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Family Loans: Benefits And Pitfalls Of Borrowing From—Or Lending To—Family

Family Loans: Benefits And Pitfalls Of Borrowing From—Or Lending To—Family

Why is a Family Loan Dangerous?

There are numerous reasons household loans may be high-risk. “Family loans tend to be more or less the resort that is last folks who are in serious need of funds,” says Justin Nabity, a economic specialist and creator and CEO of Physician’s Thrive, a economic preparation company located in Omaha, Nebraska.