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I Need To Borrow Money From A Friend Or Family Member, How Do I Do It?

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Mark Westbrook Profile
Mark Westbrook answered
Firstly, this is a very worrying thing to do, it usually causes problems within a friendship, because our friends and family are the people we most easily take advantage of and take for granted. That's a very bad thing, but it's true. So when you borrow money from a loved one, it is that person who becomes your lowest priority.

I would say always choose a family member to go to, this will prevent your friendships from getting damaged.

When you ask a family member, don't dress it up, don't butter them up, it doesn't feel genuine. Instead, just explain why and how much and most importantly how and when you plan to pay them back. This can sometimes be very difficult.

I would say that half the time, you should probably avoid borrowing money from anyone unless its absolutely necessary, as Polonius said in Hamlet (and my mother quite often), Neither a borrower nor a lender be.
thanked the writer.
Jeanne Forsythe
Jeanne Forsythe commented
Borrow from a bank and if they won't lend it, no one else should.. you're a risk and you're taking advantage of someone who loves you.
Jeanne Forsythe
Jeanne Forsythe commented
If you must and only if you must .. then set up a repayment plan and offer collateral (give them the title to your car)... hey, they're trusting you! FIRST, try to borrow from a bank or sell stuff or work more... last resort is EVER to borrow ... it will put a strain on the relationship!
Anonymous Profile
Anonymous answered
I think that borrowing money from friend is not bad.however, you should give it back on time and never think that you could spend all money without giving back
Anonymous Profile
Anonymous answered
Get a job! And save that money yourself just like everyone of the people you want to borrow money from.
Anonymous Profile
Anonymous answered
Don't borrow money from a family member since you put the family member in a bad situation. If you can't get a loan, you can't pay back the money you borrow . Get a job or get a life.

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