I loaned a family member 10K nine years ago and have been paid back O. Never again!
3 Likes
If youre loaning to family or friends, you nedd to be willing to consider it a gift.
4 Likes
The good thing about giving money to family members is that you know a lot about them.
The bad thing about giving money to family members is that you know a lot about them.
The next-to best thing about giving money to family members is that you feel good doing it.
The very best thing about giving money to family members is that you find yourself in a position to be able to do so.
1 Like
I’d like to join in the chorus of people saying to not give them a “loan”.
My policy has always been that I only give “gifts” to friends and family and that I get to choose the amount that I’m comfortable giving.
Like, if my brother asked me for 2,000 dollars for auto repairs, I’d likely say that he could have 1,000 as a gift and that he’d need to find another way to get the rest of the money.
2 Likes
I am probably going to help them, but I …
Are you asking the best way to write up an enforceable agreement for repayment?
I GUARANTEE you that their ‘needs’ will continue once this starts.
2 Likes