| | survey 40% of people owed money friends and familyPage 1 of 1 | | read this recently, ive had people ask me for a loan but i know deep down i would be chasing them for it back forever then some have the knack of making you feel guilty for hounding them, one lad on one job was called jimmy the tap, used to borrow £3 on average over a site of 200 men , if he didnt pay back half he would poss 50 to 100 quid a week, also he smoked OPs [other peoples], is this a big a problem as the survey suggest | |
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| survey 40% of people owed money friends and family
Posted: 7/2/2012 11:43:54 AM | I have no problem at all lending friends or/and family money to tide them over, but as far as friends are concerned, i have one unbreakable rule, if they dont pay back, they get no more help, end of,
with family, its different, most of the time, i forget about it as soon as its "loaned" thats what families are for,..however, i know a piss take when i see one, and even a family member would be "cut off" if they took the piss. :O) | |
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| survey 40% of people owed money friends and family
Posted: 7/2/2012 11:57:49 AM | | Exactly my approach welshduck I'm far from rich but its a sad day I can't help somebody else, just never lend more than I could afford to lose in the unlikely event it didn't come back. | |
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| survey 40% of people owed money friends and family
Posted: 7/2/2012 1:34:20 PM | It wouldn't surprise me at all if the 40% figure was correct. People getting to near the end of the week and borrowing a few £'s to get to pay day. You only need to see how many 'money lenders' advertise on TV to understand what a big problem people are having to get from one month to another.
I can't imagine family ever borrowing money but would happily give it to them and not loan it. With friends, I am the same as others, I will loan money time after time so long as they pay it back without being reminded. If it's only a few £'s then I tell them not to bother (unless it was every week and they were taking the piss)
An ex colleague and friend was struggling in January while she was waiting on final payment from a contract. I loaned her £1000 and told her just to pay it back when she could, knowing that it might be several months. She insisted on writing a note stating that I had loaned her the money in case anything happened to her. She paid it back a few months later and gave me interest. | |
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 12:47:13 AM | | The golden rule is never lend more than you can afford to miss. If we're talking a small amount, I'd prefer to give it and not loan it. But never, ever make a habit of it. | |
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 2:28:37 AM | If I'm honest I've lent out too much money to friends, they have all paid me back but I'm now in the situation where I have a mates car insurance in my name (because it's cheaper as me as the main driver), a mobile phone contract, a forex trading account and a credit card.
The good thing about the recession is I can use it as an excuse to not lend people money, i.e. "in times like these"
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 4:26:27 AM | Point them in the direction of WONGA !!!
So for that company as lent 4 million loans at extortionate interest.
Immediate family yep and its usually paid back.
Friends...only very small amounts. I did lend a friend a substantial amount to bail him out once. His payback ?
To declare himself bankrupt very soon after (unknown to me) and he didn't put me down as a creditor.
I would advise anyone to get an IOU at least. Then if something happens to you your relatives know.
In business I find that many people are only to happy to put the credit you have given on the back burner.
Why do you think that gas and electric companies changed many to card meters and PAYG phones came in.
In general the ones who owe me money are the ones who have just bought the new car and come back from 2 weeks abroad . Yep on MY money.
When will we return to a culture of spending what we can afford and not borrowing. Recently I lent someone a small amount to tide him over. His first purchase ? A bottle of Jack Daniels and a bottle of coke. Real essentials. | |
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 7:28:36 AM |
When will we return to a culture of spending what we can afford and not borrowing. Recently I lent someone a small amount to tide him over. His first purchase ? A bottle of Jack Daniels and a bottle of coke. Real essentials.
To be honest people like that deserve to be had by the payday loan sharks. | |
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 9:38:32 AM | | yes i had something similar someone owed me 20 quid, said i would be paid back when i asked a week later said they were skint, i pointed out a tattoo on arm , answer was they had been treated to it didnt convince me so i said keep the 20 , and fvck off out of my life. i felt a lot better thats one less parasite in my life | |
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 12:50:24 PM | | Have never been asked for a loan (must be lucky) but offered to arrange a consolidation loan for my son when he was floundering around financially. It took him 7 years to pay me back which he did every month - think I let him off 1 or 2 instalments - and he finished last week; we bought champagne to celebrate. | |
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| survey 40% of people owed money friends and family
Posted: 7/3/2012 4:07:25 PM | Did the same for a friend who joined the spend spend culture. Ran 4 credit cards up to the hilt with 12 and a half k limit on each one.
Stupidly he was even getting cash out of one to pay the interest on the other until the brakes hit.
At the time he owned his house outright so gawd knows what he was thinking.
Took me 4 months of negotiating with everyone to raise cash against the house to pay everything off.
Now he is stuck with a mortgage which is murder to pay off and his credit rating has been zero for 6 years now.
That meant no HP on anything. No mobile phone contract. No credit cards and a basic working bank account.
Add to that very frugal living.
Why did I do it ?
His mortgage is about half of what he would pay for rent a tiny flat.
Oh forgot to add. As its interest only mortgage the payoff will take every lump sum from all the pension schemes he invested in for 40 years.
All for what ? So he could buy a couple of new cars, go on a couple of holidays and buy rounds to impress in the pub.
A harsh harsh lesson. | |
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