5 more essential rules why you never loan money to friends and family

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Amidst the escalating financial strain on Americans due to soaring prices and pervasive Bidenflation, consumer debt is scaling unprecedented heights. Recent statistics reveal a staggering surge in credit card debt, surpassing the formidable threshold of $1.1 trillion.  

Concurrently, auto loan delinquencies have surged to a 13-year pinnacle, while the perpetual specter of student loan debt looms large, hovering around $1.7 trillion despite the government’s best efforts to wipe away some of the debt. 

These figures scarcely scratch the concealed burdens of buy-now-pay-later arrangements, payday loans and indebtedness owed through the informal platform of the bank of friends and family. As debt continues to pile up on Americans, the likelihood of family and friends seeking short or long-term financial assistance is

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