Poll of the Day > Should I loan my brother $700?

(+) Yeah! (+)

Brother's truck is going to get repo'd. He needs $700 to bail him out.

Thing is, I already loaned him $850 back in December which he has yet to repay.

He's a combat veteran with severe insomnia due to his PTSD, and finds it difficult to hold a job because he has days where he just crashes and sleeps when the exhaustion catches up to him. Been living off of his VA disability since he left the Marines, pretty much. He had bought the truck when he was still serving and had better income.

He wants to sell the truck because he can't afford it. Says he should be able to repay me if he gets enough for his truck (it's worth more than he owes).

tl;dr - brother already owes me $850 and needs another $700 to keep from getting his truck repo'd. He plans to sell the truck to repay me.

On the one hand, I don't want to loan him any more money until he pays back the first loan. On the other hand, my best chance of getting repaid is after he sells his truck, which he can't sell if it gets repo'd.
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If you're already $850 in the hole and the guy can't hold down a job, you're probably never going to see that money again (because I wouldn't count on him to sell that truck). However, if you feel bad for your brother and can afford it, you might consider taking the risk with the possibility that you might need to turn the debt into a gift if he still doesn't repay you afterward.
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Theres always Judge Judy
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If he's that bad his rating should be high enough that he shouldn't even need to work if he's frugal. I dont know if you should loan him the money or not but you definitely need to tell him to take his ass down to the local VFW and get a rep to help hi with his disability rating.
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Far-Queue posted...

Thing is, I already loaned him $850 back in December which he has yet to repay.

https://imgur.com/wNh73
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Zangulus posted...

Never loan money youre not willing to lose.

Yeah, I told him not to worry about paying me back until he gets his shit together. I can afford to lose it, but I'd really rather he pay it back at some point.

Zeus posted...

If you're already $850 in the hole and the guy can't hold down a job, you're probably never going to see that money again (because I wouldn't count on him to sell that truck). However, if you feel bad for your brother and can afford it, you might consider taking the risk with the possibility that you might need to turn the debt into a gift if he still doesn't repay you afterward.

Fairly certain he's selling the truck, as his father has a car he can have in it's place. The question is how much can he get for his truck. If I loan him the $700, he'll be into me for $1550 and he has other shit other than the truck loan to take care of on top of paying me back (partly why I told him to focus on squaring himself away before repaying me).

Cacciato posted...

If he's that bad his rating should be high enough that he shouldn't even need to work if he's frugal. I dont know if you should loan him the money or not but you definitely need to tell him to take his ass down to the local VFW and get a rep to help hi with his disability rating.

Not sure what his rating is, but we've had a conversation along these lines and he said he's going to try to get 100%. He's also trying to get caretaker pay. They gave him caretaker pay when he got out and he had a guy helping him out with cleaning the house and running errands, but something happened after Trump took office (not saying it was something Trump did, not sure what) and they took the caretaker pay away. If he can get that back he'll be in good shape because the caretaker costs less than what they gave him.
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id do it if you got the money to spare because its family but i probably wouldnt loan him more after that until he repays some

That's how I feel. My wife wants me to say no lol
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Zangulus posted...

Never loan money youre not willing to lose.

This 100%, especially to friends and family.

If you don't mind never seeing that money again and don't think it will hurt your relationship with your brother, go nuts. Otherwise, say no.
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I'm personally more open to lending money to family so if you've got the funds then for it.

Maybe like give him conditions for loaning the money? Like if he'll try to improve his sleep schedule or look for part time work or something, idk

Is your brother currently working? If yes, how much is his income (just estimate)?
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Buy the truck? His money than
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