Helping Loan For An Adult Child

1271 Words Dec 18th, 2016 6 Pages
Loaning money to anyone can be a very difficult situation. Not only do you need to have the money to loan, but you also need to think about what would happen if the person doesn 't give it back to you. A situation that may seem slightly more difficult than most is making the decision to loan money to an adult child. Is it something that you should do, or will you want to avoid it? Here are some things to consider before deciding to loan money to an adult child. Financial Situation There 's a good chance that you have a good idea of what your child 's financial situation is like. Do they normally handle their money issues very well? If so, the fact that they need to borrow money at the moment may not seem like such a big deal. If your adult child struggles to pay their bills each and every month, there 's a good chance that you may not get back the money that they owe you in the future. Addiction Problems Another one of the things that you will want to take into consideration is whether or not your adult child has any addiction problems. A person with one of these problems is likely to use any money that is loaned to them to feed their addiction. Of course, keep in mind that they will be likely to deny this if you should confront them about it. To avoid any arguments from occurring, just keep this reason to yourself. Loan History When trying to determine whether or not to loan money to your adult child, it 's a good idea to keep their history of loans in mind. If you…
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