money
 






 

Question by  kilua (86)

Is it a good idea to loan money to a family member with a bankruptcy?

I have a family member asking to borrow money.

 
+7

Answer by  rot (91)

It is not generally a good idea to loan money to a friend or family member, since it can ruin the relationship. It might be different if you can trust them, but the fact that they have had a bankruptcy makes that unlikely.

 
+6

Answer by  Anonymous

It's never a good idea to loan money to friends or family. If there is ever a misunderstanding or a problem, you will end up being the "bad guy" even though you thought you were helping. If they filed bankruptcy, they clearly have issues handling their money. Don't do it.

 
+4

Answer by  tamarawilhite (17883)

No, it is not a good idea. If they truly need the money and you can afford to loan what they will likely not pay back, simply give it as a gift. Or pay the bills they need help paying to ensure the money is used to their actual benefit.

 
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