Posted: Tue Nov 28, 2017 12:08 pm Post subject: What to do when friend won't pay you back
First off, in hindsight, I know I should not have lent any money to a friend. There’s probably a rule about it out there somewhere. But I did…lesson learned. Anyways, back in September, a friend of mine asked me for some money. His dog needed surgery and the procedure set him back a bit and he isn’t on good terms with his family so he turned to me. Because of the procedure, he was in debt and was back on rent. His mother recently passed away too and he swore on her grave he’d pay me back. I felt for him. Him and I always talked here and there but around that time, we were talking daily. I figured he’d be good for it. Looking back on it now, he was just scheming and playing me..
He said he would begin paying me back in installments and that he would pay me back completely by March of next year. I gave him the money and everything was normal still. Then a few weeks ago I texted him to see when he would begin paying me back. I never got a reply. I texted him again days later and same thing. Come to find out, he also borrowed money from another friend and he too is unable to get a hold of him.
So I am pretty certain he’s ducking us in hopes of not paying us back. My question is, other than small claims court, is there any other way I can get my money back? I have proof in the form of the text conversation where he asked for the money and agreeing to paying it back and when he would pay it back etc.
If you lend friends/family money, you should be prepared to not have it paid back. Otherwise, don't lend in the first place. _________________ From 2-10 to the Western Conference Finals
Either go the legal route, which probably won't net you much, go gangster, or admit your 'friend' is a piece of crap and not worth the effort and move on. And like you said, lesson learned. I NEVER loan friends money, and never would ask. Family? I figure it's not coming back so I never call it a loan. Just helping out.
thats one of my biggest pet peeves in life... so called friends and fam who beg for money and force you to beg them just to pay it back. _________________ (bleep) Kawhi
Sounds like either take the loss (which isn't really an option, I can't afford that) or take him to court. Fun. It's kind of what I figured but was curious if there was anything else that could be done. Thanks guys
if its money you really need back I would try finding a way to talk to him. Dont be hostile (he would likely just get defensive and give him an excuse to disappear and avoid you further) but make up a sob story as to how you helping him has made things hard on you and how you really need your money.
Court should be a last resort as thats a huge pain and you still have to deal with collecting if you win. _________________ (bleep) Kawhi
Sounds like either take the loss (which isn't really an option, I can't afford that) or take him to court. Fun. It's kind of what I figured but was curious if there was anything else that could be done. Thanks guys
Man, loaning out money to a friend when you can't afford to is even worse. Sucks he did that crap to you. Hope the legal option works better for you than it does for most in these kinds of cases.
thats one of my biggest pet peeves in life... so called friends and fam who beg for money and force you to beg them just to pay it back.
And if you beg they still often won’t pay it back. It’s a great deal for the friend. He gets free money and usually nothing happens when he doesn’t pay it back. He just moves on to the next victim.
The lesson is don’t lend money. A real friend would understand.
Posted: Tue Nov 28, 2017 2:52 pm Post subject: Re: What to do when friend won't pay you back
LakersChamps04 wrote:
First off, in hindsight, I know I should not have lent any money to a friend. There’s probably a rule about it out there somewhere. But I did…lesson learned. Anyways, back in September, a friend of mine asked me for some money. His dog needed surgery and the procedure set him back a bit and he isn’t on good terms with his family so he turned to me..
He isn’t on good terms with his family? Why am I not surprised? I wonder if he asked any of them to borrow money. His family probably knows about a lot of the bs he tries to pull.
If you lend friends/family money, you should be prepared to not have it paid back. Otherwise, don't lend in the first place.
This. I never lend money to a loved one. If they need the money, I "lend" it to them, but count it as a gift and never let it come between us. If they pay it back, great. If not, I still have that relationship. Friends and family are worth more than money.
Joined: 10 Dec 2006 Posts: 52657 Location: Making a safety stop at 15 feet.
Posted: Tue Nov 28, 2017 3:11 pm Post subject:
OregonLakerGuy wrote:
yinoma2001 wrote:
If you lend friends/family money, you should be prepared to not have it paid back. Otherwise, don't lend in the first place.
This. I never lend money to a loved one. If they need the money, I "lend" it to them, but count it as a gift and never let it come between us. If they pay it back, great. If not, I still have that relationship. Friends and family are worth more than money.
Exactly. Should be everyone's rule of thumb. _________________ You thought God was an architect, now you know
He’s something like a pipe bomb ready to blow
And everything you built that’s all for show
goes up in flames
In 24 frames
Lesson #1: Anytime somebody asks you for a loan, whip out your smartphone and tell them there is this Kewl App that will match you up with a lender that is the best match for you (Credit Karma)
Lesson #2: A friend might tell you of his state of woes, but would never ask you for money. A friend would not put you in that position and understands that if you wanted to help, you'd offer.
Lesson #3: NEVER ever think about loaning money to someone who's own family wouldn't loan them a dime, and which a bank wouldn't extend furthur credit to via a credit card.
If you desire to discourage this individual from pilfering from other peers, then take him to Small Claims Court. After you win your judgement, file for a wage garnishment. Both the Judgement and the wage garnishment will show up as a Public Record on his Credit Report, and pop up when he tries to get a new job, or move into a new place. If you're worried about being the guy who took a 'friend' to court, then just lick your wounds and be happy to have learned the lesson before being exposed to an even larger loss. _________________ I'm On point, On task, On message, and Off drugs. A Streetwise Smart Bomb, Out of rehab and In denial. Over the Top, On the edge, Under the Radar, and In Control. Behind the 8 ball, Ahead of the Curve and I've got a Love Child who sends me Hate mail.
Joined: 17 Nov 2007 Posts: 67720 Location: In a world where admitting to not knowing something is considered a great way to learn.
Posted: Tue Nov 28, 2017 3:38 pm Post subject:
If you don't mind airing your business to the country, go on one of the judge shows. If I'm right win or lose they foot the bill. You get your money and lose a friend, if he was really one in the first place. _________________ Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.
If you don't mind airing your business to the country, go on one of the judge shows. If I'm right win or lose they foot the bill. You get your money and lose a friend, if he was really one in the first place.
Yes, and give a shout out to your LG family afterwards....
Joined: 23 Jul 2004 Posts: 12898 Location: Los Angeles
Posted: Tue Nov 28, 2017 4:19 pm Post subject:
That's unfortunate. Hate to hear about stuff like this. If somebody can't go to their own family for assistance, he's probably burned then before. You must've really extended yourself financially to help this dude to go through the headache of suing him.
Try to scare him first. Send him a formal letter, certified mail, demanding he hold to the repayment terms and threaten him with a lawsuit. Give him 5 days to respond. See if that will at least get him to drop off some money. _________________ So glad we gave you your flowers while you were here, Kobe.
How do you squeeze blood from a stone? I suspect he literally has no money. If your other friend hasn't been paid back either.
Find out what is going on with him in person. If he's a friend, he'll tell you the truth about where he's at. Talk to him in person with your other friend who he borrowed money from, and say that you guys care about him but dude, what's happening?
If he's just BSing, you can tell. Take him to small claims. Otherwise, figure out how to deal with the loan and for him to pay it off. Maybe not in the timeline that you like, but it's better to do that, if he's truly down and out.
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