Reply to Would you co-sign or lend money to a family member?

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[quote=Anonymous][quote=Anonymous]GIFT.  Not loan.

Never, never, never.  A huge lesson learned and we are recovering this year.  We loaned to three people - family, employee and friend, years ago. They lived large but had problems returning the money back. We had to really beg to get the money back, and they returned it as if they were doing us a favor. We were lucky because we did not lose out a huge amount. In 10 years we were not given a single cent as interest. We also did not have any paperwork so we did not want to come down very hard.

In the end, the relationships suffered. [/quote]

Op, it depends.  Is it someone that conveniently and often "has their hand out" or is seemingly "counting other people's pennies"?  If so, absolutely not, they just want a piece of the pie, so to speak.  We have seen this over the years with relatives asking us to cosign student loans or pay mortgages  - and even gave one of them a high paying, over titled job for ten long and brutal years.  So, I would have to say anyone other than your own children?  Nope. [/quote]

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