Ask a question to other Boomeraters!

See other questions in the Financial & Legal forum

"Loaning or borrowing money from a family member"

  • TheBestLife
    Posted: Apr 16, 2009 08:51 PM
    TheBestLife
    Richmond, VA
    Phil writes a blog for the U.S. News & World Report called The Best Life.

    Have you loaned or borrowed money from a family member because of the recession? Do you have any thoughts or advice for others?

Replies

  • #1
    Proudmary
    Posted: Apr 21, 2009 02:06 PM
    Flag for inappropriate language
    Proudmary
    Denver, CO
    View Profile

    Our daughter will attend college this year, but with the high cost of tuition, coupled with the losses in our savings, we have had to face some tough decisions. Do we tell her the college of her dreams is too expensive? Does one of us take a second job? Fortunately her grandparents came to the rescue. They offered to pay the balance of the cost and what we can afford. They will pay the tuition directly, thereby avoiding the dreaded "gift tax", which I read about in your column. In these economic times families need to help each other any way they can. We help our parents with their health challenges, financial planning, taking care of their home, etc. We are so fortunate that we have a family who cares about each other. . I wish the same for the rest of your readers.

  • #2
    cathbell
    Posted: Nov 11, 2014 07:54 AM
    Flag for inappropriate language
    cathbell
    New York, NY
    View Profile

    Why not try <a title="Competition in payday industry" href="https://personalmoneynetwork.com/payday-loans/">online loans</a>? Whenever you are borrowing cash, you want to make sure you are getting the best rates possible. This is much easier whenever you get your payday advance online. You only need a couple of minutes to fill out a couple of pieces of data, and the lenders will start bidding. This means you will get the most competitive rates possible!

  • #3
    cathbell
    Posted: Nov 11, 2014 07:55 AM
    Flag for inappropriate language
    cathbell
    New York, NY
    View Profile

    Why not try online loans? Whenever you are borrowing cash, you want to make sure you are getting the best rates possible. This is much easier whenever you get your payday advance online. You only need a couple of minutes to fill out a couple of pieces of data, and the lenders will start bidding. This means you will get the most competitive rates possible! https://personalmoneynetwork.com/payday-loans/

  • #4
    poetmars777
    Posted: Apr 26, 2015 06:58 PM
    Flag for inappropriate language
    poetmars777
    El Dorado Hills, CA
    View Profile

    Borrowing from family members and friends is actually the best recourse when it comes to immediate financial needs. However, if they are unable to lend you money due to their own financial issues, your last resort will be short term loan providers which can approve your application in a matter of minutes and the money is credited to your bank account in a few hours.

    In Memphis, TN, you can apply for payday loans, cash advance, and car title loans through Quik Lend Cash at www.cartitleloansmemphis.com.

Post your reply

Do you have some thoughts to add or some advice to give?
Only registered Boomeraters can post replies. Log in to your account or Sign up now (it's free)

Reply

 

Looking for a financial advisor?

Search our extensive database of over 3,500 advisors from both independent and large firms.

Enter your zipcode below

Or use this link to find a financial advisor or find a lawyer