How to refuse request from your friend for money loan?

    

Friends can also request his/her friend for money loan. In some cases, a person may or may not be able to approve the request.

If one of your friend request a loan from you and you do not have money then you can say NO to his request or " I wish I could help, but I simply don't have it".

If you have money but don't want to loan it for your friend. Then through letter make your friend understandable that why you do not want to loan money for him/her by giving him/her the purpose for which you have saved the money "understand ...I've been in the same position myself".





Sometimes one friend can also ask you for money loan just to see your friendship. In these cases firstly you should find out that for what reason he want money? If he want to buy some unimportant gadgets with it then you can refuse to it's requests but if he/she have family crisis the you could approve the request.

I think that before saying yes to your friend for loan you should make sure yourself that you are making right decision or not. The better option is to ask your friend that you will make decision within 1 or 2 days and think properly about your decision. Do not make false promise to your friend that you will give him/her money if you are not having money in reality.

Reference source: 

http://www.selfgrowth.com/articles/how_to_refuse_a_loan_request_from_a_friend

I would like to ask readers of this post one question :

• Is it necessary to get legal written draft agreement from your friend which will be the proof that you had given him/her money ?