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DP wants to loan money from me

258 replies

Throwaway555 · 21/04/2024 19:47

DP’s business is going through a rough patch, he has outstanding invoices that are due to be paid in 3- 6 months that will get him back on track.

He is running out of money to live and run his business and has asked me to assist him financially until he gets paid and will then reimburse me. Amount as of yet, unknown.

We have been together 3 years, don’t live together and had our ups and downs. He’s struggling with depression due to his situation but also not able or willing to support me in ways I need, like emotionally and physically, because of this.

He has lied to me about his financial position in the past. Exaggerated his income and net worth to impress me at the beginning. Would I be crazy to loan him money?

OP posts:
heldinadream · 21/04/2024 19:52

He lied about his finances to big himself up. What do you think a financial institution would do if he did the same and they knew? Do you think they'd lend him the money?
There's your answer OP.

ZeroFucksGivenToday · 21/04/2024 19:51

You'd be mad to lend him this. He either needs to get better financing elsewhere or accept he may need to look at something else for his business.

do no do this. At all.

Whatsitcalled38 · 21/04/2024 19:51

"No sorry I can't afford to, can't you get a loan?"

In 3-6 months he'll get paid, but he won't be able to afford to give you your money back from it. Businesses fail all the time unfortunately, its unlikely your small amount of money would save his business.

Viewfrommyhouse · 21/04/2024 19:50

Invoices due to be paid in 3-6 months?!?!?! Why is he offering such extended payment terms? Have you seen evidence of these 'invoices'?

Either way, considering he has absolutely no control over his business cash flow and the fact that he's lied to you before, you'd be bonkers to lend him any money.

PickAChew · 21/04/2024 19:50

Only loan it to him if you never want to see it again.

WhatWouldYouDo33 · 21/04/2024 19:49

yes you would unless you are willing to write it off. He can get a bank loan if needed. It’s a bad idea for you to support his business especially when he has been lying about finances in the past.

what is he doing to chase the outstanding invoices?

bows101 · 21/04/2024 19:49

Quite simply: yes, you would.

Cofaki · 21/04/2024 19:48

You won't get it back. So yes you'd be mad to lend it.

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