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Thread: Have you ever loaned money to a friend?

  1. #11
    RainyCoast
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    I never told her I took over the loan because I decided it would be better to keep money and friendship separate
    no, you didn't tell her because you wanted her to remain oblivious to the fact you were making profit off her.

    if you wanted to keep money and friendships separate, you would have let her conduct the business with the guy without you as the secret benefiting intermediary.

    and you're complaining she skipped a payment why? because it's dishonest?

  2. #12
    j.man
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    Quote Originally Posted by RainyCoast [Register to see the link]
    and you're complaining she skipped a payment why? because it's dishonest?
    Love it. Perfect delivery.

  3. #13
    Hollyj
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    Quote Originally Posted by RainyCoast [Register to see the link]
    no, you didn't tell her because you wanted her to remain oblivious to the fact you were making profit off her.

    if you wanted to keep money and friendships separate, you would have let her conduct the business with the guy without you as the secret benefiting intermediary.

    and you're complaining she skipped a payment why? because it's dishonest?
    I think it is pretty shady. Now, I know why you didn't want her to know, as you are making 10% off the loan.
    Last edited by Hollyj; 01-01-2017 at 03:36 PM.

  4. #14
    force
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    The interest rate is 10%. She knew the terms before she got the loan. I didn't tell her I took over the loan to try and keep the friendship aspect out of it. If she doesn't pay I don't want her to think I'm the one taking her ring and bracelet.

  5. #15
    j.man
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    So if I'm interpreting it right, since she's a referral, she's being charged 10%? If we're talking an APR, you're collecting like $4 in interest per month. Or did you for real refer your friend to get a loan with a guy who makes her pay 10% interest every week or month?

  6. #16
    RainyCoast
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    she knew the 10% went to you?

    because the original post says she thought you were just the postman. the interest rate is defined in the contract she signed with him. or do you have your name on the contract.

  7. #17
    HeartGoesOn
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    Ill gotten gain has a tendency to backfire. JMO...

  8. #18
    j.man
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    Quote Originally Posted by HeartGoesOn [Register to see the link]
    Ill gotten gain has a tendency to backfire. JMO...
    Sounds like it's all gain for her, actually. I can't imagine a friendship having any value to someone if they could look at their friend in debt only to ask themselves how they can make a penny off it.

    I'm seriously about to laugh the hardest I have in awhile if she's collecting on a 10% periodic interest rate and calling herself a friend. It's obvious she's not contemplating her friendship over a $4 missed interest payment.

  9. #19
    j.man
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    Also asking again how much she's paid total, including the interest.

  10. #20
    Ms Darcy
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    Quote Originally Posted by RainyCoast [Register to see the link]
    no, you didn't tell her because you wanted her to remain oblivious to the fact you were making profit off her.

    if you wanted to keep money and friendships separate, you would have let her conduct the business with the guy without you as the secret benefiting intermediary.

    and you're complaining she skipped a payment why? because it's dishonest?
    I agree. This is a real mess. I think that in the future, you shouldn't take over a friend's loan.

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