Awkward Decison to Make

SailorSam

I've always helped others out. particularly family. But now i've come unstuck and feel i've been conned and for a lot more than £1500 so i'd be very reluctant even though i wouldn't like to see them struggling. But if you've not heard from this guy in all these years, i don't think i'd hesitate saying No.
If you've got it to lose and it would make you feel better, then yes as a loan but don't sign something that you later regret.

tesuhoha

He didn't ask for it but I've just offered him an interest free loan of £1000 over 13 months, £40 being the last payment. £1,000 won't break my heart but I just have a gut feeling that he will pay me back. I'll update you and let you know.

Sometimes you just have to trust people. Its not like he's not working or anything.

gettingtheresometime

tesuhoha wrote: »

He hasn't actually asked me for a loan, just to guarantee one.

I might direct him here anyway.

hunny

we're arguing semantics.

yes he's only asked you to guarantee it but anyone care to offer odds that the next thing the OP knows is that there's a letter saying cough up?

tesuhoha

gettingtheresometime wrote: »

hunny

we're arguing semantics.

yes he's only asked you to guarantee it but anyone care to offer odds that the next thing the OP knows is that there's a letter saying cough up?

That's why I've offered him an interest free loan of £1,000 over 12 months. Based on his income and outgoings this is an affordable payment of £80 for him. I have no reason to think that he will not pay me back. I was never going to guarantee a loan from a payday company.

People have helped me out in the past.

tesuhoha

DaveTheMus wrote: »

Never lend money that you can't afford to lose...

If you're willing to lose the money then lend it, if not, dont't.

Sounds like a con if you ask me; he'll pay the first loan back, then ask for a bit more, he'll then pay that back then the payoff - he'll ask for something crazy like 20 grand.

I won't be lending him anymore. If he asks again after paying it off then the answer will definitely be no.. I might be stupid but I'm not THAT stupid.

tesuhoha

SailorSam wrote: »

I've always helped others out. particularly family. But now i've come unstuck and feel i've been conned and for a lot more than £1500 so i'd be very reluctant even though i wouldn't like to see them struggling. But if you've not heard from this guy in all these years, i don't think i'd hesitate saying No.
If you've got it to lose and it would make you feel better, then yes as a loan but don't sign something that you later regret.

Sorry to hear that. Its not good to have your trust abused. I'm too mean to lend anymore so I'm not worried. I've lent my daughter money a few times and she has always paid me back every penny so I suppose I expect to be repaid.

ERICS_MUM

tesuhoha wrote: »

He didn't ask for it but I've just offered him an interest free loan of £1000 over 13 months, £40 being the last payment. £1,000 won't break my heart but I just have a gut feeling that he will pay me back. I'll update you and let you know.

Sometimes you just have to trust people. Its not like he's not working or anything.

I would have done the same.

tesuhoha

ERICS_MUM wrote: »

I would have done the same.

Thank you.

Ronaldo_Mconaldo

He only earns £370 a week, eh? Wind up.

FBaby

His reasons for the loan, what it is for and the issue with his accommodation would lead to think that there is a high chance that he is not good with money and budgetting and that he propably got into debts or he wants the money for something that you really wouldn't approve. He never got in touch with you before, but suddenly remember that you are a family member for a loan he can't even tell you what it is for.

It is easy to get caught by family members appearing in real hardship, but it is also very common to then see threads about family members who don't repay loans and the treat the lenders very poorly.

I certainly wouldn't lend your nephew the money under the circumstances, but if you do, I certainly wouldn't expect the money back, see it more as a bonus if indeed he does repay regularly and in full.