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I have a friend who for 10 years has provided me with limitless emotional support. He has always been in financial trouble and is married. I have paid him for his help around my house and lent him money. Out of $3,500, I have gotten back $1,500. He is in financial trouble again. Should I lend him more money?

Last Updated: May 11, 2010

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There are a number of social, emotional, and/or psychological issues that appear to be part of your question. For this, you may want to consider reaching out to a mental health counselor, psychologist, or other appropriate source of support in your community. As for the financial question about whether or not to lend your friend more money, eXtension has long cautioned about lending money or cosigning loans for others. It is very risky and can endanger both your finances (if debts are not repaid) and your personal relationship with the borrower. This advice especially applies in your case since you are already owed $2,000 on past loans.

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