Monthly cash into TSB account?

MisterMotivated

Ayupduck said:

I was wondering if it would be feasible and try and open a basic bank account for her and have her £247.20 child benefit paid into it and with me being a dear friend would manage this account for her?,. My husband would normally take care of our finances so I'm like a fish out of water with this. I'm worried that my friend will stop making payments now my husband is away so I need some way to guarantee that payments continue as I also have a family to feed and clothe. I just feel my friend needs to take responsibly of her life and quit her addictions. She's been a very good and loyal friend for years and I do wish her the best, I really do.

Aren't you contradicting yourself here?  You say she needs to take responsibility for her life, but you want to manage her money for her?  I also question how good a friend she is if you find it a hassle visiting once a month.  Either way, getting yourself involved with managing her proposed account sounds like a recipe for disaster.

colsten

Yorkshire_Pud said:

Best would be for your friend to contact CAB and Crimestoppers.

I second that 

Ayupduck

MisterMotivated said:

Ayupduck said:

I was wondering if it would be feasible and try and open a basic bank account for her and have her £247.20 child benefit paid into it and with me being a dear friend would manage this account for her?,. My husband would normally take care of our finances so I'm like a fish out of water with this. I'm worried that my friend will stop making payments now my husband is away so I need some way to guarantee that payments continue as I also have a family to feed and clothe. I just feel my friend needs to take responsibly of her life and quit her addictions. She's been a very good and loyal friend for years and I do wish her the best, I really do.

Aren't you contradicting yourself here?  You say she needs to take responsibility for her life, but you want to manage her money for her?  I also question how good a friend she is if you find it a hassle visiting once a month.  Either way, getting yourself involved with managing her proposed account sounds like a recipe for disaster.

I'm just worried she will default on her payments as well as probably take the pee now my husband is away and unable to enforce the debt. If she still thinks she can get away without paying whats owed she has another things coming, I have a family to feed and clothe you know. We are well know on the estate and will not taking pee takers lightly. I'm not going to lend her any more money until at lease half the debt is paid, I think she's taken advantage of out good trusting natures, I'm also a vulnerable adult with dyslexia and dyspraxia and it hurts that she's not following the commitments she's promised. In her ledger is she is fare behind in payments.

colsten

Ayupduck said:

I'm just worried she will default on her payments as well as probably take the pee now my husband is away and unable to enforce the debt. If she still thinks she can get away without paying whats owed she has another things coming, I have a family to feed and clothe you know. We are well know on the estate and will not taking pee takers lightly. I'm not going to lend her any more money until at lease half the debt is paid, I think she's taken advantage of out good trusting natures, I'm also a vulnerable adult with dyslexia and dyspraxia and it hurts that she's not following the commitments she's promised. In her ledger is she is fare behind in payments.

I hope you have been able to pass Yorkshire_Pud's recommendation to your 'friend'. 

Yorkshire_Pud said:

Best would be for your friend to contact CAB and Crimestoppers.

colsten

There appears to have been quite some change since this first post and the latest post. From 'very good friend' to 'she has another thing coming' in the space of a few hours.

Ayupduck said:

I've been lending my very good friend money for a number of years, she's always been very irresponsible with her finances due to her multiple addictions and not putting money aside for school uniforms and such so over the years I've been helping her out with money every week and she pays me back using her monthly child benefit. Its turned into a viscous circle as once she's paid me back she's left with little money to feed her kids so she borrows money off me again and she can become quite demanding with it, I just can't say no, I hate seeing her kids go without. On child benefit day she has avoided me and I have had to go with her to the post office to get my money back, I asked her if she can transfer a monthly amount of £247.20 straight into my TSB-cash- account on benefits day as this would be more convenient for us both. I was wondering if this would cause any problems with my bank? she would deposit the money in cash into my account every month, she hasn't got a bank account to transfer it. Would my bank question this, we would have trail of monies but obviously no loan agreement.  She still has quite a few months left before she pays the whole sum off. Thank you.

General_Grant

colsten said:

There appears to have been quite some change since this first post and the latest post. From 'very good friend' to 'she has another thing coming' in the space of a few hours.

I'm not defending the OP but there was, I think, a miss-type - the phrase was meant to be "another think coming".  That may not be quite so bad as "another thing coming" (or even "another things coming" as written by the OP).

kaMelo

Husband is "away" for three years and unable to "enforce" the debt.
She has to "pay her a visit" every four weeks to collect cash.
"We are well know on the estate and will not taking pee takers lightly."

At least Wonga didn't kneecap people.

colsten said:

Yorkshire_Pud said:

Best would be for your friend to contact CAB and Crimestoppers.

I second that 

I agree.

 

clowning

Surely this is a wind up? 

typistretired

Good friends don't charge interest.

SnowTiger

clowning said:

Surely this is a wind up? 

Probably.

If not, the loan is likely to be for a substantial amount if OP's 'friend' is making MONTHLY repayments of £247.20.

I guess most of that could be interest.