Lending Small amount of cash to friends
Discussion
Hainey said:
teapea said:
Hainey said:
I agree and those things amaze the living hell out of me.
Its basically the bank saying 'no way in a million f
king years would we give that deadbeat a penny, but tell you what, you be a complete and utter mug and YOU take all the risk for this clown and meanwhile WE take all the profit and if it goes south, which lets face it it will, we get to buttfk YOU dry for the exorbitant amount of cash interest while he smiles and goes about his mismanaged life with a smile.
Great deal huh? For us obviously. For you its a 5 year stress and worry sentence. Now sign here you mug'
Is how I hear the speil when those adverts come on.
Exactly, amigo loans don't even give the money to the person, so if I be a guarantor for a friends loan, they pay me the money then i have to then transfer the money to my friend,Its basically the bank saying 'no way in a million f
king years would we give that deadbeat a penny, but tell you what, you be a complete and utter mug and YOU take all the risk for this clown and meanwhile WE take all the profit and if it goes south, which lets face it it will, we get to buttfk YOU dry for the exorbitant amount of cash interest while he smiles and goes about his mismanaged life with a smile.Great deal huh? For us obviously. For you its a 5 year stress and worry sentence. Now sign here you mug'
Is how I hear the speil when those adverts come on.
he then pays them back, but then if he doesn’t pay, they take it off me, I have an immaculate credit history and lots of assets so they're guaranteed to get their money back, and they check that before they lend the money, you need a homeowner with good credit history.
And they get to charge an insane interest rate so, it's win win for them, they must be making a killing.
exactly. Nailed it in one my friend.In essence their business model is lending money at sky high interest rates to people whose credit history would see them access funding if they wanted it at a tenth of their supplied rate. For example I bank with HSBC and they will do me a loan for 3.something percent just now if I wanted one. Amigo would be ten times that.
Nice business if you can get it amigo. Poke it up your arse.
EG rate at say 30%, give 5% to the guarantor?
There's an interesting business model...
jshell said:
Banks being banks, really. They find ways to exploit anyone, in any way. Much as they are legitimate, they are truly horrible institutions who will sell your Granny for a few %.
However, everyone knows that, and we have no choice but deal with them.
Nearly all the high street banks i know of don't offer guarantor loans as they are seen as a pretty poor way to prey on the vulnerable. The likes of Amigo loans etc. can just get away with it though without being villainised to the same degree. However, everyone knows that, and we have no choice but deal with them.
In this country i would say that the retail banks are pretty fair (well they are now, i know the same couldn't be said a decade ago), the FCA really needs to come down hard on shady operations who target the vulnerable for easy money and limited risk.
Well lube me up and fk me sideways ... logged into my banking app this morning and low and behold she has paid up, found myself a couple of grand richer ... checking out her twitter feed and it looks like she has come into some money somewhere and took her new BF to what is portrayed as a spur of the minute London trip incl late night oxford street shopping and a box at the boxing the other night ... so either she has convinced some mug to go guarantor and is just blowing it (likely) or some fool has left her some cash and she is (again) just blowing it!
Either way I'm sorted and a happy chappie!! Makes my bank holiday Disneyland trip free for us essentially! Happy days!!
Lesson well and truly learned!
k me sideways ... logged into my banking app this morning and low and behold she has paid up, found myself a couple of grand richer ... checking out her twitter feed and it looks like she has come into some money somewhere and took her new BF to what is portrayed as a spur of the minute London trip incl late night oxford street shopping and a box at the boxing the other night ... so either she has convinced some mug to go guarantor and is just blowing it (likely) or some fool has left her some cash and she is (again) just blowing it!Either way I'm sorted and a happy chappie!! Makes my bank holiday Disneyland trip free for us essentially! Happy days!!
Lesson well and truly learned!
alorotom said:
Well lube me up and fk me sideways ... logged into my banking app this morning and low and behold she has paid up, found myself a couple of grand richer ... checking out her twitter feed and it looks like she has come into some money somewhere and took her new BF to what is portrayed as a spur of the minute London trip incl late night oxford street shopping and a box at the boxing the other night ... so either she has convinced some mug to go guarantor and is just blowing it (likely) or some fool has left her some cash and she is (again) just blowing it!
Either way I'm sorted and a happy chappie!! Makes my bank holiday Disneyland trip free for us essentially! Happy days!!
Lesson well and truly learned!
Now you need to sever all contact.k me sideways ... logged into my banking app this morning and low and behold she has paid up, found myself a couple of grand richer ... checking out her twitter feed and it looks like she has come into some money somewhere and took her new BF to what is portrayed as a spur of the minute London trip incl late night oxford street shopping and a box at the boxing the other night ... so either she has convinced some mug to go guarantor and is just blowing it (likely) or some fool has left her some cash and she is (again) just blowing it!Either way I'm sorted and a happy chappie!! Makes my bank holiday Disneyland trip free for us essentially! Happy days!!
