I have talked about this before too. I will NEVER loan a friend money. NEVER. I may step up and pay off some debt for them (If I really really liked them ) but would NEVER loan a friend money or ask for money from a friend. Are you like that?

However, if two parties could come up with a contract and payment schedule that worked for both, woudl you then change your mind?

I know better than to loan friends money. I have watched enough Judge Judy and The people's court to know it is a BAD idea. In fact the other day there was a woman who was in Times square and she said loan a friend money end up with an enemy. I am not sure that was exactly what she said but thats the jist of it. Contracts are a must if you decide to do it. A true close friend wouldn't be offended.

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I can't imagine any of our friends even asking us for money...it's just totally a foreign notion to me. Honestly, I don't know what I'd do.

LOL!! YOu are so right with the Judge Judy!!

I would not loan a friend more money than I could afford to give them outright as a gift. I've never had a friend ask me for money, though. They all think i don't have any because I'm so cheap!!

I have loaned a lot of "Can I borrow a $20? I don't have any cash on me." kind of loans but they have always been paid back.

Other than that situation at university when I loan a friend money that was never paid back, it's never happened. He didn't really ask for it, just gave a sob story about how he wasn't going to be able to graduate and there was never enough. I had been frugal with my student loans and so I offered to give him some of mine loaned money. He went shopping for new clothes and a stack of CDs right afterwards. I never saw it again. I guess technically it was a gift but it changed the friendship forever.

All of my friends are more financially stable than we are (because of our line of work) so we're not the types that people would ever ask to borrow from.

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No. I've never been paid back for money loaned.

Well, the $20 loan is a lot more likely to be paid back than the $1000 dollar variety unfortunately. I'd say the $20 for lunch or something is fine. I'm not lending anyone large amounts. Nobody has ever asked me thankfully.

I can see loaning maybe $20.00 or under, but nothing higher. For something like that I would refer them to a bank. It's a no, no in our house.

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We have helped out friends who have had hard times in the past. Our rules are that we only give money that we have on hand that we can afford to be a gift. No strings attached because these friendships meant more to us than the couple hundred dollars they needed. That being said, we have always been paid back though sometimes it was many months after the "loan" and since we had viewed the money as a gift, it simply became a nice surprise for us when they returned it.