Comments on: Should You Lend Money to Family Members? Warnings and Tips http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/ Got goals? Need a push in the right direction? You've come to the right place! Thu, 24 May 2012 22:43:26 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Lisa http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-44327 Lisa Thu, 24 May 2012 09:47:20 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-44327 My 20 year old son borrowed about $2500 from his dad, my ex husband, with a verbal agreement for son to pay back. Son has had financial trouble due to losing job. Father is threatening legal action. Can he sue son for this? Son had every intention of paying back, but life happened. Mind you ex never helped with our kids financially, always behind on child support, and owes me thousands of dollars in his 50% of our children's medical bills he was ordered to pay in our divorce decree, I haven't had money to go after him, but he dares do this to our son? Advice please and thank you. My 20 year old son borrowed about $2500 from his dad, my ex husband, with a verbal agreement for son to pay back. Son has had financial trouble due to losing job. Father is threatening legal action. Can he sue son for this? Son had every intention of paying back, but life happened. Mind you ex never helped with our kids financially, always behind on child support, and owes me thousands of dollars in his 50% of our children’s medical bills he was ordered to pay in our divorce decree, I haven’t had money to go after him, but he dares do this to our son? Advice please and thank you.

]]> By: lisa marie http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-43125 lisa marie Thu, 03 May 2012 17:28:27 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-43125 My father recently passed away and left me the executor to his estate. tehre wasn't alot of money just a house in new jersey that he bought to renovate and rebuild. it is not livable and worth maybe 60k. he had a girlfriend for 6-7 years that he lived with, shes been married 3 times and has a really nice house thanks to them im sure.. im being snobbish but its true. anyway my dad borrowed 20k from her to put toward the downpayment on the purchase of the house; however, she pulled out 63K from the home equity line of credit and had the check made out to stiles law firm for 63k. the house was only 70K. i cant prove this but based on the conversations i had with my dad and the conversations he had with othr family members 20k is all he owed. she doesn't work and receives 1000 in disability. im sure she took out the 63k and my dad gave her the cash for the remaining balance and she put it in the bank to live on. theres no way he borrowed that kind of money and didnt tell me. i wont make any money off the house if i pay her what she claims i owe not to mention i pay 4300 in taxes on the house a year. i only make 35k how am i supposed to live? i have 4 kids and im a single mother. she obviously didn't love my dad. please give me some good news or shed some light on my situation if you have any,.. My father recently passed away and left me the executor to his estate. tehre wasn’t alot of money just a house in new jersey that he bought to renovate and rebuild. it is not livable and worth maybe 60k. he had a girlfriend for 6-7 years that he lived with, shes been married 3 times and has a really nice house thanks to them im sure.. im being snobbish but its true. anyway my dad borrowed 20k from her to put toward the downpayment on the purchase of the house; however, she pulled out 63K from the home equity line of credit and had the check made out to stiles law firm for 63k. the house was only 70K. i cant prove this but based on the conversations i had with my dad and the conversations he had with othr family members 20k is all he owed. she doesn’t work and receives 1000 in disability. im sure she took out the 63k and my dad gave her the cash for the remaining balance and she put it in the bank to live on. theres no way he borrowed that kind of money and didnt tell me. i wont make any money off the house if i pay her what she claims i owe not to mention i pay 4300 in taxes on the house a year. i only make 35k how am i supposed to live? i have 4 kids and im a single mother. she obviously didn’t love my dad. please give me some good news or shed some light on my situation if you have any,..

]]> By: anne http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-41619 anne Thu, 05 Apr 2012 02:25:54 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-41619 my husband's friend borrowed money from someone we both all know..they don't trust our friend, so my husband made a way for his friend..my husband lend money under his name for the benifits of his friend..the lender thought that it was my husband's debt...there's no written agreement between the lender and my husband at all, only a oral agreement...but our friend could'nt afford to pay the debt and im afraid that the lender will harassh my husband soon...what should we do?? i'm planning to get a legal agreement between my husband and my friend's husband stating that we are not liable for any debts that he makes under my husnbd's name... my husband’s friend borrowed money from someone we both all know..they don’t trust our friend, so my husband made a way for his friend..my husband lend money under his name for the benifits of his friend..the lender thought that it was my husband’s debt…there’s no written agreement between the lender and my husband at all, only a oral agreement…but our friend could’nt afford to pay the debt and im afraid that the lender will harassh my husband soon…what should we do?? i’m planning to get a legal agreement between my husband and my friend’s husband stating that we are not liable for any debts that he makes under my husnbd’s name…

