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Money and Finances
Reply to "Offered friend loan of $80k"
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[quote=Anonymous]Thank you for all your responses. I think I did act impulsively and I need a longer conversation with her about other options. I was the first one she told about her problem. She's been slowly building up debt and not telling anyone for years. She's been moving the debt around at 0% interest but I think it's reached a point where she has to start paying the interest. The consumer credit counseling is a great idea. I did not know there was such a service. I will ask her to look into getting a home equity loan as well. She bought her house many years ago so I know that it has gone up a lot in value. I don't know what the remaining mortgage is but I think they are capable to getting a second mortgage out on it. I did speak to my DH about it last night and to my surprise he wasn't mad at me. He said if I'm financially capable of helping her then I should with the knowledge that I may never get this money back. [/quote]
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