▶ Your Answer :
It has been argued among many people whether borrowing or lending money from friend can break the good friendship. It is true that borrowing or lending money from friend is much easier and faster than from financial institution such as banks. However, I believe that money transaction between friends has various harms for the good relationship.
First, it is possible to being not able to repay the friend's money. If the money can not be paid back, all of damages from it should be suffered by friend who borrowed the money. For example, there was the case of a murder in Korea which is caused by money transaction between friends. As the debtor disappeared without repayment, the creditor was so annoyed and finally he found out his friend and killed him. Before this tragic affair, these two friends were so close, and kept good relationship for more than thirty years.
Second, the problem of interest is so ambiguous. When we borrow the money from the bank, we can get repayment not only the principal but also the interest for that principal. However, when we borrow the money from our friend, it is not likely to get the proper interest. I had a related experience about one year ago. I lent a small sum of money to my friend and several months later, he repaid the money without the interest. At that time, I was a little bit unpleasant because if I had deposited the money into the bank, I could get some profit by the interest.
In summary, I agree with the suggestion of that borrowing money from friend can harm the friendship on account of the reasons that I mentioned above : not only the possibility of unpayment exists, but also whether the interest should be paid or not is very unclear. |