]]> By: Dahlia http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-40947 Dahlia Fri, 23 Mar 2012 01:17:57 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-40947 Help me..my mother in law drives me nuts!! Me and my husband got married last 2005. And she help us to prepare everything except She didn't tell me it's a loan my husband know About it before we got married but he doesn't Have a guts to tell me.. Now it's 2012 and she Wants her money and they just tell me now I don't Know what to do..she's asking alot of money 5k and My wedding is way too simply and I don't think She spend 5k I even ask her where's the proof That she spend she just tell me she don't remember Where she put it so it's really suspicious I don't Wanna think of that way but sometimes u can't Help it..beside its alot 5k is a worth of fortune for my Family please give me advise please Help me..my mother in law drives me nuts!!
Me and my husband got married last 2005.
And she help us to prepare everything except
She didn’t tell me it’s a loan my husband know
About it before we got married but he doesn’t
Have a guts to tell me.. Now it’s 2012 and she
Wants her money and they just tell me now I don’t
Know what to do..she’s asking alot of money 5k and
My wedding is way too simply and I don’t think
She spend 5k I even ask her where’s the proof
That she spend she just tell me she don’t remember
Where she put it so it’s really suspicious I don’t
Wanna think of that way but sometimes u can’t
Help it..beside its alot 5k is a worth of fortune for my
Family please give me advise please

]]> By: CAS http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-39626 CAS Sun, 15 Jan 2012 07:36:02 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-39626 Hi, I'm living with my aunt for the states medical coverage programs and I've been head hunted by the rest of the family because they think I'm after her money and house. They posted on Facebook my medical facts and harassed my mom and sister. I've lost three job interviews because of this and had another job get killed too. And the kicker is that I can't get a job of any sorts where my mother lives. She also put me in a bad spot by putting my name and social security number down for her life insurance policy. She absolutely trusts this one niece of hers and has her for the will enforcer. But this same niece said to her on the phone that she check and has full authority over her life insurance and she doesn't think this odd at all. What do I do to get out of all this crap without losing the only place I can currently live at? I'm seriously thinking of bringing my grades up, going to college in Canada for four years, and becoming a Canadian citizen. Hi, I’m living with my aunt for the states medical coverage programs and I’ve been head hunted by the rest of the family because they think I’m after her money and house. They posted on Facebook my medical facts and harassed my mom and sister. I’ve lost three job interviews because of this and had another job get killed too. And the kicker is that I can’t get a job of any sorts where my mother lives. She also put me in a bad spot by putting my name and social security number down for her life insurance policy. She absolutely trusts this one niece of hers and has her for the will enforcer. But this same niece said to her on the phone that she check and has full authority over her life insurance and she doesn’t think this odd at all. What do I do to get out of all this crap without losing the only place I can currently live at? I’m seriously thinking of bringing my grades up, going to college in Canada for four years, and becoming a Canadian citizen.

]]> By: Shawna http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-39482 Shawna Sun, 08 Jan 2012 05:35:22 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-39482 I wish I followed this advice. We loaned the inlaws 5000 9 months ago. they told us they would pay us back in full in 3 months but we have not seen a penny. Everytime I ask my husband about it he throws a fit. I am thinking we threw this money away. I am pregnant now and our daycare bill will be over 2000 a month when the child comes because we already have a child. I really wish we never loaned them money. I found out they borrowed 10000 from someone else and bought a car off his sister and have not paid them back yet (after the fact). Don't loan anyone money. You may never get it back. I wish I followed this advice. We loaned the inlaws 5000 9 months ago. they told us they would pay us back in full in 3 months but we have not seen a penny. Everytime I ask my husband about it he throws a fit. I am thinking we threw this money away. I am pregnant now and our daycare bill will be over 2000 a month when the child comes because we already have a child. I really wish we never loaned them money. I found out they borrowed 10000 from someone else and bought a car off his sister and have not paid them back yet (after the fact). Don’t loan anyone money. You may never get it back.

]]> By: odyssey http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-38593 odyssey Wed, 30 Nov 2011 07:32:59 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-38593 hi I'm a 21 yr old mother with a five yr old daughter and I live with her father and his family we our comman lawed married...well my question is my grandmother helped me pay off some warrants of about $3,000 sometime ago I did sign a contract that it would be payed off in Dec of this yr I am unable to do that family members such as my mother have told me that my grand mother is going to try and take me to court if I don't have it paid off...now I have made about 3 or 4 payments of $100 to her.the contract said I believe that she loan me a amount of money and that it had to be paid off by Dec 2011and the payments had to be once a wk of $100.now at the time I had a very good job as a receptionist and I was getting paid $9 hr every wk...so it was possible to pay it off..well I lost that job the wkend of mothers day.I was out of work for a couple of months...I am now work at a fast food restaurant making minimum wage of $7.25 an hr plus tips..now I'm am not saying I don't want to pay it it is just that money is very tight right now with a couple if bills such as a phone bill,water,electric,groceries,and car insurance one a month...and also my daughters experiences plus me and my husdand also....it is even more difficult with the holidays...so is there in advice you can give me??? hi I’m a 21 yr old mother with a five yr old daughter and I live with her father and his family we our comman lawed married…well my question is my grandmother helped me pay off some warrants of about $3,000 sometime ago I did sign a contract that it would be payed off in Dec of this yr I am unable to do that family members such as my mother have told me that my grand mother is going to try and take me to court if I don’t have it paid off…now I have made about 3 or 4 payments of $100 to her.the contract said I believe that she loan me a amount of money and that it had to be paid off by Dec 2011and the payments had to be once a wk of $100.now at the time I had a very good job as a receptionist and I was getting paid $9 hr every wk…so it was possible to pay it off..well I lost that job the wkend of mothers day.I was out of work for a couple of months…I am now work at a fast food restaurant making minimum wage of $7.25 an hr plus tips..now I’m am not saying I don’t want to pay it it is just that money is very tight right now with a couple if bills such as a phone bill,water,electric,groceries,and car insurance one a month…and also my daughters experiences plus me and my husdand also….it is even more difficult with the holidays…so is there in advice you can give me???

