Best way to loan someone money...

H0ax!

H0ax!

H0ax!

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Essex
A close friend of mine has asked if she can borrow some money (<£1000) for two weeks until a bursary comes through/the sale of her car. I'm happy to help her out, but unsure on how to safeguard my money? She suggested a back dated cheque...

Would this work?!

Thanks.
 
Don't do it imo. The amount i've lost due to lending to people i trusted 100% at the time is stupid. There isn't any way you can safeguard it really, it's based on trust nothing more.

EDIT: And the backdated cheque will only work if she has the funds avaliable when you cash it. If something unexpected happens then you're stuffed.
 
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Could try trusting her, and if she doesn't cough up, then, well, you know who your friends are when it comes to money. That figure of speech could always work against you though. If you don't lend her the money, she will think "you know who your friends are when it comes to money"

The easiest option is to just say "i don't have that kind of money to lend you" Solves all problems.
 
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It's for her postgrad. She has borrowed smaller amounts in the past... But she was my girlfriend at the time^
 
If you can afford to lose that much do it and take a chance, otherwise dont expect to see the money you need again.
 
H0ax! said:
It's for her postgrad. She has borrowed smaller amounts in the past... But she was my girlfriend at the time^
Click to expand...

Go tell her to speak to the universities finance department, every university will have facilities to give emergency loan. I got £100 to go on the **** once, my pal £200 to pay some bills, whilst she might not get the entire grand she'll get a fair whack.
 
If you can afford to help her you should, I have helped lots of my friends and most of the time I have got the money back.

Edit: i missed the Ex bit, that I would not do.
 
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