Helping out a friend in need- financially

[timjd]

I have this close friend who lives in Hungary (I live in UK). We have known each other for 3 years and she lived in England for quite a while. She and her family are not well-off financially. She is hoping to study for a year at college, but her ex-bf has disappeared and left her in a mess with a big credit card bill (£2000/$4000). So her mum is mad and the bank are threatening all sorts of stuff.

She has come to me for help/advice. Now i am currently unemployed (i volunteer) and living with parents. i have decided to lend her £1000/$2000, for her to repay whenever she wants. unfortunately i only have £1200 in my bank account! if my parents find out they will probably flip but... i think helping someone worse off than you is the most important thing.

 

just wondered if i was doing the right thing? has anyone got any advice or views on this?

 

tim

[annie24]

Do you need that money? I am a bit wary of lending money to friends. I mean, if you trust her, give it to her, but also feel prepared never to see it again. if you are telling her that she can take her time to repay it, what if she doesn't start repaying until 6 years from now? would that make you feel resentful? that would not be good for your friendship.

[timjd]

she is a trustworthy person, her family are strongly religious and proud. i just feels she deserves the assistance, she is a very caring person who used to be an au pair. they have a hard deal, their family all live in a flat and couldn't even afford christmas presents.

i don't NEED the money, i won't starve or anything.

[Jeffrey2095]

Hello Timjd,

 

Speaking from my own experience I have had really bad luck let's say, lending money to others.

 

It can develope into an awkward situation for both of you.

 

Now, there are some friends that are so close that I probably would lend them the money... IF I felt they had at least a reasonable chance of paying it back, and in a timely manner.

 

Jeff

[renaissancewoman101]

I've learned that it's not a good idea to lend money to friends or SOs. My ex still owes me about $1800 since I lent him $2000 during our relationship.

 

He's only paid me back about $200. I've long since given up on getting the rest.

[equinox]

Well if you honestly don't need the money then I think that what you are doing is a very nobel thing. Like the others are saying, it is possible that you won't get your money back but you know your friend best so you know if she can be trusted to re-pay you.