1. Home
  2. payment
  3. Lending A Friend $300?

Lending A Friend $300?

By pay online Posted in: payment

I have a friend who wants to borrow $300 from me. We both work at the same job together and for the 2 years ive know him, hes a pretty good guy. Hes always nice to me, we talk about games alot, etc. So all and all hes a pretty good friend.
Hes never asked me for a favor like this before, not even for a dollar. Suddenly today he says he wants to talk to me and says his dad messed up his bank account, because he had lent him some cash, and his dad got the cash early, causing overdraft on his account. Plus bills and such, equaling about 600 dollars in overdraft. He has half of that, so he paid half, but he wants to borrow $300 from me to pay of his debts, and he says he will pay me back in 2 weeks, in 2 payments of $150.
Should i do it?

«
»
Sign up for PayPal and start accepting credit card payments instantly.
  1. Exeter Says

    It sounds like he probably will pay you back, but money lending often ends friendships. So, I dunno.
    You know he has a job, so you know he can get the money to pay you. He even offered a structured payment that you both know will be achievable based on his pay schedule. It seems like he’s trying to be as “legitimate” with you as possible. These are all good signs.
    The thing to ask yourself is how you will react if he doesn’t pay, and whether those possible consequences are worth giving him the money in the first place.

  2. John W Says

    Not a good idea. If you do, you should pretty much consider the money gone. He probably shouldn’t of issued bad checks, he may have been better off just stalling on some payments. The laws about checks are way more serious than not making the payments. That’s because checks have been around forever so there’s a lot of law about them.
    Ask yourself, would you gift him with $300 and if the answer is yes then do it but just don’t expect it back even if he says he’ll pay.

  3. ag318pun Says

    There are 3 kinds of people that you don’t lend money to.
    Friends. family and neighbors. But if you must, get it in
    writing or at least get something of equal value from him.
    Like a TV or a Computer. When he pays all the money
    back give him back his belongings.

  4. Jacob Says

    No.
    Never lend money to anyone unless you are OK with losing it. Are you alright with losing $300? If so, then lend him the money. Because there is a strong possibility he won’t pay it back.

  5. angela Says

    Your friend’s story lacks credibility; I wouldn’t do it.

  6. Jo W Says

    No

  7. Tricia Says

    he’s way out of line asking you for money and i doubt that he’ll pay it entirely back. if you’re determined to do this then go to an office supply store and purchase a cognovit note form. complete the form, add on what interest and late fees you expect, spell out the payment dates in their entirety and go with your friend, the cognovit note to the bank and have his signature witnessed and norarized. this will give you actionable means of suiing him for default should you need to. do not be talked into anything! do NOT overlook or bypass the cognovit note and appropriate procedures unless your willing to hand over 300 and never see it again.

Leave a Reply

You must be logged in to post a comment.

More Interesting Things

payment

©2011 Fave Payment Online, All rights reserved.