Have you had bad experiences loaning close friends or family money?

Question

2 weeks ago I loaned my good friend $200.00. He is down and out in between jobs so I felt bad for him. When I loaned him the money he couldn't even look at me in the face. He mumbled the phrase thank you and then quickly left. He said he would pay me back in a month. However, that same day he called me and asked me could I also cook him dinner, since I was off that day. I said no because I have a lot of work to do. Any way since I loaned him money he's been really acting weird. He barely says anything to me when he's around and can not look me in the eye. When I ask him hows everything going he just rolls his eyes. I mean wtf? I'm not expecting him to kiss my ***. I had no problem giving him the money when he asked since we've known each other for 12 years. However, I should've seen the red flags when his own d**n family wouldn't help.

Answer 1

It sounds like he's either depressed and ashamed or on drugs.  Anyway you can help him in either situation by not loaning any more money.

Let him know if you find out anyone is hiring and buy him a bus card to get to the interview if he needs one.  But no more money.

Answer 2

Maybe he feels bad because he asked you for it, im sure his ego is taking a beating, if he doesnt pay u back when he said he would i wouldnt do it again.  Yes, if his family wont help him something is up.

Answer 3

Well I guess it's true, hindsight is 20/20.  Never loan money to friends and family is a basic unspoken rule of mankind.  

Answer 4

Bad experiences?  I think most of them were bad.  I don't loan money anymore. As you said, borrowing friends go funny when they realise they won't pay back and you end up being the one feeling bad.

Answer 5

You won't do that again will you?  As least you have learned a lesson.

I do not borrow money to friends.  It only causes trouble. If someone asks you, simply bend the truth and say 'Sorry mate, I'm really tight myself'

The only thing I would do is actually give it to them (if I could afford it) and it would never be that kind of amount. That way there is no wierdness because they are not expected to pay it back and you don't have to wonder if they never actually had any intention of paying it back.

I had done it a few times years ago and each time I either never got the money back or had to ask for it and it made me uncomfortable.

** Never borrow money when you are drunk either!!! - you never see that money because they claim you never gave it to them!!!

Answer 6

well, well, well there you go.  you are now officially a member of the never loan money club.....

just so you know... the 200 isn't going to find its way back into your pocket even if you forgive the loan,,, the friendship is over.