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Old 27 January 2016, 07:13 AM   #1
ronin_ph
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Loans

An old friend who I haven't seen in many years reached out to me about 6-months ago and asked if he could talk to me (the wonder of Facebook).

In short, he needed a loan. I figure I was an easy person to ask to avoid asking someone in our circle of friends locally. I now live in a different city.

I wired the funds and he needed a bit more so i sent another sum. It's not a huge sum of money. Nonetheless, I believe in people keeping their promises. Therefore, I allowed him to set the payback date. The date, December 15 came and went so I followed up with my account details. He became hugely belligerent about how I lack compassion and how if I was a real friend I'd understand he's going through a hard time.

Left him alone during holidays. Even sent gifts to his kids (didn't get a thank you either). Let it go for about another month and just followed up with him. He told me to f*** off.

What would you do?


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Old 27 January 2016, 07:16 AM   #2
GradyPhilpott
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Chalk it up to charity and move on.

In the long haul, it's probably the cheapest way to find out the true nature of your "friend."
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Old 27 January 2016, 07:18 AM   #3
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I would send a certified letter from my lawyer and say see you in small claims court.
I also wouldn't loan money to friends that I would ever expect to get back. If I did get it back that would be an added bonus.

I also wouldn't loan any money to a "friend" who I haven't seen or heard from in years.
I hope you get your money back but it sounds like this guy is a Dbag.
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Old 27 January 2016, 07:20 AM   #4
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Quote:
Originally Posted by GradyPhilpott View Post
Chalk it up to charity and move on.

In the long haul, it's probably the cheapest way to find out the true nature of your "friend."

Agreed

Loaning money to friends, is a good way to get less friends and less money.

In my opinion you should have written it off the day you decided to give it to him.
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Old 27 January 2016, 07:21 AM   #5
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Sorry to hear of this. If I were in your situation, I'd hope for the best, but expect the worst. Based on the reactions you're now getting from him, you should consider your money unrecoverable.
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Old 27 January 2016, 07:23 AM   #6
kilyung
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Write it off as a lesson learned... and as a lost friend.
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Old 27 January 2016, 07:27 AM   #7
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Yeah it's long gone. Sorry you were too kind to say no. Don't make repeat steps.
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Old 27 January 2016, 07:28 AM   #8
TheRolexKingofLV
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My dad used to say" If you want to get rid of somebody, lend them money!"....I'm sorry about your situation. Write it off as charity, and hopefully you helped his kids out with the money that was lent. Look at it like that...
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Old 27 January 2016, 07:29 AM   #9
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Eh for the amount of money you loaned him he's out of your life forever. Take the loss and move on.
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Old 27 January 2016, 07:29 AM   #10
TheBluePrince
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It was gone the day you lent it.

A lender not a borrower be.
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Old 27 January 2016, 07:37 AM   #11
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That's exactly why I don't loan money. Like others have said, chalk it up to lesson learned.
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Old 27 January 2016, 07:40 AM   #12
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Write it off and move on. Lesson learned.
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Old 27 January 2016, 07:52 AM   #13
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Taking a small loss in some cases are worth it. With people like that, there will be a day that they need even more help. You come out ahead here.
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Old 27 January 2016, 07:59 AM   #14
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How much money are we talking about?
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Old 27 January 2016, 08:05 AM   #15
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Both Holly and I have been in this situation, live and learn. Sorry about the lost funds, the school of hard knocks can be a hard teacher but her lessons are usually burned into your memory for ever.
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Old 27 January 2016, 08:09 AM   #16
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Post it up to his friends on Facebook, anytime you out someone on social media it may help the next victim.
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Old 27 January 2016, 08:09 AM   #17
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Quote:
Originally Posted by kilyung View Post
Write it off as a lesson learned... and as a lost friend.
Here it is.
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Old 27 January 2016, 08:14 AM   #18
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Quote:
Originally Posted by ronin_ph View Post
An old friend who I haven't seen in many years reached out to me about 6-months ago and asked if he could talk to me (the wonder of Facebook).

In short, he needed a loan. I figure I was an easy person to ask to avoid asking someone in our circle of friends locally. I now live in a different city.

