Loan to Friend-what shall I do?

Mr_bob

Conclusion - my wife has got the money else where to lend - her mother 2K and her boss (MD) 1K. Her mother and boss are, Im guessing trying to stop us falling apart over this. Not that I believe we would. i would have given the loan through a solicitor. However its done now and Ive been told it has nothing to do with me anymore.

thanks for all the comments .

DCFC79

Glad you got it sorted.

selloptape

Hope you are both okay x

AnotherJoe

Mr_bob wrote: »

Conclusion - my wife has got the money else where to lend - her mother 2K and her boss (MD) 1K. Her mother and boss are, Im guessing trying to stop us falling apart over this. Not that I believe we would. i would have given the loan through a solicitor. However its done now and Ive been told it has nothing to do with me anymore.

thanks for all the comments .

Thanks for the update and Wow! So your wife borrowed money from 2 other people in order to lend it to her friend?

:eek:

David301

Im sorry Mr Bob but

Mr_bob

AnotherJoe wrote: »

Thanks for the update and Wow! So your wife borrowed money from 2 other people in order to lend it to her friend?

:eek:

Both have given the money to my wife as a gift and she will give it over as a gift. Her friend says she will pay it back, she may do but until it is, Im staying out of the circle. No favours of offer of labour, no playing happy guest for dinner at the new house.If ever I visit, I would be doing an inventory of her stuff?
Its hard not to be cynical but its easy to forget and move on, which i will. Thanks again to everyone, its been very helpful.

tonyh66

Mr_bob wrote: »

Both have given the money to my wife as a gift and she will give it over as a gift. Her friend says she will pay it back, she may do but until it is, Im staying out of the circle. No favours of offer of labour, no playing happy guest for dinner at the new house.If ever I visit, I would be doing an inventory of her stuff?
Its hard not to be cynical but its easy to forget and move on, which i will. Thanks again to everyone, its been very helpful.

rock and a hard place, if the money is paid back your wife will never let you hear the end of it, if it is not paid back you will probably have to step in and pay the other friends without complaint.

zorber

Whilst im too late on this thread. my 2p.
i recently lent £1.2k to a friend, this was a short term loan to allow her to get back on her feet to get her own fault after spliting from her BF. This loan was the first months rent and depost and i would get the money back a couple of months later when her existing deposit was refunded. Unfortunately she appeared to blow her money on holidays and partying until she got herself into deep debt. I had to have serious conversations with her until i got through to her that she needed to be paying me back, im now getting £100 per month. Which is not what i wanted but at least its being paid back. I knew the risk before i lent the money and could afford to lose it but it wasnt the point.
We dont really talk any more so i have learnt my lesson.

lizzy85

It depends on how much do you trust your friend. I know as a friend it is our responsibility to help a friend in need, but I know also how hard to earn money and just lend it. Maybe small amounts is okay but big amounts. You have to discuss both how much do you trust this friend.

Mr_bob

AnotherJoe wrote: »

Thanks for the update and Wow! So your wife borrowed money from 2 other people in order to lend it to her friend?

:eek:

Ive agreed my wife could use our money and she declared to pay it back into our account (hopefully directly form her friend). I cant have her lending from her boss and mother. Im still angry at her and finding it hard to forgive. I know I will have to and move on. Anyway, I need to move on because its making me ill. If anyone reads this thread and needs advice. Do not offer and lend money to anyone PLEASE!!!