Ok, so my buddy ''Rob'' gets 1000 every month from social security because his pops passed, and my buddy ''Rob'' asked if he could borrow some money (he spent most of it on weed and food), also he blazed me out numerous occasions so this is why im sticking up for him, hes a good freind. My other homie ''jeff'' who lent him the money is charging him 100% interest, so lets say if my freind ''Rob'' borrowed 200, hes charging him 400 to pay him back, is this bull shit or what? plus jeff is getting a job in a few weeks and he gets money all the time from his dad, jeff's excuse for charging such high interest is because he's spending it on stupid things like ''weed'', and food
Your friend is being greedy. You should never borrow money unless you know for sure you can pay them back quick.
still, do you guys think its right for a best bro to take advantage of some one and basically rob them of money because they borrowed some cash?
[quote name='"citydwella"']still, do you guys think its right for a best bro to take advantage of some one and basically rob them of money because they borrowed some cash?[/quote] Do you guys know he will pay him back for sure? Within the time agreed? If you guys are good friends like you say then I don't see why you wouldnt just help him out. Knowing he will pay you back within the time agreed I don't see no reason to charge interest. Maybe just smoke me out a couple times with the weed!
Yes he will pay him back on a planned date, and i'm not charging him interest my other friend is, i just think its wrong to charge a friend a 100% interest because he needed some money.
'Jeff' is ripping off 'rob' big time. 'Rob' should have just tried one if those quick loan places probably would have got a better interest rate. Although, I don't know if taking one of those loans effects your credit rating.
Whatever...is all comes around. Next time Jeff is looking for a smoke out, Rob might charge a little something.
Jeff probably didn't want to loan Rob the money in the first place... hence the 100% interest rate. If Rob agreed to it then he is obligated to pay back with full interest. Sounds like Rob's dumbass fault to me.
I'd say I'm on the fence about whether or not the one guy is ripping off the other because I really don't know either of them personally and your friend might have a totally legitimate reason to charge your friend that much interest on a loan. I've had friends that were always asking for money from me, and when I wouldn't make a big deal out of it then they would tend to be less than speedy in getting me back my money. Maybe your friend just really doesn't want to lend your other friend some money because of some reason like he has asked for money before and he knows that it will be spent on weed. So he charges him a crazy amount of interest so that he can still help him out but make it less appealing to the borrower.