 Being proactive with your friends in need can help you catch them before the late fees or the high interest rates do. It can also help both parties set up a strategy for the long term because if we're being real here, if someone is in this position, it is unlikely that one $500 check is going to fix everything. Michelle had a family friend lose her job during the Great Recession and was having a hard time finding another one. So Michelle and her husband decided to pay that friend's car payment for a year.