Would you lend someone money in this situation OT?

Today I got a text message from my friend, and he was saying he regretted asking me but he needed helping "saving" his house, after I asked him what he meant he said his family's house was in danger of being foreclosed and he needed to borrow some cash.

When I asked how much he said 12K was what he needed. This guy has been a real close friend of mine for 10 years since we first met in the 2nd grade and have been close ever since. I've never asked him or his family for money or anything though so I'm not really sure how to react to him asking me. There's no way I'd be able to give him 12K or anything close to that really I'm 18 years old, a student in college and I'm not really made of money, the best I could probably do is a few hundred and even then my cash is tight right now with me transferring to a bigger university in May

So for this matter, I'd love to hear some of the immortal wisdom/advice of OT. So OT what would you do? would you give your friend some money in this situation or no? I honestly would if I could since we're pretty good friends but I have my own expenses to worry about

Such a hard question... do you put yourself first or your best friend in this situation :|

Give what you can to him that won't sink you.

Freinds look out for each other..12k is alot though and alot to ask.

scam alert?

Does he not have anyone else to go to ? I mean asking 12k from an 18 year old is a little far fetched, my truck isn't even worth half of that ..... raiden509

I dunno, I think his folks are out of work and they don't really have many relatives that are reliable. I'd be more than happy to try and find legal help or some kind of program for them but yeah I've gotta agree 12K isn't just pocket change lol

I don't loan anything I actually expect to get back. In this situation I probably wouldn't even bother loaning anything cause it sounds like a futile situation.

How old is your friend?

I wouldn't lend any of my friends that much money in any situation. Yeah, I'd give them maybe a couple hundred if I trusted them but I would never give them thousands of dollars.

If you HAD the money then I'd at least expect him to ask in eprson, or maybe ask to sit down with his family and discuss it, but seeing as you don;t have 12k for him I'm not sure a few hudnred will him him at all. You don't have 12k or a sizeabe chunk of what he needs so just tell him you can't help, but offer whatever other support for him you can.

A few hundred won't save his house.

I'd say speak to him and his family first, in person. Get the low down on what's really happening. Then offer what support you can. Friendship and money can be like oil and water. A couple hundred dollars is one thing. Thousands of dollars is another.

It's his dad's responsibility not your's. I recommend you stop being his friend. Second_Rook

[QUOTE="Second_Rook"]It's his dad's responsibility not your's. I recommend you stop being his friend. worthyofnote

Never give money to someone and expect to get it back... Even thou it's a 'loan'.

He wants 12k and he didn't even speak to you in person? :Pmsudude211

Ah, another friend asking for money eh? See this is why I don't have friends, they lure you in with good intentions, and fellowship, but when it comes down to it it's the money they want.

I never LEND money to friends. If they need, I GIVE them what I can, because I know that getting repaid can cause seriously problems later on.

In this case, and maybe this is off topic, if the family is going into forclosure, how does sinking ANOTHER $12K into debt going to help them? Unless, of course, they NEVER even PLAN on paying you back.

I never lend money. I am either going to give it to someone or not. I suggest you take this approach as well.

my friend once lent me £800 without question xD they didnt even ask me how long for i only needed it for 2 days but still thats what i call an amazing friend :'P

I would suggest you offer him/her to stay in your house and live with you guys since you can't/shouldn't loan the money. Say that true friendship should not be based on financial need but rather emotional support. or something. :P

my friend once lent me £800 without question xD they didnt even ask me how long for i only needed it for 2 days but still thats what i call an amazing friend :'P

BlindBluMonstah

TC, maybe you should introduce your friend to BlindBluMonstah's.

Never lend any money to anybody. Ever. End of story.

You should seriously talk to him in person about this because I suspect you're getting scammed, and if someone has got ahole of his number to scam you then they're probably trying it with other friends/family/contacts of his as well.

Now with that said, personally I never lend money as I know chances are I won't get it back and asking for repayment can cause a strain on personal relationships. If I friend asks me to borrow money I'll give them money (assuming I have it and can spare it) without expectation of repayment. That way my friend gets what he needs and I get the joy of knowing that I've helped a friend in need out (or funded his beer run). If the friend does pay me back then that's just a nice bonus.

You should seriously talk to him in person about this because I suspect you're getting scammed, and if someone has got ahole of his number to scam you then they're probably trying it with other friends/family/contacts of his as well.

Now with that said, personally I never lend money as I know chances are I won't get it back and asking for repayment can cause a strain on personal relationships. If I friend asks me to borrow money I'll give them money (assuming I have it and can spare it) without expectation of repayment. That way my friend gets what he needs and I get the joy of knowing that I've helped a friend in need out (or funded his beer run). If the friend does pay me back then that's just a nice bonus.

worlock77

I've loaned money to friends in the past. Based on those experiences, I'll never loan money to anyone again.

Perhaps in a life and death situation for a close family member, but nothing else.

Just tell him you don't have the money (which is the the truth) and leave it at that.

No I wouldn't. The fact that they asked via text, for an unreasonably large sum of money, would be enough for me to say no, even if I did have the money.

I don't think I would. I may if I was in the proper financial situation though.