Relationship Being A Financial Lifeline To A Sufferer

[Pebbles]

I need some advice on being a financial lifeline for a sufferer. My boyfriend is very good at starting things financially, but once he gets overwhelmed, he crashes. We have just been through the first "cocoon stage", as he calls it. It did not last long and I'm still not sure if it is over.

I loaned him money a few months ago and he did pay it back, but knew he had money coming in to cover the loan. I have just loaned him money again and I'm sure he will pay it back. Both of these loans have been for a small amount.

He is now wanting me to get a truck loan and I know he will make the payments, but I am worried about getting in too deep with him financially. I also do not want to be taken advantage of. Has anyone been through this?

 

[Nicolette]

Always remember - "never loan anything you were happy not to get back/have returned". In other words there is always a chance that if you 'loan' something you may never get it back so the question is are you prepared to part with what you are loaning permanently?

 

[Izzy]

Becoming financially entangled with ANYONE is scary. If you are to help him get a truck by being a co-signer, and he puts the truck in his name, you have no claim to that truck. If he stops making payments and messes up your credit, there is nothing you can do about it. Now having said that, what are his reasons for wanting this truck? Work? School? Will helping him get this truck aid in recovery and stability? If you can see enough positive factors to him having this truck, then my advice to you is to keep it in your name until he pays you back. Protect yourself.

 

[Red Feather]

"never loan anything you were happy not to get back/have returned"

Very wise. :tup: