O.T.- What is your guys thoughts on loaning people money?

Iceman · May 6, 2006

Probably my biggest weakness is the fact I can't say no to my friends.

The thing that pisses me off the most is when I have to ask for MY money back because they avoid me and don't bring it up.

I always tell myself that I am done loaning out money because I always end up losing out in the long run, whether it is never paid back, ATM charges for getting it out or me feeling bad and taking a few bucks short back from them and calling it even.

Once again I have over 2k loaned out to a few friends who are down and out and the "I will pay you back in a few weeks" is now a few months.

Does anyone have any good excuses/stories to tell some of them when they ask again? I don't feel I should have to lie and tell them I can't afford it and saying I don't like loaning money out makes me feel cheap and cold, when I am neither. I need something to say that doesn't make me look or feel like a bad guy .

Illini · May 6, 2006

Just tell them that you are not a bank, and that you no longer make loans of any kind because you have gotten burned in the past by people you thought you could trust.

RobFunk · May 6, 2006

I know what you mean. And I'm terrible about asking for it back if they dont on their own. But I dont forget.

Then I've been on the other end of the spectrum where I have the money and I go to pay the person back and they ask for it before I can even get my hand in my pocket. I'm so glad I havent had to borrow money in ages.

RobFunk · May 6, 2006

Illini said:
Just tell them that you are not a bank, and that you no longer make loans of any kind because you have gotten burned in the past by people you thought you could trust.

Did that one woman ever pay you back? Was that you?

Illini · May 6, 2006

RobFunk said:
Did that one woman ever pay you back? Was that you?

Nope. I didn't get one penny back. That bitch finally responded to a text and we worked out a $50 a month payment plan. Then, another two months went by, and no payment came. She will no longer respond to any text messages or calls, she just ignores them. I'm half-way tempted to do that small claims court judgment, just because she is a selfish bitch. I'm not really wired like that, and can forgive and forget usually. But the fact that she just won't respond in any way at all, I might have to do something in return this time. What do you think?

Fishhead · May 6, 2006

Currently have no less than 15 individuals that owe me money.

No biggie

RobFunk · May 6, 2006

What do I think. You're really nice guy Illini. I think she burn in hell for taking advantage of a nice guy lol.

Small claims is such a hassle. Me personally I would probably write it off as a mistake and try to forget about it, but most of these guys probably wont say that. The principle of the matter makes it sucky though. It's almost like someone was nice to you and they are your friend then they borrow some cash, and stiffing you is more important than being your friend and thats the aspect of it that sucks.

Now if its a guy friend, you probably care less if he's your good bud or something. Still ticks ya off though

maxdemo · May 6, 2006

Thats a tough one...You say no more and have to put up w/ whatever comes of it. Dont mean to pry but are these loans to cover Gambling habits?? If so you should never...never loan someone $$ that gambles...JMO

Dante · May 6, 2006

NEVER loan money to anyone ESPECIALLY if they are going to use it to gamble

RobFunk · May 6, 2006

maxdemo said:
Thats a tough one...You say no more and have to put up w/ whatever comes of it. Dont mean to pry but are these loans to cover Gambling habits?? If so you should never...never loan someone $$ that gambles...JMO

. .Or does drugs.

I had a former friend turn to crack. This is why I say 'former' lol. The guy actually had the nerve to knock on my door at 6 am looking for 10 bucks he looked so strung out. I had the cash sitting out on a table from emptying my pockets out from night before. The cash is in plain view, I'm just like "nope I dont have it. I gotta get back to sleep. c-ya." I shouldnt have even let him in the door for those few minutes but see I'm too nice, I have a tough time just shutting my door on people.

Locinos · May 6, 2006

I've loaned money to friends and families. After the experience, I will never loan money to a family again. They take you for granted and never pay it back.

docmercer--banned · May 6, 2006

Ice:

can I borrow 10k ... I am good for it, baby!!!

oldirtyku · May 6, 2006

I am owed around 11k from my local and 2 friends for the last 2 years. I am pretty sure I am not going to see a cent of it.

I do not loan anyone money anymore.

viking611 · May 6, 2006

I don't know why people need "good reasons" to tell someone. Just say you don't have the fukcing money to lend them. Or like my DARE teacher said...JUST SAY NO!

Kiss1 · May 6, 2006

Fishhead said:
Currently have no less than 15 individuals that owe me money.

No biggie

Fishnet, I'll give you the five bucks at the bash.

Thanks again.

- K1

Bennyshoe · May 6, 2006

I would never loan any money to anyone. My mom owns a restaurant and has made the mistake of loaning people money too many times. Some have paid it back but others take off before they finish paying it back.

It's easy for people to ask for money but when you ask for them back they get all pissy about it.

I'm still young so I've never had friends ask me for money but I certainly won't. I've learned my lesson through her.

X-Files · May 6, 2006

ice man said:
Does anyone have any good excuses/stories to tell some of them when they ask again?

The truth as Illini posted sounds good to me.

But for the ones that owe you & are overdue by months, tell them that
this has been a wonderful experience for you since you've found out
who your real friends are. Oh, and by the way, you've hired some big
black bikers to collect.

Woody0 · May 6, 2006

ice man said:
Does anyone have any good excuses/stories to tell some of them when they ask again? I don't feel I should have to lie and tell them I can't afford it and saying I don't like loaning money out makes me feel cheap and cold, when I am neither. I need something to say that doesn't make me look or feel like a bad guy .

No excuses /stories needed. I say I don't loan money and if I don't borrow money. Applies to the guy who wants $100 in the poker room since he "forgot" his ATM card which is the only place I've been approached.

Insiders · May 6, 2006

Depends on WHO it is.

Family is like Flsuhing it down the toliet.

Friends pay it back, if its not too much. Never let them have the FULL amount.

Have probably loaned people money 100 times in my life and only 2-3 stiffed.

Stocks · May 6, 2006

Just say no if they're really a friend it should'nt damage your relationships with em and if it does they're not realy your friends. I dont mind lending small amount of money like $100 or less in the case a buddy is stuck for it and you want to go drinking or play golf or pick up a bag of weed or something although in that case I would'nt lend anything I'd just pay for it and if it were me that was short on dollars one of my buddys would pay no one keeps track and it all evens out. But I would never lend anyone big money