Ask For Advice
Page 2 of 6 FirstFirst 12345 ... LastLast
Results 11 to 20 of 55

Thread: Have you ever loaned money to a friend?

  1. #11
    RainyCoast
    Platinum Member RainyCoast's Avatar
    Join Date
    Nov 2013
    Posts
    4,178
    Thanked
    3315
    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
    Platinum Member j.man's Avatar
    Join Date
    Jul 2008
    Posts
    8,066
    Thanked
    9768
    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. Thanks Batya33, Applewhite thanked for this post
  4. #13
    Hollyj
    Platinum Member
    Join Date
    Dec 2007
    Posts
    12,661
    Thanked
    5770
    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 02:36 PM.

  5. Thanks j.man thanked for this post
  6. #14
    force
    Silver Member force's Avatar
    Join Date
    Nov 2008
    Posts
    360
    Gender
    Female
    Thanked
    35
    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.

  7. #15
    j.man
    Platinum Member j.man's Avatar
    Join Date
    Jul 2008
    Posts
    8,066
    Thanked
    9768
    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?

  8. Thanks RainyCoast thanked for this post
  9. #16
    RainyCoast
    Platinum Member RainyCoast's Avatar
    Join Date
    Nov 2013
    Posts
    4,178
    Thanked
    3315
    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.

  10. #17
    HeartGoesOn
    Super Moderator HeartGoesOn's Avatar
    Join Date
    Jan 2007
    Location
    Massachusetts
    Posts
    15,839
    Gender
    Female
    Thanked
    4120
    Ill gotten gain has a tendency to backfire. JMO...

  11. Thanks RainyCoast, Hollyj, j.man, Ms Darcy thanked for this post
  12. #18
    j.man
    Platinum Member j.man's Avatar
    Join Date
    Jul 2008
    Posts
    8,066
    Thanked
    9768
    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.

  13. Thanks Hollyj, RainyCoast, HeartGoesOn thanked for this post
  14. #19
    j.man
    Platinum Member j.man's Avatar
    Join Date
    Jul 2008
    Posts
    8,066
    Thanked
    9768
    Also asking again how much she's paid total, including the interest.

  15. #20
    Ms Darcy
    Platinum Member Ms Darcy's Avatar
    Join Date
    Jan 2009
    Location
    United States
    Age
    36
    Posts
    31,754
    Gender
    Female
    Thanked
    6231
    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.

  16.  

Page 2 of 6 FirstFirst 12345 ... LastLast
Top Threads
Returning to college at age THIRTY-EIGHT
I'm very nervous about returning to school in brick and mortar reason for a number of reasons. [LIST] [*]I'm 38 years old [*]I'm recently
Please help
Hi. I don't know exactly what to write so I'll just toss it all out there and make it quick. My life is in shambles, I'm a very happy person and

Expert Advice
Featured Threads
Heard my ex-boyfriend having sex
Please please please help me. Tonight I heard my ex boyfriend having sex with another woman and I'm totally gutted and sick inside. Unfortunately
Advice married man
I am 38 yrs old 2 kids ( 8 and 17) I was in a relationship with my ex for 21 years and things ended. Fast forward 6 months I met a wonderful man who
I have an experiment on how to attact
I often hear lately that women and men want the exact same things and are attracted to the exact same things. I don't believe this one bit, so I
My boyfriend said I have nothing to offer?
He told me I have nothing to offer other than sex. He called me a nobody even though I am going to school and have a part time job. What does he mean
What do I do HELP.
Ive dated this girl for just over two years our relationship started off great. We were in love and I could see myself marrying this girl. A few
5 years later with silent treatment
I am 44 yr old woman with someone 6yrs younger. I was taken to an emergency hospital 2 weeks ago with suspected stroke..he left me at the door of
Help... I'm driving myself crazy.
So my ex and I have been broken up for 4 months. We have had no contact in four months. He blocked me on Facebook immediately after the breakup. Last
Ask For Advice

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •