My boyfriend was loaned some money by his brother 11 years ago.--right after his wife and oldest child were killed in an accident. Now, after all of those bills associated with the accident have been paid off, he is in a position to pay back the $200 to his brother. It was never identified as an official "loan", but he still desires to pay the money back. How much would you think would be a good amount to pay back--assuming you were the loaner?
2006-09-22 08:55:38 · 13 answers · asked by rebeccalynnrocks 3 in Society & Culture ➔ Etiquette
11 years is a LONG time to pay back $200. Since it was a loan by a family member and it's been that long, I imagine the brother doesn't anticipate repayment.
If he wants to do so just to show good faith, $200 is sufficient perhaps along with a useful gift.
Otherwise, it should at least be $500, if not more.
2006-09-22 09:02:33 · answer #1 · answered by stimply 5 · 1⤊ 0⤋
If his brother is in a position of financial need, calculate a 5% interest over the 11 years and add it to the loan and pay him $310.
If his brother isn't in need, and it's just about the principle, paying back $200 should be fine. It shows he is thankful and remembered how his brother helped him.
2006-09-22 09:05:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Given the situation, if your boyfriend feels that he needs to repay this debt, he should pay the original amount, and send payment with a nice card explaining how much his brother's support meant to him during such a difficult time in life. I don't believe he needs to bother with calculating "interest," if no payment terms were negotiated at the time. However, if he wanted to do something more, perhaps a nice gift certificate to a restaurant or make plans to treat his brother to a nice evening would be in order.
2006-09-22 10:06:46 · answer #3 · answered by JenV 6 · 0⤊ 0⤋
If the loan was just $200 and your BF has the money, he should pay him all of it back ASAP. 11 years is way too long to not pay back a loan.
2006-09-22 09:05:03 · answer #4 · answered by KathyS 7 · 0⤊ 0⤋
If your B/F really needs the money now tell him to talk to his brother. Family should be their for each other. Just don't let money come between family. If the bother can pay it back now and his bother needs it now he should. I think this can be resolved if they are straight forward and honest with each other. If he wont ask his brother he doesn't have the right to sulk or get mad. Handle it like adults and be their for each other.
2006-09-22 10:00:14 · answer #5 · answered by purrfectsandcastle 3 · 0⤊ 0⤋
$200 in 11 years!! Pay $200 plus a nice gift.
2006-09-22 09:04:33 · answer #6 · answered by flirpityflirp 3 · 0⤊ 0⤋
$200. There was no interest attached, right? And this is family... not an impersonal bank. And it is only $200, after all.
Pay back the principal, don't insult by adding interest, and say or write a THANK YOU.
2006-09-22 09:02:17 · answer #7 · answered by andalucia 3 · 2⤊ 0⤋
i would pay back the 200 dollars and leave it as that,,say thank you and sorry for the misunderstanding,, because no matter how well u r doing now,, u never know how it would be a month from now r a year from now,,and he might need him again
2006-09-22 09:03:24 · answer #8 · answered by Sweetpea 3 · 0⤊ 0⤋
I think that if I were in this situation, I would offer all the money to him, but, If I was the Loaner, I believe that I would tell him not to worry about it, considering the reason for borrowing it.
2006-09-22 08:59:57 · answer #9 · answered by Heather R 2 · 1⤊ 1⤋
Hi there....If I were financially able to, I probably wouldn't ask for any money back, but if my brother wanted to, I would accept payments for the amount equal to what he borrowed....whatever he was able to afford, even if it was just $5 a month. =)
2006-09-22 09:06:38 · answer #10 · answered by aloneinga 5 · 0⤊ 0⤋