Lesson well and truly learned!
alorotom said:
Well lube me up and fk me sideways ... logged into my banking app this morning and low and behold she has paid up, found myself a couple of grand richer ... checking out her twitter feed and it looks like she has come into some money somewhere and took her new BF to what is portrayed as a spur of the minute London trip incl late night oxford street shopping and a box at the boxing the other night ... so either she has convinced some mug to go guarantor and is just blowing it (likely) or some fool has left her some cash and she is (again) just blowing it!
Either way I'm sorted and a happy chappie!! Makes my bank holiday Disneyland trip free for us essentially! Happy days!!
Lesson well and truly learned!
A box at the boxing!? That's some serious coin there. Any other indications as to how and when she's come into money? Ironically I guess it's her new fella who's coming into money nightly now hahak me sideways ... logged into my banking app this morning and low and behold she has paid up, found myself a couple of grand richer ... checking out her twitter feed and it looks like she has come into some money somewhere and took her new BF to what is portrayed as a spur of the minute London trip incl late night oxford street shopping and a box at the boxing the other night ... so either she has convinced some mug to go guarantor and is just blowing it (likely) or some fool has left her some cash and she is (again) just blowing it!Either way I'm sorted and a happy chappie!! Makes my bank holiday Disneyland trip free for us essentially! Happy days!!
Lesson well and truly learned!
Contact has been severed, sent her a receipt for settlement of the loan and in the email put I don't want any communication from her in the future.
Well good luck to the new BF ... no idea where this new found wealth has come from but I guarantee it won't last long, she'll be skint again imminently blowing money like she is
Well good luck to the new BF ... no idea where this new found wealth has come from but I guarantee it won't last long, she'll be skint again imminently blowing money like she is
HotJambalaya said:
anyone taken someone to small claims over loans? how did it go?
I'm debating doing it myself now, complicated by the fact that some transfers say loan and some dont and it was with my ex partner.
I sorted a small claims process for my MIL a few years ago now when a family friend who had borrowed about £6k for a new vehicle didn't pay a penny and started dodging calls etc...I'm debating doing it myself now, complicated by the fact that some transfers say loan and some dont and it was with my ex partner.
The paperwork was pretty simple, but the person in question here actually paid up in full when they received the initial documentation from the courts (guess they bricked it and got a loan from a 'normal source')
Dont remember it costing much to start the process (maybe £100-ish)
HotJambalaya said:
what sort of documentation did you have?
Very little, there was bank statements showing the transfer of funds from the MIL to the recipient and screenprints of text messages around arranging payments, missed payments No kind of formal (or informal) loan agreement or payment schedule type stuff
I'd like to ask for some opinions here (given this thread).
Long story short my Girlfriend and I went on holiday together last year.
I didn't really want to go, so I didn't save up. My own fault. Which I have admitted to her so many times and also apologized profusely.
She paid for most of the trip (excluding spending money).
In total approximately £3k.
We agreed an amount to pay back (£200 per month)
And I said if I had anything left spare I would also pay that.
I would pay more back more quickly, but I have limited spare money as I pay 65% of the costs towards the house , and also pay for the new Lease car which she uses as she doesn't like her car.
This month: I paid her our agreement.
Her Bday is also close to Xmas and we aim to spend approx £150 on each event so £300, on top of that, a Christmas weekend trip in a couple of weeks need to be paid for. For the record I wouldn't care if she spent £15 on me as long as there was thought there.
So we had a short discussion, and she suggested doing her birthday gifts in January.
With it being Black Friday I bought myself something for £60 in the Amazon black Friday sale, as well as one of her Christmas presents (£90).
This Morning she told she was upset, and I asked why.
She said that it was because I had bought something for myself (at this point she didn't realise I had also bought her something).
I said well I've bought something for you as well, which also cost more, but not that it matters and she had no right to be upset with me spending something on myself.
She mentioned something about buying her a present for her Bday/Xmas and also paying her the extra on top of the £200 we agreed.
This caused a massive row.
I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
My GF seems to believe otherwise and that basically every single penny you should have spare should be given in addition to the agreed amount.
Lesson learnt - Never getting in debt to a Significant other ever again.
Long story short my Girlfriend and I went on holiday together last year.
I didn't really want to go, so I didn't save up. My own fault. Which I have admitted to her so many times and also apologized profusely.
She paid for most of the trip (excluding spending money).
In total approximately £3k.
We agreed an amount to pay back (£200 per month)
And I said if I had anything left spare I would also pay that.
I would pay more back more quickly, but I have limited spare money as I pay 65% of the costs towards the house , and also pay for the new Lease car which she uses as she doesn't like her car.
This month: I paid her our agreement.
Her Bday is also close to Xmas and we aim to spend approx £150 on each event so £300, on top of that, a Christmas weekend trip in a couple of weeks need to be paid for. For the record I wouldn't care if she spent £15 on me as long as there was thought there.
So we had a short discussion, and she suggested doing her birthday gifts in January.
