Will you ask your sibling or parent to pay back the money they owe you?
Um, yes and no! Yes if it was something that was promised to be paid back and it was a large sum and no if it was done out of the kindness of your heart as a token of appreciation if they asked and it was needed. When lending money it should be done willingly not forcefully. But then again in many cases lending MONEY has destroyed a few relationships especially family.
It's tough to lend money to family members and having to ask for it back creates some stress .
A signed contract at the time would stop all future problems and let family members know you are expecting to be paid back.
Lending money is always difficult at the best of times. With family it's even more difficult.
However a loan is a loan. If I leant money because I was asked for it, then yes: I would ask for it back. I'd possible even agree a date by which I would expect it back.
On the other hand if I leant money without being asked and I knew I wasn't going to get it back, that's different.
Experience has thought me to be very precise about what's a loan and what's a gift. And pay back on a loan is none negotiable.
Yes, I have in the past and I will again if that was the agreement between us when I loaned out the money. It also depends on the amount of money. If it's $25 I may say keep it as a gift but if it's $1000 - ummm yeah, I need my money back.
depends on the relashoship i have with them there current situation and how much they owe me
Mostly No! A sibling or a parent have the moral right on your money according to me...in a more old-fashioned and family oriented way that is. Asking them to 'return' the money they 'owe' you could cause a problem in your relationship.
However, if there's a proper understanding, ie., if you both can talk about money borrowing and lending in a casual way, its good to ask.
All in all it depends on how mature is that person, do he/she take personal/ money issues personally; then its safe not to ask. And if they're broad-mined enough, then what's stopping you?
Lastly, it also matters on what were the circumstances that lead you to lend your money in the first place!!
Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
Hamlet Act 1, scene 3
If I loan money I don't expect to see it again or don't loan it if I can't afford to never see it again.
by Gary Anderson 7 years ago
I bet you didn't know, with the way the banksters treat you, that when you deposit to the bank, it is a LOAN to that bank.You need more respect, after all, they are the borrowers!!!
by Readmikenow 3 years ago
How do you get relatives who owe you money to stop ignoring you and pay up?
by Rajan Singh Jolly 6 years ago
How do you deal with people who are always asking for a money loan?
by JP Carlos 5 years ago
Are you comfortable lending money to your family and friends?They say it's harder to manage relationships when money is involved.
by Shil1978 5 years ago
How to Say No to a Friend Asking to Borrow Money?
by Susan Keeping 9 years ago
Has anyone here loaned money through Kiva? I did it for the first time today and it feels good. You can donate as little as $25 to help small business in third world countries; although they now loan to Americans. They money is eventually paid back and you can either cash out or invest in another...
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