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Friday, August 8, 2014

Borrowing Money from Family Will Bring Trouble If Don't Pay Back

They say they will, pay the money back they owe.  While others warned, "Don't give XYZ any money..." a relative will anyway.  However, when one chooses to let relatives borrow hard-earned money, don't assume that one's word to pay back is true.

Relatives, who plan to bring drama when money isn't paid back, typically go from sweet and kind-hearted to miserable.  They will go after wife, kids, and even friends in the hope that a once beloved relative will honor his or her words.  It might take a long time before money is paid back, but when it is finally paid, there is typically a trail of trouble that one has had to endure due to a relative not honoring his or her promise during a set time.  Some things that might occur:

1.  Public disputes that might lead to the police being called.
2.  Items stolen in an effort to get owed money back.
3.  Lying or covering up by borrower, spouse and/or children.
4.  Divorce.
5.  Court issues.
6.  Ignored phone calls and family gatherings.
7.  Strange incidents that are done out of spite (i.e. damaged items, bad-mouthing...)

Those that beg, borrow, and steal money unfortunately do these things without a conscience.  They usually don't tell others what they have done.  These people know they have financial challenges, but believe that one day things will get better, but in many cases they never do, the mindset refuses to change.  As long as relatives come to the rescue, the one with the financial issue will always feel like he or she can ask.

If you know you are the type that flips out when it comes to borrowing money, don't offer it to someone who is broke (one who has no forseeable way to get finances in the immediate future).   

Nicholl McGuire

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