I loaned a inlaw money in the summer of 06. At the time I loaned the money the in law agreed to start paying back in Aug 06, never happened. In Oct 06 she stated she was going to start paying us back....has not happened. Since Oct 06 she has not spoken to us about it. What should I do? I don't want to do anything legally, it is an inlaw.....but I want my money back...at least payments on a monthly basis. My husband feels his family used us. We have bills and have been tight on a budget, because we loaned away our savings.
2007-03-03 10:30:54 · 5 answers · asked by tonya l 2 in Business & Finance ➔ Credit
the first lesson has been learned never lend money to family!
How about you and the hubby go to teh In law and say that you have been more than fair and want to set up payment arrangement that fit into the IL's budget...even if its $50 a month...something is more than nothing.
2007-03-07 06:02:54 · answer #1 · answered by *G* 3 · 0⤊ 0⤋
I would suggest from now on not loaning out money that you need or that you expect back. It does not look like you will be getting your money back and if you do you may loose the relationship with your in laws. You need to decide which is more important the money or the relationship.
2007-03-03 18:39:47 · answer #2 · answered by Anonymous · 2⤊ 0⤋
Just say to her I wondering when you going to pay back the money I loaned you I need it to pay bills or what ever if you don,t get then its time to play hard ball taking her to small cliams court thats going cause a rift between your In - laws and your husband good luck
2007-03-03 21:32:53 · answer #3 · answered by pattibcacl 6 · 0⤊ 0⤋
First, never loan money to relatives. Second, never loan money to anyone without a signed written agreement. Technically, the loan is enforceable in court. Your problem is, without a written agreement and no history of repayments, you can't prove there was a loan. Even if you have a canceled check, they will probably claim it was a gift. Based on you question, I doubt you can prove otherwise. Even if you could prove your case in court, if you don't want to sue, you can't do anything.
2007-03-03 21:14:54 · answer #4 · answered by STEVEN F 7 · 0⤊ 1⤋
try explaining it to them that you are in desperate need of this money, you can even get angry and yell bc its ur right to get it back, they should know better that if they could not pay you back by now, that they should have said it in the agreement back in the summer of 06
2007-03-03 18:40:43 · answer #5 · answered by maverick 3 · 0⤊ 0⤋