<p>Milk and sugar, thank you for saying what I was thinking, including the “good grief.” Snowball, I’m glad you and your husband worked it out to help this woman. I suppose it was as hard for her to ask as it was for you to be asked. I loved the idea to structure this as a relocation expense package so that it could be deducted on taxes.</p>
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<p>Probably a good indication of how desperate she is…</p>
<p>Bless you and your husband for your compassion and I hope all works out.</p>
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<p>Isn’t that what banks are for?</p>
<p>Banks aren’t in the business of lending small amounts of money like that. But if she had a line of credit she could have drawn down on, that would have helped this situation. Of course, divorce could put getting a loan in limbo.</p>
<p>I got the impression that she has no credit in her own name; everything was in her husband’s name. No bank is going to loan her money with no credit, not would they loan such a small amount. Going through a divorce is draining on everyone, especially the woman with no credit.</p>
<p>This is a reminder to all women to make sure they have a couple of credit cards or loans, apartment rentals, or mortgage in good standing in their own name. My kids started with checking accounts at 16 and then credit cards at 18. Of course, they each have a college loan also. I have drilled into their heads that EVERYTHING needs to be paid in full each month. There was a couple of times we had to advance them a bit of money to make a payment on time when they were in school and didn’t have online access to their saving accounts; haven’t had to do that in years. Each now have excellent credit and I feel they will keep it that way.</p>
<p>If you are an authorized user of a credit card (even not the account holder), you get a credit record established.</p>
<p>More than likely, she has bad credit because of her or her husband’s actions and doesn’t qualify for a loan. I don’t lend my own money to people who still owe money to others, since the other people have first rights claim to any money they may earn.</p>
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<p>Sure they are. Wells Fargo will do payday advances. You can get a line of credit for small amounts. You can get small loans from banks and credit unions.</p>
<p>They are not in the business of lending money when you need a loan.</p>
<p>The interest rates on those tiny loans are huge and especially if she has no/or bad credit they are very high.</p>
<p>I use to get those checks in the mail from Wells Fargo, all you had to do was sign the back of the check and that initiated the loan, but the rates were very high.</p>
<p>Sidebar:</p>
<p>On the credit for women issue, check with your parents and make sure your mother is getting credit. I had a credit report pulled for my mother and she had no rating as ALL credit and ALL records were in Dad’s name, she could not even qualify to turn on the cable TV! And my Dad had been terminal at that point for several years. I quickly got her on the credit cards as a co-borrower, so when he died she did not lose all her accounts, but it would have been horrid had we not discovered she had ZERO credit history</p>
<p>Since your H has decided to loan her the $$, snowball, please make sure that you get a note for the loan or if there is ever a problem collecting it, it will become a “gift” from a friend, moving expense money, or some other non payable.</p>
<p>I understand about people who would do almost anything for another, my Dad was like that, and my own DH is pretty great too. However, I feel like I am here to make sure DH is not so nice that he is taken advantage of, or that he suffers trying to do a “favor” for someone else. I really feel strongly that a “favor” should not put the one supplying it out in a major way. I personally used to do many favors, and have gotten much more stingy over the years.</p>
<p>I would never lend money to an employee, and we also own our own small business. I find it hard to believe that the person you describe has no parent, sibling, or other closer person who could help her out besides your husband. It is also only in the rarest of circumstances that I have rehired someone who left our employment even under very acceptable circumstances. A lot of times, when someone is rehired there are problems reintegrating them into the organization (especially a small one.) And as long as I am going, and here is where I always make a lot of friends (NOT), if she worked for 10 years why does she have no IRA/pension acct etc. that she could “borrow” from herself? Ok arrows, let fly?</p>
<p>just a observation… it seems those of us with small businesses are more reluctant than those who havent identified themselves as small business owners… a small business is different from a big company… if you loan to one you can expect it to be known by the other small group of employees even if you say dont tell…, do it once, you may be asked again. i would think, like anothermom2, isnt there family than can help? if there are repayment issues it will effect how you view the employee. i am also like anothermom, once an employee leaves, never rehired.<br>
but all hypothetical now as you have decided to loan the money… very nice of your husband and you!</p>
<p>^^ Observation is correct with me. I am sm biz owner. I might consider the loan too, but I’d be darn sure to spell out all terms in advance. While some here see the upheavel on potential borrowers’ life a sound reason for needing a loan, I see it as opening possibilities I wouldn’t be repaid. In addition to the precedent set, even if employee came to work for me, and I was withholding a portion of the salary, I’d still be concerned that new employee might not work for me long enough to pay all money back.
Of course the idea of why the future employer should be the lender is legit. Why not this individuals parent, sibling, child, church, or other source? Why will no one else trust this woman to loan money to her?</p>
<p>It is nice of a person(not in the biz of lending) to loan a fairly risky person money, if they get repaid.
If they aren’t repaid then other less flattering descriptions of the lender come to mind.
My hope is of course that it all works out properly.</p>
<p>I personally know this woman and some of her family, borrowing from them is not an option; most live paycheck to paycheck. I truly believe she thinks of my husband as a friend, not just a boss. She is returning here to work for him as he asked her to come back. The reasons she left her job with my husband were not of her doing; the other partner wanted her gone and now he is gone!! She left town for greener pastures that were not so green, so coming back is a win win for both my husband and her.</p>
<p>My husband was going to send me her email to him, but we both keep forgetting; I will remind him today to send it to me. Seems there is a good bit in the email that might shed more light. While we have agreed to loan the money, the woman does not know this yet; nothing written in stone.</p>
<p>This will sound like my husband and I don’t communicate, but truly we do! He just forwarded the email to me that his employee sent him; I now have a better understanding of why she came to him. It seems she needs the $1500 for her attorney as she is getting a protective order against her husband and is not willing to come back until that is taken care of. In her email she made the offer to have $200 taken out of her paycheck each pay period. She said she hates to ask her family as they have been through enough with her husband. I feel she really had no where else to turn, and hated to ask my husband. After reading the email, I think she has every intention of paying the money back given any unforeseen problems.</p>
<p>Gosh, I’ve been laid off and rehired twice - the first time I was hired back part-time, the second time with exactly the same deal I’d had before. I never had any problem reintegrating that I know of. </p>
<p>I think structuring the loan so that payments come out of the paycheck. I’m a small business owner, but I have no employees.</p>
<p>She probably used her line of credit before she resorted to asking the OP’s husband for a loan.</p>
<p>I hope it works out. I have worse luck with family members.</p>
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<p>Is this of concern to you? Was the ex-husband violent towards her, and will hiring her put your husband and other employees at risk?</p>
<p>Many years ago I borrowed money from my employer (which had 10,000 employees at the time) so I could get a divorce. There was a standard procedure in place for personal loans and a standard repayment time. </p>
<p>Since then, I have become one owner of three in what is now a medium-sized business. We have made a few loans to employees for various reasons and would do it again. We do require that the repayment come directly out of the paycheck.</p>