Loaning money to friends

[Hatin Since 87]

Ive loaned money before personally i get in the mindset of its more of a gift than a loan. The few people i have loaned to I’ve told them to not promise anything. I’ve gotten it back every time surprisingly. Like i said though i just don’t count on getting it back

Can I borrow some?

 

[chocktaw2]

I have learned that when you loan a friend money, you usually lose both the friend and the money. Never again!!

You just gave me an idea! Thanks

 

[Route 45]

Ive loaned money before personally i get in the mindset of its more of a gift than a loan. The few people i have loaned to I’ve told them to not promise anything. I’ve gotten it back every time surprisingly. Like i said though i just don’t count on getting it back

Off topic, but I'm sitting here wondering what kinds of hats are in your 7 hat collection.

 

[DoggyDaddy]

Off topic, but I'm sitting here wondering what kinds of hats are in your 7 hat collection.

At first I was like, , but then I was like .

 

[churchmouse]

At first I was like, , but then I was like .

IKR...….

 

[Hoosierdood]

Went to court today. Deadbeat friend didn’t even bother to show up. So the judge awarded me a default judgement of $2200 plus another $700 in late fees that I had tacked on. Judge thought the late fees were a little excessive but since the other guy didn’t show to contest it, I got it.

Now the douchebag has 21 days to pay up or I can file to have his wages garnished - which I am already preparing for. I don’t expect him to pay a dime.

 

[churchmouse]

Went to court today. Deadbeat friend didn’t even bother to show up. So the judge awarded me a default judgement of $2200 plus another $700 in late fees that I had tacked on. Judge thought the late fees were a little excessive but since the other guy didn’t show to contest it, I got it.

Now the douchebag has 21 days to pay up or I can file to have his wages garnished - which I am already preparing for. I don’t expect him to pay a dime.

And another of life's many lessons. Some are hard.

 

[natdscott]

Bout tree fiddy

Rep!! hahahaha

 

[terrehautian]

I hired a friend to mow my lawn last year. He did it once on time, I thought great. He did it a second time and I decided to pay him for that time and the next time. The grass got tall and I texted him saying it needed done. He didn't respond for a week, then said he would get it done. He didn't and eventually (after I mowed it), I fired him and asked for the $25 back for the mow he didn't do. Being a friend and not wanting to jeopardize our friendship, I only asked once and when I didn't get it, I let it go.

 

[ashby koss]

if i can spare cash ill hire someone (friend) for some help. help me, help you.

1) never pay it back
1.5) productive
2) feel better about it, no guilt
3) more respect in spending it
4) possibly learn skills, talents, likes and dislikes. etc...

Oh wait, this is why welfare systems dont work out.

 

[JeepHammer]

Best way to lose friends & family.
If I 'Lend' it's a 'Grant', if it doesn't get paid back, it won't upset me, ruin the relationship.

Some times friends/family have issues that money will solve,
Like when a family friend came home from collage for a funeral, went back and found out all her stuff got stolen, completely cleaned out...
It's a collage student, $300 would cover the 2nd hand furniture, dishes, bathroom stuff, etc., I just sent her a $300 check.

Another example is a vehicle break down WAY out of state...
Brake caliper locked up, smoked the wheel bearings, the local dealership gouged the 'Out Of Towner' on tow, parts and labor.
Money (credit card) solved that issue over the phone.

A friend had cancer, needed surgery, worked until the day before the surgery,
The company she worked for decided to fire her and cancel her insurance the evening before her surgery, she didn't know she was fired until she tried to go back to work after 3 weeks of recovery...
Then the bill for the surgery showed up, several thousand she didn't have since it was basically a minimum wage job.

I called the lawyer, the lawyer said 'COBRA' (self paid insurance the company is supposed to offer to policy owners), so we contacted the insurance company, paid about $150 for the first month of COBRA, which covered the surgery...
Again, credit card over the phone, two phone calls.

The kicker to that is, the company called after about 6 weeks and tried to get her to come back to work after her 'Layoff'...
I bet you can guess how that went for them!

If you give cash, it's a 'Gift'. Period.
If you make a loan, write a check, put 'Loan' in the notes line on the check.
If you don't have that documentation, it's a 'Gift' in court...
(Ask me how I found that $5,000 mistake out)

About 1990 I paid my best friend's bail for drunk driving, and got him a lawyer, about $2,500 in total.
That $2,500 cost my best friend, and $2,500 and drove a wedge between me and several other friends, just hasn't been the same.
Now that guy has been arrested 4 or 5 times for drunk driving since then, and actually called me to throw his bail after throwing a fit about money the first time...
Fool me once, shame on you,
Fool me twice, shame on me...
I cut my losses at $2,500 and a friend.

 

[Hatin Since 87]

If you give cash, it's a 'Gift'. Period.

Uh. No. Just no. The form of currency doesn’t dictate whether it’s a gift or loan. Ridiculous to even think that. Not to mention, judges also don’t agree with that premise.

 

[Sigblaster]

For friends, I only do small, short-term loans. I've only had to ask the same a couple times. Like we're down the street, talking **** and drinking beer, and we all decide to pitch in on some pizzas, but my friend didn't bring his wallet. $10 loan, get it back in a couple days. Really don't care if I get it back, but I do. Or when I'm at a gun show with a friend, and find a good cash deal, but I'm $100 short on cash. Borrow $100, hit the ATM on the way home. But large loans? No way. If they can't manage their money well enough to stay out of financial trouble, I don't need to add myself to their list of unpaid creditors.

