Unexpected cash gift

Sea_Shell

What's that phrase...ah yes....No good deed goes unpunished!!

There's more to all this I'm sure, but as the OP has decided to no longer comment, we'll never know.

Shimrod

Sea_Shell wrote: »

What's that phrase...ah yes....No good deed goes unpunished!!

There's more to all this I'm sure, but as the OP has decided to no longer comment, we'll never know.

A quick check of the OP history reveals a £25K loan taken out two years ago (as a debt consolidation loan) has mushroomed to £50K. That's on top of a bankruptcy in 2009 would indicate the OP would be better taking a visit to the debt free board. While they might have every intention of repaying their friend, past history would suggest this could be a challenge and the bank might be correct to flag this payment as an issue.

Apodemus

Sea_Shell wrote: »

There's more to all this I'm sure, but as the OP has decided to no longer comment, we'll never know.

The OP has posted extensively on their bankruptcy and their previous struggle to control debts and get their life back together. If the lender’s bank was aware of any of this, it might have added to their sense of unease about supporting the transfer.

Sea_Shell

I'm not sure who (or how) the solicitors are going to be representing??? Are they going to:

a) sue the bank for not carrying out their friends instructions
b) sue the friend for failing to produce the promised money (for which they may have a written "contract")

Apodemus

Sea_Shell wrote: »

I'm not sure who (or how) the solicitors are going to be representing??? Are they going to:

a) sue the bank for not carrying out their friends instructions
b) sue the friend for failing to produce the promised money (for which they may have a written "contract")

I would presume that the solicitors would act to structure the arrangement and handle the transfers.

But that in itself raises questions in my mind as a single solicitor can surely not act in the best interests of two parties? The lender’s best interests and those of the receiver are different and each needs separate representation in the deal, which will rapidly increase the costs of the transaction. I know that this sort of thing happens in real life, but it always makes me nervous when I see it!