3
votes
1answer
183 views

loan taken on my friends name for someone else

My friend has taken out loan for his brother in law, and is a guaranteer for two other loans taken on his friend's name. Now he is not paying his EMI, and debt collectors are troubling us. Is there ...
16
votes
10answers
5k views

Someone asks you to co-sign a loan. How to reject & say “no” nicely or politely?

Hypothetical situation: A dear friend or family member comes to you and asks you to co-sign for their loan. Let's say the reason they need the money is not a life-or-death type of situation. ...
10
votes
3answers
318 views

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?

What are the pitfalls of loaning money to friends or family? Is there a right way to do it?