What would you do?

ankspon

I know someone who has worked all there life,sometimes upto 90 hours per week to keep the family home running and together,often not seeing there family for weeks on end.He is now 63 years old and has lost his job.Now the thing is his son is one of the UK's RICHEST MEN and he turned to him for help,he has never asked him for anything and always worked indepently away from his sons business.He was desperate not to lose his home and it took a lot to go cap in hand and ask for help.His sons reply was i can't help,i don't mix family with business.I can't believe he wouldn't help his own father with a loan and would see him,his wife and two young children on the street.Would you help a family member if they was in a similar situation.?

Emmzi

Me, I'd keep my nose out of other people's families.

Son may only be rich on paper
Dad may have been an !!!! to him all his days
Looks like there's a step mother if there's 2 young kids going on the street, who knows how dad treated mum or what stepmum is like.

All speculation, none of which may be true. No one knows what goes on behind closed doors. That's why it's no ones business but theirs.

Counting_Pennies_2

I agree, it is terribly sad but no one knows the whole facts of the story.

My parents came to me for help, and squandered their money and then that that I gave, I have now come to the conclusion that their situation cannot be solved by me. They got all the money I had and I was so cross.

What has to be remembered is that parents choose to have their children, children do not choose their parents. The children are not tied to their parents, and not responsible for them later in life.

Goodness knows what happens in family life, each family is unique, but the parent has no rights over the income of a child who is older and left home.

It will be a priviledge if my children grow up and stay in touch, and I hope it never comes to the need to ask for help from them.

Debt_Free_Chick

The DFW and Loans boards are full of tales of woe about those who lent to friends and families only to see not a penny repaid and an unenforceable debt. The general rule is not to lend/borrow to/from family and close friends. The son has a point there, I guess.

Also, the son may be cash-poor. May be "rich" on the back of debts .... as Counting Pennies says, we don't know the full story.

SailorSam

My first instinct is yes i'd help. I have done in the past.
But, if the Dad is 63 and he's always worked long hours, he must have earned a good living, how come at his age the house isn't already paid off, how come he may lose it.
I think we need to know a lot more before we can say who is right and wrong.

Rockporkchop

Agree with Emmzi, you never do know what goes on behind closed doors.

To answer your question, no I probably wouldn't financially help out a family member. I have learnt some harsh lessons over the years about lending money to people and also know that if I won the lottery there are very few (if any) people I would even tell, let alone give money to.

Oldernotwiser

Counting_Pennies wrote: »

What has to be remembered is that parents choose to have their children, children do not choose their parents. The children are not tied to their parents, and not responsible for them later in life.

.

What an awful thing to say; family resonsibilities work in both directions.

Errata

If the son is ONE OF THE RICHEST MEN IN THE UK then papa can sell his story to the papers and earn some cash.

Brallaqueen

My family is extremely close, but even I would balk at lending money to one of my sisters. Lovely woman, heart of gold but money runs through her fingers like water.
Sometimes actually giving someone money is not the way to deal with it - there are other ways to help (babysit so they can work overtime, help sort out a budget, give unused tesco vouchers to them for food etc)

Sunshine12

I would give my last penny to my parents if they needed it. Granted, every situation different but I would do anything, without question, to help any of my direct family whether it be financial or otherwise.

bestpud

We don't know the ins and outs of this case, but I would help my parents out if I could, but I'd give it rather than loan it.

I can kind of see how a loan isn't going to work if he is out of work at that age - I mean, it must be pretty dire if he faces losing his house, so how will he ever be in a position to pay it back?