My dad says he has a few bills to pay and can't take out a loan because my he's currently going through a divorce. He initially for asked $1,000 but I offered only $700. He says he'll pay it back with interest within 14 days, but I guarantee that every person who has never paid someone back has always *said* they'll pay someone back. Is there any way I can get a guarantee that he would pay it back? Is there some legal method of doing this?
2007-01-01 17:49:02 · 12 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Being how close i am with my dad.. if he asked for the money.. i would gladly give it to him.. wether he can pay it back or not.
we support eachother
2007-01-01 17:57:13 · answer #1 · answered by nola_cajun 6 · 0⤊ 0⤋
I wouldn't lend him money. If he is working, he can go and get a payday loan and the interest will probably be less for him anyway.
It's never a good idea to lend anyone money including a relative. This could cause a great deal of problems in your relationship if he does not pay you back.
2007-01-02 03:14:15 · answer #2 · answered by frr_ls 2 · 0⤊ 0⤋
Don't do it! Do you really want to haul you Dad into court if he reneges?
Go ahead and loan him the money if you want, but do it with the expectation that you won't get it back. If he pays you back, then great. If not, then just consider it a gift and never mention it again.
2007-01-02 02:04:26 · answer #3 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
Have him sign a promissary note. Then if he doesn't pay you back you can take him to small claims court for the loan plus any court costs
2007-01-02 01:52:46 · answer #4 · answered by micg 4 · 0⤊ 0⤋
I would write down on a piece of paper and would have him sign it. Then when he says he dint remember get it out and have him look at it but also have a witness sign the piece of paper, so if your dad says he don't remember have that witness come over and say I remember that.
2007-01-02 02:17:44 · answer #5 · answered by sam 1 · 0⤊ 0⤋
Have him sign a contract right in front of a lawyer or your neighbours. Then if he doesn't pay you back, bring him to court.
2007-01-02 01:59:42 · answer #6 · answered by Unazaki 4 · 0⤊ 0⤋
Gosh your a tight wad its your father he has given you more than 1000 worth of love over the years
2007-01-02 04:11:27 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You could have him sign a promice note.....but doing that, you wold have to be willing to take Dad to small claims court......and most people won't actually do that.
2007-01-02 01:53:16 · answer #8 · answered by catywhumpass 5 · 0⤊ 0⤋
have him sign a promissory note and in the note put some wording in to say "this note can not be discharged" that way he can't file bankruptcy on you
2007-01-02 02:06:05 · answer #9 · answered by hairpoor 2 · 0⤊ 0⤋
Get it in writing. This includes how much,when it will be paid and how much interest.Have him sign it and date it
2007-01-02 01:55:01 · answer #10 · answered by lance 2 · 0⤊ 0⤋