Lending money to friends & family

Sagaris

:spam: reported

ViolaLass

I lent a friend money, more because I felt she was being treated badly by her family at the time and I wanted to show my support. It took 18 months but she paid every penny back.

I did the same for my SIL, who had credit card debt as a result of being a student. She also paid every penny back.

That said, it made me a bit jumpy. I'd be very picky about who I'd do it for again.

MABLE

If you want to borrow money go to Bank on Dave. Dont worry if you have a poor credit history because Dave is so trusting he will not even do a credit check on you.

CKhalvashi

Sagaris wrote: »

:spam: reported

I don't see spam?

GDB2222

CKhalvashi wrote: »

I don't see spam?

Maybe it was removed?

Sagaris

CKhalvashi wrote: »

I don't see spam?

There was a spam post there, trust me - the powers that be have removed it!

amyloofoo

I've been on both sides of this - I've lent money to people, only to have them disappear / renege on the agreement and leave me in major financial difficulties and feeling very stupid :mad:

But I've also been in the position of needing to lend money from friends and family, and ALWAYS repay, even if I have to do it slowly. It amazes me that people think they can get away with (or even want to get away with) ripping off their nearest and dearest.

priyankabdd

welcome heman..:j

lightning87

While I was with my ex-boyfriend of almost 5 years, I lent him a LARGE total sum of money in varying amounts over the period of around 3 years. He had his deceased fathers' debts to pay off and he and his family were struggling to get by. There was no written agreement, although while we were together he say many times that I would eventually start getting my money back once he was in employment and stable. More recently when I have approached him about the money, he has been claiming that it was never a loan and that if he ever gives any of it back, it will be out of 'goodwill' and not because he owes it to me. He wants to see the receipts that I have kept that show I put cash into his bank account so that he can calculate the exact amount - he doesn't want to take my word for the total amount. I have said I will bring the receipts to him, show them to him and then take them back but he is having none of it. He wants me to post them to him and has even said that he will then get rid of them! I don't want to lose my proof and have therefore not sent them as yet, but he has said that without seeing them, he won't give me a penny.
He is saying that he will claim it was a 'gift' and that I cannot claim it was a loan. I have email proof of him saying that he will try to pay me back, but he also has email proof of me saying (back when we first broke up), that I don't care about the money, because I wasn't in a state at the time to communicate with him about it all as it had been a bad break-up and I needed to get out of the situation.
I want to know what my chances might be if i go through court to try to get him to pay up, or whether it is not worth it.

GDB2222

lightning87 wrote: »

While I was with my ex-boyfriend of almost 5 years, I lent him a LARGE total sum of money in varying amounts over the period of around 3 years. He had his deceased fathers' debts to pay off and he and his family were struggling to get by. There was no written agreement, although while we were together he say many times that I would eventually start getting my money back once he was in employment and stable. More recently when I have approached him about the money, he has been claiming that it was never a loan and that if he ever gives any of it back, it will be out of 'goodwill' and not because he owes it to me. He wants to see the receipts that I have kept that show I put cash into his bank account so that he can calculate the exact amount - he doesn't want to take my word for the total amount. I have said I will bring the receipts to him, show them to him and then take them back but he is having none of it. He wants me to post them to him and has even said that he will then get rid of them! I don't want to lose my proof and have therefore not sent them as yet, but he has said that without seeing them, he won't give me a penny.
He is saying that he will claim it was a 'gift' and that I cannot claim it was a loan. I have email proof of him saying that he will try to pay me back, but he also has email proof of me saying (back when we first broke up), that I don't care about the money, because I wasn't in a state at the time to communicate with him about it all as it had been a bad break-up and I needed to get out of the situation.
I want to know what my chances might be if i go through court to try to get him to pay up, or whether it is not worth it.

You can always send him a photocopy of the receipts, but you should keep the originals. From what you say, you probably have a good case, but in practice, unless he has the money to repay you, there's no point in suing him.

BTW, why would he have his father's debts to pay off?