Tuesday, April 7, 2009

Can you lend money to a friend or a relative safely?



By Sidney Perez.


With the financial crisis, banks are not able to lend a lot of money anymore. So, maybe, if you need some money, you may think about asking some loan to a friend or a member of your family.




However, you know that it can be dangerous for your relationship with the person who lends you money.


Indeed many stories tell us that the loans between friends or brothers have often a very bad end when the borrower cannot reimburse or, worse, do not want to reimburse his loan.




Have you ever heard these stories in which the borrower is very nice with his potential loaner and calls him almost every day to have some news and talk with him?


However, once the borrower gets the money, he begins to call less to his loaner ( a friend also). And after 6 months, not only he doesnt call him anymore but he never answer his phone when he sees the phone number of his loaner.




These stories are horrible, and most of the time, the loaner has no power to get his money back.




However, normally a good friend will do his best to reimburse you, and in order to make these good friends able to lend you money without the fear or not being reimbursed, I found one company that ensures your loan : Virgin Money.




Thanks to this company, you can lend money without being afraid of deteriorating your friendship because of money and be able to act as a true friend and help your friends.




So, keep your friends, help them, but be careful and take some precautions to avoid conflicts.




Sources






3) Personal experience


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