they will just borrow from you and when it's time to make repayments they give you a handshake. Lol

I also never ask my mother to pay back any money that I give her. It just does not sound right for me too. But with my siblings, they must pay back🤣. Otherwise, I seize giving them the money.

 

[Heatman]

It's kind of a normal though but I personally can't request back money that am giving to my mother, I don't think it's proper. The one that I have a problem with is that of my siblings, they will just borrow from you and when it's time to make repayments they give you a handshake. Lol

As long as my mother is still alive everything that I have that is related to money she gets it 100 %, so if any money that I give to her is to be returned back I might not even accept.

 

[kinqzbitz]

If you give out loans to people you know they tend to take it for granted and they might end up not paying up and so it is important to refer them to the bank if they are in need of a loan,as a family member you should guide them

 

[Sotherefore]

Well I do not recommend giving out of loan without any proper reason for which the loan is meant for. I consider a lot of things when giving out loan for people and one of the most important thing I consider is the type of business they are using it for, the stage of the business and also the possibility of returning it in the future, if I can't find satisfactory answer concerning all these I will rather avoid giving.

 

[Bookwormlux1]

I only give out money to people when I know I can do without thinking about their not being able to repay. This helps me to avoid some frustrating situations.

 

[Kaffyfolla]

Giving loan to the friends and family to me is not augur well for the fact that if they desist by not paying you back, you can not take any legal action against them

 

[Bousine123]

I will not recommend giving loans to people unless I know the person's character because some people borrow and never pay back. In order to give loan I think people should seek for loan from unfamiliar people.

 

[Good-Person]

I believe if the governments of many different countries diligently try to overcome poverty, then they can do that. They can also provide grants to people who seek financial stability by conducting businesses. If that happens people may not borrow money that much.

 

[Abasiama40]

As a business owner, I don't recommend giving loans to friends, family and other without any formal agreement is not advisable, but that does not mean we cannot help them when they are in need.

 

[Wiserr]

I don't recommend giving loans to family members or a friend. I rather find a possible way to help them than to give them loans, because they won't payback.

 

[Laurentta]

I dont recommend giving loans to friends, families or someone i know because there are always emotions attached and they misuse these opportunities.

 

[Toyoabasi]

I once gave out a small loan to a family member, that was sometime in 2018.
There was no legal binding because i was dealing with a family member.
Today, the money has not been recovered...not a dime.
I really regret doing that, and it will be very difficult for me to give out loans to people.

That is just it.
Whenever you give out a loan to a close friend or family member, just bear in mind that you may not be repaid. This discourages a lot of people.

 

[Hrtbeat]

I have been given out loans to friends without any formal repayment arrangement, and they hv been repaying when the have it.

 

[Keibah]

I will never recommend or a anyone to do such. Money is like some sort of energy that can do and undo. You'd be surprised by the attitude people portray when it is time to pay back what they owe.
To be on the safer side, always have some sort of legal agreement, only lend money you can forget and to people whom you can trust at least.