Someone takes a loan for another person. Can you do that?

[King Belieal]

A friend of mine has a neighbor whose financial condition is in tatters. Can't even afford anything to eat. This my friend moved with pity desires to help his neighbour but doesn't have spare funds to help. He has taken a loan of $100 to help his neighbour set up a fruits business. Can you take a loan for someone just to help the person?

 

[Augusta]

Yes, if the person is a trusted and reliable that I know would pay back why not I will get the loan on the person behalf

 

[Min George]

I can't take a loan for someone else to payback. The person can easily default and put me in debts.

 

[Springtime]

I dislike borrowing money. If my friend is in financial trouble, I'll help him/her out using my spare money.

 

[eLdavis]

I can't even take a loan for myself, not to mention someone else, that's something i won't ever try at all.

 

[Suba]

Even though we have to help others in need, why do we only have to borrow $100? It might just be an excuse or trick so that the borrower will return it if his finances are stable or make a profit, so he can pay off the debt in installments without interest and actually this is not a loan but help or donation.

 

[Starmix]

If the person is qualified to manage that fruit stand, then that person can offer his financial help, but not apply for a loan that bears insignificant interest. It is best to think severally before finalizing the decision to help financially.

 

[freelancermaria]

It really depends on the situation and the person involved. However, I normally prefer not to take out a loan for someone else. Instead, I would likely lend them some spare money I have or simply just give them some money.

 

[Springtime]

I would hesitate to take out a loan to help someone because I have to pay interest and I cannot know for sure if the person can repay me the loan plus the interest on time. That said, if I have spare money, I will certainly try my best to help.

 

[Augusta]

This is a risky one but I can do it for my family especially for those that I can trust.

 

[freelancermaria]

Yes, it is risky to lend money, especially to someone you've only recently met. Even if it’s for someone you know well, there’s always a chance that they may not be able to repay you or cover the loan you took out on their behalf.

 

[Min George]

Even for a family member that is very close, I won't take a loan for him or her. Money changes people drastically.

 

[Augusta]

You can borrow money for someone else but know or be sure you understand that you will be personally liable for it