PT 2: Should He Loan Money To His Friend With A Gambling Addiction?
The Bert Show
The Bert Show
4.1 • 4.4K Ratings
🗓️ 24 January 2023
⏱️ 6 minutes
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| 0:00.0 | Did he help his friend or not? We all weighed in on it yesterday. We're actually know this |
| 0:07.4 | was last week because we for somehow couldn't get a hold of him yesterday. So he ended up |
| 0:10.8 | writing us an email and let us know what he did. But Cassie bring us up to speed. |
| 0:14.8 | Our virtual listener Luke had a friend he's known since he was a kid and that he needed |
| 0:19.2 | a financial some financial help. His friend, his wife and their two kids, one of whom's |
| 0:23.5 | a one month old baby will lose their house to foreclosure if they don't get this help. |
| 0:28.4 | He lost her job. He doesn't get paid as much as he used to inflation. It's created this |
| 0:32.8 | awful scenario for them. So he asked our listener Luke for $25,000 to stop the foreclosure. |
| 0:39.2 | Luke's wife isn't super down with the idea but is willing to go with it if that's what Luke |
| 0:42.9 | wants to do. But she did point out that Luke's friend who's asking for the loan had a problem |
| 0:47.7 | with gambling and lost a lot of money a few years back. As far as Luke knows, he doesn't |
| 0:52.7 | do that anymore. But this is a lot of money and Luke would definitely need it paid back. |
| 0:57.0 | So we can't afford to just give it away. We advise Luke make an actual repayment contract |
| 1:02.3 | that would be signed by both parties. And we even recommended Luke loaning the money |
| 1:05.8 | to his friend's wife so that she has the money. And case Luke still has that gambling |
| 1:10.2 | problem. Another virtual listener called it and suggested taking it even further that |
| 1:14.0 | Luke paid the money straight to the bank rather than his friend that way the house is saved |
| 1:17.7 | and the money is not at gambling risk. And that's where we left it. |
| 1:20.7 | All right. So Moe, you have the update. |
| 1:22.4 | After much thought and discussion with my wife, we have decided to loan him the money. |
| 1:26.7 | We know it's a huge amount, but we couldn't just stand by and watch him lose his own, especially |
| 1:30.8 | with a newborn baby and the family. We also have known him for a long time and he has |
... |
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