]]> By: Y http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-35785 Y Fri, 11 Nov 2011 21:16:07 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-35785 I am in my late teens and working part time (around £200 a month). I am to be a student and I am looking for temporary full time work to save up some money. Even though I live at home with my parents I do have to give them a small amount of money for rent and pay for everything except food thats in the house. My parents have a decent earning between them (around£60grand) but always refuse to lend me any money. I'm not talking big money I'm talking about asking for little things prehaps just once a week such as £2 to get a bus. I appreciate that we all have to save in these hard times but sometimes it seems that they just don't trust me with money. I have always paid them any money I owe and I was wondering if you knew of anyways I could get my parents to trust me with small loans. At the moment I have to rely on internet lenders such as wonga to see me through the month, normally just a small loan like £20 a month but the interest is so high its not doing me any good. I am in my late teens and working part time (around £200 a month). I am to be a student and I am looking for temporary full time work to save up some money. Even though I live at home with my parents I do have to give them a small amount of money for rent and pay for everything except food thats in the house. My parents have a decent earning between them (around£60grand) but always refuse to lend me any money. I’m not talking big money I’m talking about asking for little things prehaps just once a week such as £2 to get a bus. I appreciate that we all have to save in these hard times but sometimes it seems that they just don’t trust me with money. I have always paid them any money I owe and I was wondering if you knew of anyways I could get my parents to trust me with small loans. At the moment I have to rely on internet lenders such as wonga to see me through the month, normally just a small loan like £20 a month but the interest is so high its not doing me any good.

]]> By: Laurie Pawlik-Kienlen http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-27160 Laurie Pawlik-Kienlen Tue, 27 Sep 2011 23:15:02 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-27160 Dear Monica, Wow, have you been through a lot! You are a SURVIVOR. I know you're in a great deal of physical and emotional pain, but believe me -- most people could not have taken what you have. I'm not a lawyer, so can't give you legal advice about how and where to sue your son. Each state has different laws, so you really need to check with a lawyer where you are. Part of me wonders if you should just let it go? I'm not advising you to do this, nor do I necessarily think you should. What your son did was very wrong and even despicable.....but do you really think you'll get your money back, even if you sue? Part of ending the stress, emotional distress, and physical pain you're feeling is forgiving and forgetting. I know you have A LOT to forgive your son for, and you definitely deserve to get everything you lost back, but trying to get it back may cause you more pain and suffering than it's worth. What do you think? Is there a time to lend money to friends or family, and a time to just write it off as a loss? Blessings, Laurie Dear Monica,

Wow, have you been through a lot! You are a SURVIVOR. I know you’re in a great deal of physical and emotional pain, but believe me — most people could not have taken what you have.

I’m not a lawyer, so can’t give you legal advice about how and where to sue your son. Each state has different laws, so you really need to check with a lawyer where you are.

Part of me wonders if you should just let it go? I’m not advising you to do this, nor do I necessarily think you should. What your son did was very wrong and even despicable…..but do you really think you’ll get your money back, even if you sue?

Part of ending the stress, emotional distress, and physical pain you’re feeling is forgiving and forgetting. I know you have A LOT to forgive your son for, and you definitely deserve to get everything you lost back, but trying to get it back may cause you more pain and suffering than it’s worth.

What do you think? Is there a time to lend money to friends or family, and a time to just write it off as a loss?

Blessings,
Laurie

]]> By: Monica http://theadventurouswriter.com/blog/tips-for-lending-money-to-friends-or-family-members/comment-page-1/#comment-26908 Monica Sat, 24 Sep 2011 21:29:06 +0000 http://theadventurouswriter.com/blog/?p=1533#comment-26908 Sorry for leaving such a long message. Guess I should write a book. Sorry for leaving such a long message. Guess I should write a book.

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