Quote:
Originally Posted by ken0042
Have you already told him you have that much in savings available? If not- the easy answer is "Sorry- I don't have that kind of money available. I would have to borrow it myself to lend to you."
Personally they only time I lent a friend 4 figures; it was a friend who I had routinely lent and borrowed back and forth hundreds at a time. And that $1000 loan was for some immigration stuff for his family (which is pretty important), and not a vacation.
Tell him to go to Well Fargo. (Formerly Trans Canada Credit) They will lend anybody money. (at 33% of course.)
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He already knows I could lend him the money, but I told him I would need it in a few months. He barely works in the winter so that will be a problem and really I am not in the position to lend someone that much money for that long.
He'll get over it, and I'm sure he will find someone else who will let him borrow the money. I just think it's pretty dumb to go on a vacation you can't afford to go on and think you will magically be able to pay someone back in a decent time.