Although it's none of my business I just got really upset with my parents for loaning my uncle $12,000. I've made it a habit to never loan money to friends or family for fear that I'd have to take legal action if someone decided they weren't going to pay me back. If someone asks me for something I'd much rather give it to them then loan to prevent any future problems.

What bothers me so much I guess is with that amount of money it's pertinent that you draw up documents that acknowleges that the funds are in fact a loan and also spells out the terms of the loan agreement. I would think my dad who has been in the law profession for ages would have the common sense to do so. When I asked him about it he refered to a code of honor among men when you borrow something you return it no documentation necessary. My uncle needed the money to pay off back taxes, my theory is this if he can't pay his taxes what makes you think he's gonna pay off the loan.

It's not my business and I'm fully aware of the but the whole thought of someone borrowing to that extent from my parents is somewhat bothersome. I guess I'll sit her and try to stop myself from spontaneously combusting due to my anger, lol. Because speaking to my dad is not getting me anywhere.

How do you feel about loaning money to family and friends?

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I don't loan money at all. There was a time that I did, but had to learn the hard way. Never again.

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I will do it depending on the person. My only rule is that I only loan amounts I would be ok not getting back.

I quit loaning money sicne Middle school. I leaned some dude a dollar he has yet to pay back.

I consider all loaned out money as lost (because there's always a chance you will never see it again) and so with that being said I never give away more than I can afford to lose.

I rarely loan money but will. I have people in my family who are less fortunate than I. My policy is 1. Never loan more than I can afford to lose. 2. If a person burns me once, never loan to that person again.

I would never loan a family member or friend anything..but i would give them money..and if they can and decide to pay me back i just consider it a bonus

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I'm actually in the midst of this situation right now. Loaned my sister $200 about 3 weeks ago. She SWORE she'd be able to pay it back the very next week when she got paid. So she calls me up on her payday saying she "miscalculated some expenses" and would not be able to give me back the full $200 but could give me half. (My policy #3 is I only accept pay back in FULL ie.....if I give you $500, I want $500 back up front not $5 here and there untill the full $500 is paid). So I say no, just hold on to it untill her next payday, put another $100 with it and give me the whole $200 back. So I wait. Next payday she calls and says she really needs $100 and won't be able to pay me back THIS payday. I say no prob. Now the thing is. I can respect the fact that she is at least calling and acknowledging she still owes the money. Truth be told, I really don't care if she pays the $200 back or not but if she should ever need to borrow again, based on this experience. I'd give it to her. Now my OTHER sister is a whole nother story. Loaned that heffa $600 3 yrs ago. She actually signed a promisory note with intent to pay me back when she "got her income tax". Haven't been paid and the heiffer hasn't ever mentioned the loan AND had the nerve to start treating ME funny for a while. No hard feeling, I've never even mentioned it to her (actually didn't expect her to pay it back) BUT she'll never be able to borrow another penny from me ever again in life.

I don't loan out more than I can afford.

You should have taken that $100, at least you would have had half of the money.

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