Lending Money To My Relative (Urgent)

last SG · 2011-09-05T17:37:33+00:00

If he or she defaults on payment,what will you do.??Many lenders says they will pay back,but in the end.....sad story.!

Veggie Bao SG

We dont know becaue we are not lawyers here.

Maybe yes you should make a visit to a lawyer's office or a notary's office and make a seal.....I am not sure about this.....

But anyways, is it appropriate to charge interest ?

Even if you are not close to the relative......still he / she is a relative to you and your family.

If I am you, I give 0% interest.....in other words, no need interest lah.......how much returns do u expect anyways ? Maybe you can calculate the amount and can consider whether you can waive it.......

JerryJan SG

if u treasure his kinship den u shd lend him the $

nth can buy back the kinship once it's lost

even if u millionaire also no1 will care abt u

FireIce SG

obviously the rship with this relative nt bery good.
treat as do a good deed

Veggie Bao SG

One way to do it.....wisely...is that......calculate the amount of interest that you can reasonably waive and is acceptable to you, and then work back and arrive at the amount.......

For example if you dont want to waive the interest on 100k lets say, then maybe you give 50k interest-free loan instead. Just say this is the amount that you can afford.

In this way you can avoid some impression that you are being mean by charging interest on a desperate call for help on a life and death situation.

It looks a bit better. Maybe you can consider it.

If the amount is not enough for the relative, it is still ok, he/ she can find others to seek help from for the additional money.

I really think it is a little bit not nice for you to charge interest. You can consider using this method or think of something else.

angel7030 SG

obviously the rship with this relative nt bery good.
treat as do a good deed

Cannot, later many relatives come knock on his door

angel7030 SG

First, look at what option this relatives of your have, maybe they got lots of gold, can pawn maxi cash and take the money, or can sell some of their assets to make money, or can ask bankloan with mortages. When all options dried out, then this relatives of yours must be damn poor, then you see what you can do, hold a big relatives meeting and ask everyone chip in to help.

Loor SG

2 sides to a coin;

relative make request, up to you to accept or not and decide if u want to charge interest or not also. Then, up to relative to accept your conditions if there are any.

The things about relationship can be a hard one. Technically speaking, you can 'name your price' and if they don't accept, they shouldn't blame you, because they are asking for your help. Everyone has their own things to think of.

On the other hand, if you value your earnings more than a relative's life, then you might want to confirm if you feel right about those priorities. Again, your decision.

Maybe if u don't want to give too much and hence have to worry about interest...maybe can help by lending a smaller sum?

Llg2178 SG

We are responsible for our decision. We should not point the finger at others at the end of the day. Please make a wise decision. Good luck!

likeyou SG

Seriously speaking, I really dont like to lend money to people.

Why?

Lend money is easy, you ask money to return back is difficult. You get what I mean?

Esxpecially relatives, if you want to lend them money, tell them I will charge for a interest cos if I dont lend you, I usually park my money in FD.

How much you going to lend to your relativers? $50,000?

dragg SG

the govt wont go after someone who loans money to one relative. or are you loaning to all your relatives?

likeyou SG

Some relatives will not return the money once they get the money from you. It will be difficult to ask them back.

Unlike friends, you can tell them directly when they going to pay you back.

But once again, lend money easy, return money difficult.

With this issue, you will be able to see how good he is.

JerryJan SG

last sunday a ex-colleague just sms me say she out of job,

ask me to lend her $

I nvr dare to reply her sms

dragg SG

Some relatives will not return the money once they get the money from you. It will be difficult to ask them back.

Unlike friends, you can tell them directly when they going to pay you back.

But once again, lend money easy, return money difficult.

With this issue, you will be able to see how good he is.

friends also difficult to get back.

in fact be prepared to write the money off...

angel7030 SG

last sunday a ex-colleague just sms me say she out of job,

ask me to lend her $

I nvr dare to reply her sms

Aunt, I also got no job, can lend me some??

angel7030 SG

If it is hard earn money, meaning your sweat, blood, brain, strength, open legs or hands or whatever earned money, it best you keep it to yourself, you only can lend out to anyone if you have spare money that you won from 4D, lucky draw or toto, or won in shares, but that also need to be prudent about it

troublemaker2005 SG

money management is the problem. real like example. i know one housewife always no money, but basic things like how to control household expenses this and that also cannot manage, that's why even poor always no money! then don;t wanna just get a work everyday clean house so that her mind is occupied - ended up most expenses or money she had spend on - washing power, even clothinig wear once for a short trip to market come back must put one handful of washing powder to was, wash use detergent and water to wash the whole house every day at least once - shower three times a day, herself and on all the kids. ended up utitly bills every month even without aircon over 100 200 dollars - even back in the 80s 90s days. see stuff with the color she likes just buy, ended by somewhere got cheap sales bought 50 over cans of air refresheners - wow tok about mental this type really is got one wire lose!

troublemaker2005 SG

last sunday a ex-colleague just sms me say she out of job,

ask me to lend her $

I nvr dare to reply her sms

really no moeny can get gahmen help 1. that's really no money even to eat

troublemaker2005 SG

Some relatives will not return the money once they get the money from you. It will be difficult to ask them back.

Unlike friends, you can tell them directly when they going to pay you back.

But once again, lend money easy, return money difficult.

With this issue, you will be able to see how good he is.

a lot of this type of people 1 lah. last time new in one job got lunch catering our workers buy order in bulk 1 so morning always collect money. when i go order always got china foreign labor ask me got change or not, he no change can pay for him first?

long time never encouter things like that already - quite refreshing, but i reacted like ' balls to you' in a very polite way

LuvCoffee123 SG

i would suggest you can ask them to take loan from BANK or Old Money Lender in market.

Hmm... i think they call Quick Credit. Im not here to advertise, i just heard from my friend that this credit company not bad.

here's the link: http://www.quickcredit.com.sg/

sometimes it is better that, you advise them to take loan from Bank or Money Lender. Because protect you and your relative to avoid any misunderstanding

Cheers...

Fcukpap SG

haiz....why so many people like to lend money without interests?

« Previous Page Next Page »