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Loan to a friend

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Comments

  • ailuro2
    ailuro2 Posts: 7,540 Forumite
    Part of the Furniture Combo Breaker
    If he was a mate at all he would have paid you back first- get firm with him- lgive him until,say,the end of October, warning if you don't have ALL of the money that you'll be forced to take action.

    Do you have proof of the amount you loaned him?
    Member of the first Mortgage Free in 3 challenge, no.19
    Balance 19th April '07 = minus £27,640
    Balance 1st November '09 = mortgage paid off with £1903 left over. Title deeds are now ours.
  • ttoli
    ttoli Posts: 825 Forumite
    Part of the Furniture 500 Posts
    Thanks all for your advice,part of the problem is that i now live in Cyprus. he is still in the UK, i have however told him to pay me back in person when i visit the UK in Jan.

    Thanks
  • shellyjane wrote:
    I have to disagree with a lot of the posts here.

    My best friend (who I have known since uni) and I always lent each other money in the past and always paid each other back. However it did not damage our relationship and if anything made it stronger as we always knew we had each other in time of need. I think true mates know when not to take the p*ss!

    Maybe I was just lucky and had a great mate!

    Trust me you were lucky, :)
  • ttoli
    ttoli Posts: 825 Forumite
    Part of the Furniture 500 Posts
    Just to update. i have now been repayed in full with an offer to pay any lost interest
  • victory
    victory Posts: 16,188 Forumite
    oh dear money and friendship never mix!! Glad to hear you have been paid in full, lucky escape, learn from this and do not do it again ,ha, ha !!! xxx
    misspiggy wrote: »
    I'm sure you're an angel in disguise Victory :)
  • djdido2
    djdido2 Posts: 3,446 Forumite
    oh thats good news isn't it! ttoli could you do me a borrow seeing as though you are quids in LOL!
    I'm not a "SINGLE" mum, I'm a "DOUBLE" mum!:D
  • ailuro2
    ailuro2 Posts: 7,540 Forumite
    Part of the Furniture Combo Breaker
    good to hear it-keep your arms short and your pockets long when he's around;)
    Member of the first Mortgage Free in 3 challenge, no.19
    Balance 19th April '07 = minus £27,640
    Balance 1st November '09 = mortgage paid off with £1903 left over. Title deeds are now ours.
  • I prefer not to lend money, on occasions when I have helped people out, I have given it to them.

    The only person I have lent money to is my son, (small amounts) who does pay it back.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • roswell
    roswell Posts: 2,447 Forumite
    A good rule is if the banks wont lend to them .... Dont lend to them.

    option 2 ) is if somoen wants a small borrow state a date that you want it back buy or ask when there pay day is.

    option 3 ) if you loose a freind over £20 it was £20 well spent.
    If it doesnt pay rent sell it.
    Mortgage - £2,000
    Updated - November 2012
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