For my kids, it's a different story. I've made it quite clear that I will not loan them money, but I will give them money if they truly need it. They don't abuse that, and what the hell, they're going to get everything when my wife and I are gone anyways. They've put the bite on me a little during this Coronageddon, but that's understandable what with the cuts in work schedules and such.

Hoosierdood, if I was in your situation, I would make it my new hobby to cause as much trouble and public embarassment for this guy as possible, even if I never saw a cent of it.

 

[churchmouse]

I hired a friend to mow my lawn last year. He did it once on time, I thought great. He did it a second time and I decided to pay him for that time and the next time. The grass got tall and I texted him saying it needed done. He didn't respond for a week, then said he would get it done. He didn't and eventually (after I mowed it), I fired him and asked for the $25 back for the mow he didn't do. Being a friend and not wanting to jeopardize our friendship, I only asked once and when I didn't get it, I let it go.

If that was the actual chain of events he is not your friend. You may consider him your friend but he has no consideration.

JMHO of course.

 

[churchmouse]

Hoosierdood, if I was in your situation, I would make it my new hobby to cause as much trouble and public embarassment for this guy as possible, even if I never saw a cent of it.

^^^^^^^^^^^^THIS^^^^^^^^^^^^^^^^

 

[ces6508]

Over 50 years ago I loan $20 to my best friend. Never got it back. He pasted a few years ago. Miss him far more than the $20.

 

[Hoosierdood]

**UPDATE**

I never saw a dime from the guy, which I completely expected. I laid low for several months, not pursuing any legal action. Its possible that he may have even thought that I had given up and written it off. That couldn't be further from the truth.

I filed papers with the court, and served them on his employer last week to begin garnishing his wages. I waited to file for garnishment until November for a very specific reason. It should take about 3 months (maybe a little more) to pay me back the full amount which means that he will be garnished through the end of January. That means that 25% of his paycheck will be taken all through the Holidays, which will hopefully ruin his plans for Thanksgiving, Christmas, New Year's, and possibly even Valentine's Day. I want this to hurt him.

You can call me an a-hole, and maybe I am. But you take from my family, and I will rain hell on you.

 

[OakRiver]

**UPDATE**

I never saw a dime from the guy, which I completely expected. I laid low for several months, not pursuing any legal action. Its possible that he may have even thought that I had given up and written it off. That couldn't be further from the truth.

I filed papers with the court, and served them on his employer last week to begin garnishing his wages. I waited to file for garnishment until November for a very specific reason. It should take about 3 months (maybe a little more) to pay me back the full amount which means that he will be garnished through the end of January. That means that 25% of his paycheck will be taken all through the Holidays, which will hopefully ruin his plans for Thanksgiving, Christmas, New Year's, and possibly even Valentine's Day. I want this to hurt him.

You can call me an a-hole, and maybe I am. But you take from my family, and I will rain hell on you.

Sounds like you did everything you could to resolve this amicably. He choose to jerk you around. He doesn't get to complain because you were forced to take steps which may inconvenience him.

 

[Gluemanz28]

I loaned $250 to a friend until they got their tax return. They sent me a check and I didn’t cash it right away because I forgot about it. About three weeks later I sent a message asking if it was ok to cash. They said it would bounce if I cashed it. Ok, I’m thinking when I write a check that money is no longer accessible. We play the can I cash it song and dance for several pay periods with no solid plan in place to pay me back.

I didn’t want to deal with a bounced check fee at my bank so I went to the friends bank and cashed the check. Two hours later I get a nasty text telling me what a piece of crap I am because they were going to get their kids drivers license that day. Nope not my fault.

 

[Cameramonkey]

**UPDATE**

I never saw a dime from the guy, which I completely expected. I laid low for several months, not pursuing any legal action. Its possible that he may have even thought that I had given up and written it off. That couldn't be further from the truth.

I filed papers with the court, and served them on his employer last week to begin garnishing his wages. I waited to file for garnishment until November for a very specific reason. It should take about 3 months (maybe a little more) to pay me back the full amount which means that he will be garnished through the end of January. That means that 25% of his paycheck will be taken all through the Holidays, which will hopefully ruin his plans for Thanksgiving, Christmas, New Year's, and possibly even Valentine's Day. I want this to hurt him.

You can call me an a-hole, and maybe I am. But you take from my family, and I will rain hell on you.

I loaned $250 to a friend until they got their tax return. They sent me a check and I didn’t cash it right away because I forgot about it. About three weeks later I sent a message asking if it was ok to cash. They said it would bounce if I cashed it. Ok, I’m thinking when I write a check that money is no longer accessible. We play the can I cash it song and dance for several pay periods with no solid plan in place to pay me back.

I didn’t want to deal with a bounced check fee at my bank so I went to the friends bank and cashed the check. Two hours later I get a nasty text telling me what a piece of crap I am because they were going to get their kids drivers license that day. Nope not my fault.

What a bunch of nasty MFers you are.

Can I hang with you? I LIKE how y'all think.

I agree. patience until its time for payback. Then the gloves come off.