non dirty clicky

jennlin

a good friend of ours is in a money pinch. h and i offered to lend her money. she feels weird about us wanting to write it out in contract form. she has plans (via text) to pay us back $100, once a month.

 [poll]

h said he's fine with it....so we said okay. and really, it isn't a *lot* of money. 

jennlin

LegalBritt:

My rule about lending money to friends and family is that you have to view it as a gift and if they repay it, all the better, but if I'm willing to lend it, I have to be willing to never see it again. I like to manage my expectations

i usually am like this...for smaller things, under $100....but she needs cash for an upcoming vacation (irresponsible, i know), but she ran into unexpected car trouble 3 days before departure, and was thinking about canceling her non-refundable ticket because she would have no spending money at all on the vacation.

karimychel

I'd loan it to her and if you never get it back, I suppose it shows what type of friend she is. 

jennlin

LegalBritt:

jennlin:

LegalBritt:

My rule about lending money to friends and family is that you have to view it as a gift and if they repay it, all the better, but if I'm willing to lend it, I have to be willing to never see it again. I like to manage my expectations

i usually am like this...for smaller things, under $100....but she needs cash for an upcoming vacation (irresponsible, i know), but she ran into unexpected car trouble 3 days before departure, and was thinking about canceling her non-refundable ticket because she would have no spending money at all on the vacation.

Ahhh, I see. So you are basically lending her "fun" money instead of necessary money. I would expect that to be paid back I think. I still don't think I'd do a contract though. However, it is weird that you brought it up and she wasn't willing to sign it. If my friend lent me money and asked me to sign something formal to repay it I may have hurt feelings but I would sign it in a heartbeat.

h says i watch too much judge judy / judge mathis / judge alex/ peoples court.... i always want a contract for everything

i brought it up casually, and when she said it would make her feel weird, i said it was "for her" anyways....she feels weird about borrowing money already, so i told her it would be a way where she knew she had a plan to pay us back.

personally, if i were borrowing money from a friend, i'd probably be the one drawing up a contract with terms, late payments, etc.... i watch too much court tv.

jennuinne

It depends on the friend and what it's for, but like pp I wouldn't plan on it being repaid and I would be glad if it was.  I wouldn't do a contract, it feels weird, unless it was a lot of money.

MiniSteph

I like how it's split right now.

For that amount of money yes. I would just feel better in the long run.

KST_

jennuinne:

It depends on the friend and what it's for, but like pp I wouldn't plan on it being repaid and I would be glad if it was.  I wouldn't do a contract, it feels weird, unless it was a lot of money.

This. Exactly. Although I'm not sure what a "lot" of money my threshold would be at.

avila01

It depends on how serious you are about being paid back.  If you'll just let it go if she doesn't pay you back (and you genuinely won't hold it against her), then there's no reason for the contract.  If you'll be annoyed if she doesn't pay you back, then write out a contract.

I once (okay, more like three times) loaned a chunk of money to someone I was dating and never put anything in writing.  Then we broke up...and dang, getting that money back was hard.  I was definitely kicking myself for not putting anything in writing.