Introduction

In a startling revelation shared on Reddit's r/askSingapore, a man expressed his growing anxiety after his cousin, who borrowed a substantial S$8,000, suddenly stopped communicating with him. This financial saga highlights the sometimes treacherous waters of lending money within families.

The Loan Request

The man detailed that his cousin sought the loan in the second quarter of the previous year, claiming it was necessary for a "court case." Believing in family trust, he sent the money promptly, only to be met with a series of disappointing excuses as his cousin eventually ghosted him.

Unveiling a Larger Issue

Upon seeking help from his uncle and aunt in hopes of resolving the situation, the man uncovered an even larger issue: his cousin had previously borrowed a staggering S$60,000 from his parents. Moreover, it was discovered that he had also taken S$800 from the man's younger brother, who is still a student at a polytechnic institution.

Reflections on Trust and Naivety

In his post, the man painted a somber picture of his cousin, describing him as in his 30s and capable of working but choosing not to, instead focused on quick money-making schemes. To add salt to the wound, his cousin's parents offered to repay only a fraction of the debt, just S$200 per month starting next year.

The Emotional Toll

Reflecting on his turmoil, the borrower lamented that he had only recently joined the workforce and had been working hard to save for significant life events, such as his wedding and future home. "How could I have been so naïve to lend such a significant portion of my savings?" he questioned in despair.

Community Support and Advice

The man's post resonated with many Reddit users, who sympathized and shared similar experiences of being scammed by family members. One user recounted their own painful story of loaning money to a relative and eventually finding peace by letting go of the lost funds while learning to forgive, albeit from a distance.

Lessons Learned

Advice poured in, with several users cautioning the man about the perils of lending money to relatives. One user wisely noted, "Lend only what you're prepared to lose. If they ask for more, it's a red flag." Others suggested that given the financial strain on the man's uncle and aunt, pressuring them for repayment might not be the best move.

A Broader Perspective

Amidst this financial drama, another story emerged on social media, where a man revealed that his girlfriend's sister constantly approached him for loans as she perceived him to be in a better financial situation. Despite her consistent repayment, he felt uncomfortable and stressed by the relentless borrowing, emphasizing that he owed her no obligation to lend again.

Conclusion

This unfolding family drama serves as a stark reminder of the complexities of lending money to relatives: trust, responsibility, and the potential for emotional fallout. As family bonds are tested by financial strain, one can't help but wonder: how far would you go to support a loved one, and at what cost?