He needed the money to pay a hotel stay after the airline lost his luggage. I lended him $300 cash depositing in his checking account. It's been 3 weeks since the date proposed by him to pay back and doesn't keep me posted of what's happening or reply my calls. Now I really need that money, I'm really squeezing my dimes to pay some bills and keep up with everyday expenses. Really feel stupid thinking that there's honest people and thinking about beign a "good" person.
Is there a way to get it back through his bank? is there a way at all. How can I report this to get my money back.
2007-09-25 02:23:24 · 7 answers · asked by head_blown_apart 2 in Business & Finance ➔ Personal Finance
I've had people do this to me as well. Some have paid me back eventually others never have. Knowing they are avoiding you is the biggest slap in the face. I'd have been happy if they'd just been honest.
My father has always said if you can't afford never to see it again, don't lend money. I now follow that advise. You'll probably get advise to take your friend to small claims court but I think it is hardly worth the effort. Chalk it up to a life lesson and move on. Sorry you had to learn the hard way.
2007-09-25 02:32:27 · answer #1 · answered by Choqs 6 · 0⤊ 0⤋
I think many of us have been through this before. There are 3 solutions:
1. Give him more time while gently reminding him how much you could use that money and asking when to expect it.
2. Strong arm him and don't let up. Call several times a day to check on the status of your money. Stop by in person (not threatening) but definitley let him know you want your money back now.
3. And most likely the outcome: chalk it up to good intentions with a predictable outcome.
Or take him to small claims court--which you will need a written contract or have someone testify with first hand knowledge that this was a loan not a gift.
Good luck and remember if you want to lose a friend lend them money. If they are a great friend, just give them the money and forget about it.
Good luck!
2007-09-25 09:40:39 · answer #2 · answered by road08 2 · 0⤊ 0⤋
Unfortunately, you cannot go through his bank to get the money back. It is his bank account and you need his consent. I learned not to lend money I could not afford to lose. Often times when you lend money you won't get it back. Your best bet is if you have a credit card get a cash advance to help pay for some of your bills. Let it go and next time do not lend money you cannot afford to lose. Harassing him with calls is not going to get your money back.
2007-09-25 09:36:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The only way to get the money back is to take him to small claims court. You should send in your story to one of the TV court shows. Most of them pay you to go on the show so you can get your money back from your friend and get a little extra.
2007-09-25 09:29:13 · answer #4 · answered by Kennetha W 2 · 0⤊ 0⤋
Consider this a learning experience. Don't ever loan another person money that you can't afford to lose unless they have signed a repayment agreement and given you a copy.
Maybe you can write off your taxes as a loss?
2007-09-25 10:05:57 · answer #5 · answered by Theresa 6 · 0⤊ 0⤋
Talk to him about and try to work out a simple payment plan. If that doesn't work, exchange an asset for the loan. Then sell the asset. Or simply move on and forgive the debt. Is it worth the friendship????
2007-09-26 00:10:19 · answer #6 · answered by Milton W 2 · 0⤊ 0⤋
I am sorry to say that your money is lost and there is no chance of you getting it back. My frined did to me and it cost me 200,000+ now he's not able to pay me back. Who needs friends like that?
I learnt my lesson at a huge cost.
BUT I WILL SURVIVE AND SO WILL YOU.
2007-09-25 11:12:45 · answer #7 · answered by Ali K 4 · 0⤊ 0⤋