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-   -   Lending money? (https://britishexpats.com/forum/sand-pit-116/lending-money-784928/)

Myusernamewastaken Jan 24th 2013 1:59 pm

Re: Lending money?
 
Is the outstanding job done through his own company? If that is the case I guess it shouldn't be too hard to find a company that is buying the invoice against immediate payment of most the the invoice's worth.

Patsy Stoned Jan 24th 2013 2:49 pm

Re: Lending money?
 
No... definitely don't do it darling. If he is that desperate for the money then he can sell the car and the other stuff to raise it. He sees you as an easy touch..it will end in tears.
Just explain to him that this money is for your house deposit and you just can't risk it. If he is a true friend he will understand, if not he will snub you... then you will know what sort of a friend he is.

commander Jan 24th 2013 3:09 pm

Re: Lending money?
 
No. Don't be soft.

OriginalSunshine Jan 24th 2013 3:21 pm

Re: Lending money?
 

Originally Posted by Patsy Stoned (Post 10503041)
No... definitely don't do it darling. If he is that desperate for the money then he can sell the car and the other stuff to raise it. He sees you as an easy touch..it will end in tears.
Just explain to him that this money is for your house deposit and you just can't risk it. If he is a true friend he will understand, if not he will snub you... then you will know what sort of a friend he is.

what she says :amen:

Myusernamewastaken Jan 24th 2013 3:33 pm

Re: Lending money?
 

if he has collateral he can sell to repay you then why not sell it now to raise the funds in the first place

If he needs the money that desperately, then he should sell his car and get a hire car for a while.

If he is that desperate for the money then he can sell the car and the other stuff to raise it.
+1

BTW, I assume that you have been speaking with him about it over the phone? There are scams going around where hacked facebook accounts etc are used.

kittycat1 Jan 24th 2013 10:00 pm

Re: Lending money?
 
Thank you for all the advice guys, appreciate it loads. :)

I have spoken to him and we have found a comfortable ground that helps him and is pretty risk free for me, I don't want to go into the details but it's a solid solution, which guarantees I will get the money back.

Just to make it clear I have asked on here as I know other people have been put in a similar situation and I wanted general feedback as to whether people lend this kind of money (to anyone)or not, It's not that I don't trust him, but lending such a large amount of money takes me way out of my comfort zone and I would be nervous loaning such an amount to anyone.

NorthernLad Jan 25th 2013 4:24 am

Re: Lending money?
 
Look at it from another angle, you moved out here, have found it difficult at times but put up with it. Worked hard, all for a deposit for a house.

Are you going to risk losing all of that?

Kix Jan 25th 2013 6:28 am

Re: Lending money?
 

Originally Posted by kittycat1 (Post 10503987)
Thank you for all the advice guys, appreciate it loads. :)

I have spoken to him and we have found a comfortable ground that helps him and is pretty risk free for me, I don't want to go into the details but it's a solid solution, which guarantees I will get the money back.

Just to make it clear I have asked on here as I know other people have been put in a similar situation and I wanted general feedback as to whether people lend this kind of money (to anyone)or not, It's not that I don't trust him, but lending such a large amount of money takes me way out of my comfort zone and I would be nervous loaning such an amount to anyone.

Can you lend me a tenner....

Millhouse Jan 25th 2013 8:17 am

Re: Lending money?
 
Never lend money.

Oh, and a contract etc. means nothing when dealing with a friend/ family. You'd never enforce your rights anyway, so no point in wasting the effort drawing it up.

Bahtatboy Jan 25th 2013 8:23 am

Re: Lending money?
 

Originally Posted by Millhouse (Post 10504613)
Never lend money.

Oh, and a contract etc. means nothing when dealing with a friend/ family. You'd never enforce your rights anyway, so no point in wasting the effort drawing it up.

Try telling that to Ethos.

Round-Bum Jan 25th 2013 8:30 am

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.

Millhouse Jan 25th 2013 8:33 am

Re: Lending money?
 

Originally Posted by Round-Bum (Post 10504628)
Outside close family there are maybe three people I would trust enough to do this for.

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.

claimsboys Jan 25th 2013 8:38 am

Re: Lending money?
 

Originally Posted by Kix (Post 10504480)
Can you lend me a tenner....

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

Scamp Jan 25th 2013 9:55 am

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.

;)

Round-Bum Jan 25th 2013 10:20 am

Re: Lending money?
 

Originally Posted by Millhouse (Post 10504633)
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.

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.


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