With it being Black Friday I bought myself something for £60 in the Amazon black Friday sale, as well as one of her Christmas presents (£90).
This Morning she told she was upset, and I asked why.
She said that it was because I had bought something for myself (at this point she didn't realise I had also bought her something).
I said well I've bought something for you as well, which also cost more, but not that it matters and she had no right to be upset with me spending something on myself.
She mentioned something about buying her a present for her Bday/Xmas and also paying her the extra on top of the £200 we agreed.
This caused a massive row.
I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
My GF seems to believe otherwise and that basically every single penny you should have spare should be given in addition to the agreed amount.
Lesson learnt - Never getting in debt to a Significant other ever again.
xjay1337 said:
I'd like to ask for some opinions here (given this thread).
Long story short my Girlfriend and I went on holiday together last year.
I didn't really want to go, so I didn't save up. My own fault. Which I have admitted to her so many times and also apologized profusely.
She paid for most of the trip (excluding spending money).
In total approximately £3k.
We agreed an amount to pay back (£200 per month)
And I said if I had anything left spare I would also pay that.
I would pay more back more quickly, but I have limited spare money as I pay 65% of the costs towards the house , and also pay for the new Lease car which she uses as she doesn't like her car.
This month: I paid her our agreement.
Her Bday is also close to Xmas and we aim to spend approx £150 on each event so £300, on top of that, a Christmas weekend trip in a couple of weeks need to be paid for. For the record I wouldn't care if she spent £15 on me as long as there was thought there.
So we had a short discussion, and she suggested doing her birthday gifts in January.
With it being Black Friday I bought myself something for £60 in the Amazon black Friday sale, as well as one of her Christmas presents (£90).
This Morning she told she was upset, and I asked why.
She said that it was because I had bought something for myself (at this point she didn't realise I had also bought her something).
I said well I've bought something for you as well, which also cost more, but not that it matters and she had no right to be upset with me spending something on myself.
She mentioned something about buying her a present for her Bday/Xmas and also paying her the extra on top of the £200 we agreed.
This caused a massive row.
I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
My GF seems to believe otherwise and that basically every single penny you should have spare should be given in addition to the agreed amount.
Lesson learnt - Never getting in debt to a Significant other ever again.
Remind her you’re in it for the long haul, and once you’ve got a couple of kids you’ll have to work overtime so she can spend over £200 per month in Costa with the other mums. You might as well get it out now, it’s not a conversation you want to be having once she’s doing it. Long story short my Girlfriend and I went on holiday together last year.
I didn't really want to go, so I didn't save up. My own fault. Which I have admitted to her so many times and also apologized profusely.
She paid for most of the trip (excluding spending money).
In total approximately £3k.
We agreed an amount to pay back (£200 per month)
And I said if I had anything left spare I would also pay that.
I would pay more back more quickly, but I have limited spare money as I pay 65% of the costs towards the house , and also pay for the new Lease car which she uses as she doesn't like her car.
This month: I paid her our agreement.
Her Bday is also close to Xmas and we aim to spend approx £150 on each event so £300, on top of that, a Christmas weekend trip in a couple of weeks need to be paid for. For the record I wouldn't care if she spent £15 on me as long as there was thought there.
So we had a short discussion, and she suggested doing her birthday gifts in January.
With it being Black Friday I bought myself something for £60 in the Amazon black Friday sale, as well as one of her Christmas presents (£90).
This Morning she told she was upset, and I asked why.
She said that it was because I had bought something for myself (at this point she didn't realise I had also bought her something).
I said well I've bought something for you as well, which also cost more, but not that it matters and she had no right to be upset with me spending something on myself.
She mentioned something about buying her a present for her Bday/Xmas and also paying her the extra on top of the £200 we agreed.
This caused a massive row.
I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
My GF seems to believe otherwise and that basically every single penny you should have spare should be given in addition to the agreed amount.
Lesson learnt - Never getting in debt to a Significant other ever again.
bristolbaron said:
Remind her you’re in it for the long haul, and once you’ve got a couple of kids you’ll have to work overtime so she can spend over £200 per month in Costa with the other mums. You might as well get it out now, it’s not a conversation you want to be having once she’s doing it.
There speaks a man with experience
xjay1337 said:
And I said if I had anything left spare I would also pay that.
I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
You have basically promised her one thing and gone and done another so she has a right to be pissed off imo. I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
Nickp82 said:
xjay1337 said:
And I said if I had anything left spare I would also pay that.
I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
You have basically promised her one thing and gone and done another so she has a right to be pissed off imo. I don't believe that if you are paying the agreed amount of repayment, that you should not be allowed to make some small token purchases for yourself.
Kind of like with a credit card you have a "minimum" payment and you can pay extra if you want.
That seems pretty toxic to me, and a sure fire way to drive yourself crazy. But maybe I am in the wrong here then. If it was lots of things I'd understand, but it was literally one thing and I haven't bought myself anything for a while. Item I purchased was 47% off normal price.
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