Linked Questions

32
votes
11answers
11k views

Should I charge my children interest when they borrow money? [closed]

My children (both male, ages 25, soon to be married, & 32, married) have borrowed money from me and my wife on several occasions. They have yet to pay us back what they borrowed. We have never ...
23
votes
7answers
8k views

Would it make sense to take a loan from a relative to pay off student loans?

Together my wife and I have about $80,000 in student loans. My mother in law is in the process of selling her house. We proposed the idea of borrowing ~$50000 from her, once she sells, so that we ...
22
votes
5answers
8k views

Should you co-sign a personal loan for a friend/family member? Why/why not?

I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? What are things to ...
21
votes
9answers
5k views

Is this investment opportunity problematic?

I recently got an email from a close friend of mine, that goes something like this: We're looking to sell our rental house and buy a new one. We found one we like, but the housing market is very ...
15
votes
5answers
2k views

What do you do when a family member won't pay you back?

What do you do when a family member won't pay you back?
10
votes
4answers
1k views

What considerations are there for making investments on behalf of a friend?

I've thought of two approaches so far: Pool their money into my own brokerage account and simply split the gains/losses proportional to the amount of money that we've each contributed to the account. ...
3
votes
5answers
277 views

Can I cosign a car loan up to a limited amount?

Can a person co-sign a car loan up to a specific amount, less than the full value of the loan? Article says that "You’re actually committing to be 100% responsible for that debt". For example, ...
2
votes
2answers
520 views

I'd like to loan my son and daughter-in-law money to pay off credit card and student loan debt

I'd like to loan my son and daughter-in-law money to pay off credit card and student loan debt. Total is 40k. I want to avoid tax problems and they would be responsible to repay or repay upon their ...
5
votes
1answer
257 views

Which jurisdictions levy a tax on depositum irregulare?

Depositum irregulare arises when a person deposits a certain amount of money or goods to be temporarily kept by another person, who is obliged to return the same amount and type of money or goods, but ...
3
votes
1answer
299 views

Personal loan to a friend procedure

I see a few questions on this topic, but I am more concerned with the procedure and best practices. If I give this person the money first (~$10,000), can I still have them sign a promissory note/loan ...