Re: Lending money?
 

Glad you've resolved this, hopefully it'll work out well for both parties :)

We once lent a very good friend around £3.5K, knowing that he was desperate for it and would pay it back. He took on two extra part time jobs to be able to pay it off and pay it off he did.

Problem was, it came back in bits and bobs. £25/£50 one week, £100 a few weeks later... in the end, very little of it went back into the savings we worked so hard for and was, instead, lost into the abyss of day to day spending.

I wouldn't change things - he needed help and we were able to offer it - but, although we didn't actually lose money (excepting interest), it felt as though we did.

Outside close family there are maybe three people I would trust enough to do this for.

Re: Lending money?
 

How interesting. There is actually only one person I would lend money to (my best friend whom I trust entirely). My family immediate ... not a chance.

Re: Lending money?
 

Kix, can you split that and lend me a fiver?

Re: Lending money?
 

You don't enjoy it here that much by you stick it out so you can save for a deposit for a house, for you, for your hard work, for your future.

You're being very selfish not lending the money and risking chucking it all away.

;)

Re: Lending money?
 

Well, OK, close family is a little different. My mother and my two kids I wouldn't really expect to see repaid (although I know my mum would want to and the kids would make a half hearted effort. For a while ;) ), so more a gift. As they'd only ask if they were really desperate, I don't mind that and would adjust my own finances accordingly (without leaving myself in the mire, obviously). Brother and sister would definitely do their utmost to pay me back.

Re: Lending money?
 

I hope it works out as my advise would also be not to do it.

Re: Lending money?
 

You have mixed friendship and business Kitty.

Re: Lending money?
 

"Hey, buddy can you spare a dime ?"

A dime is okay but ten thou ?????????

Re: Lending money?
 

I guess the general feedback is NO ,most people generally don't lend that amount of money.

It seems you are going against the trend.

Re: Lending money?
 

When I was living in Bulgaria but working in the Middle East I had lots of requests for financial "help". I soon learned to say "NO !"

Re: Lending money?
 

Or having made her mind up before asking us.........

Re: Lending money?
 

Britexpat,

no I have listened, basically I have agreed to lend him a lower value. What I hadn't made clear as didn't want to go into so much detail (but now feel my actions need a bit of explaining)is that he does some work on a seasonal basis for me to the agreed loan value so we have agreed that if he hasn't paid me back by a certain date I will keep his fee, so it's kind of guaranteed unless he dropped dead in which case his mother will settle it with me.

I have listened to what everyone has said and have discussed my concerns with him quite thoroughly and have taken on board the feedback. I have also made it clear he is never to ask me again.

Re: Lending money?
 

Kitty, I truly hope it works out for you.

Re: Lending money?
 

me to! If it helps I have threatened to get his kneecaps done if he lets me done- 50 quid a pop.

Re: Lending money?
 

£50 a pop? Can i have a £1000 quids worth here? Will pay flights too!!?