How much to ask a friend to repay?

Status
Not open for further replies.
I think if I had borrowed money from a friend or family member, (as I have done) in a time of need, that when I were in a position to repay I would like to repay the capital sum with some form of recognition.

I don't think that I could just repay the capital. I think that would be really mean.

I would give a gift - not necessarily money.

Marion
 
oysterman said:
Are you a registered moneylender?

Do you have the required licence to charge interest legally?

How would you calculate and go about discharging the tax liability?
Click to expand...

Are you for real?
 
You could have ruined the friendship by not giving them the money in the first place. If people are going to fall out about a small bit of interest either way, they are not true friends IMHO.
 
It is worth noting that the interest foregone to date by the original posters comment is over €500 (using an average 3% return as suggested above) - must be a good mate all the same. I have loaned money in the past to friends, never for gain myself, but generally for smaller amounts though. I do think that loaning to friends puts a strain on the relationship. If I was put in that position, I think I would ask if I could Guarantor the loan at a financial institution.
 
Coming in late to this...

Corolla, you mentioned that you think you should be entitled to some of your friend's gain because, without your money, he would have had to make different choices about his property.

However, you just gave this guy a loan of money, you did not co-invest in his venture - if he had lost money on his land transaction, would you reduce the amount you wanted him to repay? It sounds to me that you actually want more than "interest" - you want a cut of his pie.

It's like loaning someone a tenner to bet on a horse that comes in at 100/1. The person you loaned the money to may give you extra back as a thank you, but it would definitely be churlish to ask for it as of right.

Just be happy that your friend has made some money out of his property and be glad that you were in a position to help him do so.

Sprite
 
Good on you, WS!

You've hit the nail on the head - lending to a friend and then expecting to profit from the gesture is atrocious.

I made the point somewhat more obliquely and in a much less articulate way earlier in this thread and got my a**e kicked


Lending to a friend ought to be a selfless gesture.
 
No point letting this thread continue, oysterman-you made your point already, I don't see the need to repeat yourself, eveyone is entitled to their own view.

Thread locked.
 
Status
Not open for further replies.
Menu
Log in
Register