Loaned a friend money *face plant*

The_Debt_Doctor

"He's the kind of person that is too thick to cancel Direct Debits/standing orders."

And you lent this creature your hard earned cash.... bravo.

Lesson learnt I assume - as others have said, keep him sweet for now until amigo is sorted.

nearlyrich

Hindsight is 20:20 we all know it, the OP came for advice not to be told he shouldn't have done it. I agree with the people who say keep quiet until the Amigo Loan is sorted and then ensure he starts giving you the money he was giving to Amigo good luck.

robatwork

Actually, you gave your friend a nice gift.

Expensive lesson as now you have lost both.

gycraig_2

i lent a mate a grand and lost it all.

first thing is first, forget your 1600 quid as that is dead money with no interest HE NEEDS TO PAY AMIGO FIRST. no point paying you money while he is paying 50% apr on a amigo loan.

if you have the cash handy i would pay off the amigo loan but get a legally binding contract set up for him to pay you the cash back. Otherwise the !!!! could pay minimum payments and they end up coming to you for stupid amounts

C_Mababejive

I've said it before and i'll say it again. The best place to borrow money from is a bank. If they wont lend it,why should I? Get as much of the amigo loan sorted as possible,,thats the big hitter here..

csgohan4

Money and friends cannot mix together unfortunately

uncreative

I lent a friend £400 about a year ago, ok its not a huge amount of money to lose but still its enough. Will pay you back next week, need a washing machine, kids no clean clothes, blah blah

Now i didnt have that cash on me but offered to go to currys or whatever to buy one. No no, have seen one already, jst need the actual cash - ok should have smelt a rat there but didnt.

So ended up went to the cash machine and took the cash out of a credit card and that cost me fees and interest too, I was in debt as well!!!

SO i still see this person all the time, and not a thing is said. I still cant believe it. No way would I have done that, I would focus all my efforts on paying the debt back plus giving an extra bottle of something nice to say thanks.

People are just brought up differently. Maybe that person sees me all the time and thinks of me "what a sucker". I just dont understand that people would do that to friends.

But would I do it again, of course I would because thats who I, and probably the majority of people, are. You help people that tell you they are in trouble.

loskie

/\ Have you not learned?
DOH!

PeacefulWaters

uncreative wrote: »

But would I do it again, of course I would because thats who I, and probably the majority of people, are. You help people that tell you they are in trouble.

I think there's a definition of insanity somewhere ...

gayleygoo

Uncreative, why did you use a credit card to get cash for someone else? If you didn't have the money, couldn't you could have just told your friend that? If a credit card was the answer, couldn't she have gotten one herself? Did she actually buy a washing machine with the money? I understand you were trying to help, but this sort of this ruins friendships and could leave you unable to pay your own bills.

I would always help a friend in need too, or a stranger if I could. But if I couldn't afford to gift them the money they needed (don't expect the money back, it's a bonus if it does come back), then there might be another way. Friend could use my washing machine free of charge as long as needed. If their family was hungry, I'd buy them some groceries or cook a few meals for their freezer. You don't need to hand out money (you don't have) to help people, just be kind.