Reply #18: "Neither a lender nor a borrower be, (been there-done that) [View All]

[trof]

For a loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry."
-Shakespeare

Having quoted that, I had a similar situation.
A remodeling contractor, jack-of-all-trades, had done some work for me and we became friends.
After quiting time from another job he stopped by for a drink one evening.

Half-way into our second Scotch he told me he had a problem and needed a 'BIG' favor.
Needed to make his payroll at the end of the week and he wasn't getting paid for the current job until the middle of next week.
Andy is a great workman, but a shitty businessman.

He needed $5000 until the next Wednesday.
I had just barely that much in a savings account that we wouldn't need to tap for a while.
He knows we're retired and not at all wealthy.
I called Miz t. in and told him what Andy needed.
And bless her heart, she said "Andy we can do this. And I trust you. But you know we have to have this money back as soon as possible."
"Yes maam, I know."

We did it and I sweated bullets until he paid it back that next Wednesday. In cash.
whew

I wasn't only worried about the money.
I was worried about our relationship with Andy if he hadn't kept his end of the bargain.
I don't know if I'd do it again, and he hasn't asked since.

Tough call, bud.