family loan

bowlhead99

Gaz83 wrote: »

Utter, utter rubbish.

Thanks for your support! :rotfl:

bargainbetty

The moral obligation to repay the person was on the OP's father, not on the OP. He was a child when the money was borrowed, and although very little has been said about what the money was spent on, it is hard to claim that a child who may have benefited from the financial decision of a parent is responsible for the repayment of a loan (without any documentary evidence it also seems) from decades ago.

I don't knock on the doors of my late father's friends asking them to cough up the money he lent them before he died. I wouldn't dream of telling my friend's teenage daughter that her mum owes me money since before she became disabled, and since she is starting part-time work she needs to pay me back instead.

The loan is legally unproven. You have no records of what was lent, how much was paid, and charging interest is prohibited unless the mate has a lenders licence. Next time it gets raised, politely point out to him that the estate and its debts were settled after your dad died. You don't have any liability to pay something that someone else borrowed when you were a kid, and you're getting fairly uncomfortable that he won't let it go after 30 years. If the friend decides to walk away, then its sad, but you are not morally or legally liable for the debts of another person.