I wired the funds and he needed a bit more so i sent another sum. It's not a huge sum of money. Nonetheless, I believe in people keeping their promises. Therefore, I allowed him to set the payback date. The date, December 15 came and went so I followed up with my account details. He became hugely belligerent about how I lack compassion and how if I was a real friend I'd understand he's going through a hard time.

Left him alone during holidays. Even sent gifts to his kids (didn't get a thank you either). Let it go for about another month and just followed up with him. He told me to f*** off.

What would you do?


Sent from my iPhone using Tapatalk

Doesn't sound like a very good friend to me. You could cave his skull in, but that would put you in a bind. I'd just chalk it up to a loss and move on. Maybe if you two cross paths, have a stern talk...
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Old 27 January 2016, 08:27 AM   #19
axjimenez
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Walk away. Not an ideal situation but with the follow up reaction you got the only thing that will happen next is escalation. Money to friends is always a dangerous game.
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Old 27 January 2016, 08:29 AM   #20
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I was always taught, if you lend money to friends and family, do it being prepared that you will never see it. Do it like your giving not lending, this way when you do get it back, it's a bonus and if not your mind and soul are at ease.
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Old 27 January 2016, 08:36 AM   #21
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Unless you have a promissory note, you're SOL. Chalk it up to experience.
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Old 27 January 2016, 08:40 AM   #22
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Quote:
Originally Posted by TheBluePrince View Post
It was gone the day you lent it.

A lender not a borrower be.
Sorry just in case you were quoting the Bard the actual quote is "neither a borrower nor a lender be"

If you weren't quoting him I apologize!
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Old 27 January 2016, 08:49 AM   #23
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I guess I go against the grain. Screw charity. This guy knew it was a loan, knew he had to pay it back, and even determined the pay back date. He had no intentions from the start to pay it back. It was a calculated move from the beginning. Have your lawyer send him your intentions.
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Old 27 January 2016, 08:56 AM   #24
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I guess I go against the grain. Screw charity. This guy knew it was a loan, knew he had to pay it back, and even determined the pay back date. He had no intentions from the start to pay it back. It was a calculated move from the beginning. Have your lawyer send him your intentions.
Any lawyer worth his/her salt would give the same advice as most here, kiss it off.

I understand the instinct to grind this guy a little, but there are clear issue here and only the OP knows the real deal. Is it worth the aggravation or not, 9 times out of 10 I would say no, but if there are details we aren't privy to and the OP wants to act on them he's totally within his rights. Only he can know that, and only he can act. A lawyer will solve very little here IMHO, but I do like the idea of a face to face meeting. The borrower needs to feel a little uncomfortable perhaps?
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Old 27 January 2016, 09:09 AM   #25
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hey Moose, Rocko, help the judge find his checkbook....
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Old 27 January 2016, 09:57 AM   #26
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If you lend money to friends or family, you do so with the understanding that it may never come back.
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Old 27 January 2016, 10:01 AM   #27
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live and learn, write it off!
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Old 27 January 2016, 10:31 AM   #28
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I had a very good buddy ask for money.

During college years we were inseparable. The best of friends.

He turned to drugs and I turned to hard work and responsibility.

He asked me for money. I gave him $1,500.

He asked for another thousand a few weeks later. I told him no. The $1,500 was not a loan. It was a gift. But I would not go further than that. He understood and thanked me.

Personally, I would mostly me upset with how he responded. Instead of being humble and apologetic, he was rude and obnoxious.

I'd send a note and tell him: "no worries, keep the money. Best of luck to you, but don't ever reach out again".

At least this way, you get closure on your terms.

Either way, the money is not coming back. You might as well end it your way.
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Old 27 January 2016, 10:41 AM   #29
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Sorry you've had a (former) friend let you down. No good deed goes unpunished.
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Old 27 January 2016, 12:44 PM   #30
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If you lend money to friends or family, you do so with the understanding that it may never come back.
Just re-stating the obvious as others have already....Unfortunately your long lost "friend" used you. Most of us have had this happen at some point with a friend or family member. We helped a cousin of my wife recently and of course she paid about 5% back before she changed her phone, e-mail and disappeared. We expected as much.

Write it off and let karma give him his dues. If you want to get it out of your system, out him on facebook just to be annoying and move on.
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