When Asked For A Loan
It is a tough situation when a family member or close friend asks you for a loan. You may want to help but it could place unnecessary pressure on your finances.
What can you do?
It is not easy for a friend or family member to come to you and ask for a loan so, be kind and friendly. It is always polite to listen to the reasons why they need help.
Since you may not have the funds available or it could place you under too much financial strain it may be wise to rather offer to assist them to approach an NCR registered credit provider. These firms specialise in lending money and have the funds available.
It may be a bit difficult and somewhat awkward to be unable to assist but this could be the best solution for all parties since these professional firms have all the legal documents available for such arrangments and will be able to tell your friend or family member what they can realistically afford to repay. They will also be able to take payment over a longer time period than may be practical for you.