Reply to Would you charge a family member interest?

Forum Index » Money and Finances

Reply to "Would you charge a family member interest?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]No. If you don't want to lend your $$, don't, but charging interest to a relative turning to you in her/his hour of need is the height of usury. Do everybody a favor, and just say "no" outright.[/quote]

Charging a below market (but non-zero) interest is the "height of usury"?  I do not think that  word means what you think it means.  And why would it be better to refuse to lend at all?

I might charge a small interest rate partly to keep it more formal and partly to avoid any possible tax issues, but if I thought it was just going to be a pain to calculate I might not.[/quote]

Because it would be better to give a loan with no interest as a gift from the heart or not at all. Nobody on DCUM is a bank. If a relative came to me in a moment of desperation for a loan that he couldn't get from a bank, any interest would be too much. Remember, in several major religions, charging interest is considered a sin. On a personal level, if I charged a relative interest in a time of need, particularly now that the government is about to shut down and many people won't be able to pay their bills, that would feel like usury.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics