How to Loan Money to a Friend

If you loan money, get collateral from the borrower like a piece of jewelryYes, you’re reading the title correctly.  It’s not “Don’t Loan Money.”

Traditional personal finance advisors say you should never loan money to friends or family members, right?

Count me in as a fully tenured professor in that School of Thought.

What if you decide to ignore the advice and become a lender?

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I Loaned and Lost $5,000. I’m Not Rich. So Why Was it No Big Deal?

I loaned money to my sister Ken is not rich.

He’s a practical, budget-conscious research analyst in his 50s. The last person I thought would be featured in one of my “stories.” You’d never pick him as a fellow member of the Oooops-I-Screwed-Up-When-I-Loaned-Money-to-a-Relative Club.

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My Co-Worker Worked Me Over and Left Me In Debt

Co-worker ripped me off and left me in debt She became ensnared in a co-worker’s web of debt.

It started with $5 or $10 cash loans for his lunch money and ended with her getting stuck with astronomical debt charges for a rental car.

Sheila had her first supervisory position at a call center where the management/staff lines were a bit blurry. She was friendly with one of her subordinates, a married man named Tim, although their relationship was strictly platonic.

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