Richard Lewis16 said:tough spot
legally speaking, if your guy just handed over $xy in cash to a buddy
unless they actually sat down and signed a formal loan agreement, he isn't technically obligated to pay a dime back, and honestly, he’s going to have a hell of a time proving in court that it was ever meant to be a loan at all
he could easily just claim it was a gift...
or he could just play dumb
but something else about this whole thing feels off to me, you mentioned he was handing over $700 at a time$267, but now it turns out he only paid back $10,000 total
if he really had been giving $700 installments, there should have been at least 33 of them$200
The numbers haven't always been static, nor am I privy to every single detail.
To be perfectly candid, I know my husband kept his own records in a little notebook—dated entries and all.
I haven't even mentioned half of this because I don't have the specifics and frankly, I have no desire to dive into them.
I used $700-$267 merely as an example, since that’s what he handed over a few times when I asked him just to get a sense of our household budget for the following month.
I’ve tried—or rather, I’ve been trying—not to make a fuss about the whole situation because my husband is... well, to put it bluntly, he’s a sweetheart, but he can be incredibly naive regarding these matters.
Essentially, he lent money to a friend yet again (one tearful instance, if I'm being honest) and now this person has nothing to pay back and keeps stalling on when they will—though they try to chip in at least $33 a month, despite us both knowing they simply don't have it.
But I finally hit my limit and told him quite plainly to tell me what the actual debt is, and his answer was $40,000.
Which makes sense, given that the loan he took out to cover this specific debt was $50,000.
Furthermore, I haven't read the rest of the posts yet; I'll get to that. For now, I am simply seeking perspective and advice.
I don't want to play fast and loose with exact figures—for all I know, the debt could be $39,900 or it could be $40,200.
In truth, knowing my husband, he might just be sugarcoating things to keep me from worrying, but what I know for certain is that the man hasn't paid back a single cent since December 2009.
I will save the precise accounting for when everything truly needs to be laid bare.
If that ever actually happens.
I suppose this was just my own late-night attempt at bluffing my way into some advice at 3:00 AM.
EDIT:
And no, even my husband says it isn't in his interest to have this guy pay him back immediately (perhaps the man genuinely doesn't have it) and he isn't even concerned about getting every last penny back.
If he pays back $20,000 in today's economy, that's quite a lot.
What bothers me most—and really, it's the only thing that bothers me—isn't whether the man has the funds or if the debt should be reduced or forgiven; it's the fact that someone is stringing you along with "soon, next month, tomorrow," and so on, for over a year.
Just say "I don't have it" and we can figure something out, but don't treat a former friend like an idiot.