i think God's Garbage or Hell's Angles only charge 10-15% commission on collections....
My friends in massive credit card debt
- Thread starter qaz
- Start date
I'm guessing the $100 per week only started very recently, or you would have mentioned it before Qaz. That's too little too late, it would take just over four years to pay you back, and that's with 0% interest... I wonder how many more emergencies will come along, where he needs to make a redraw from QAZ? I just realised, you even sound like a bank! Can I have some of this interest free money? 
I agree with this - remind him often. Phone calls and email are ok, but face to face would be better, at least a couple of times a week.
I agree with this - remind him often. Phone calls and email are ok, but face to face would be better, at least a couple of times a week.
why the hell is he borrowing for anything - including a wedding. he's bringing home $2,000/wk net ... for a single guy.
even if the car was a couple a hundred a week and the rent was an outreagous $500/pw and the tv was some silly $100/pw and he ate out a lot at $300/pw - he'd still have just under $1000 per week to play with.
if he saved for a mere 3 months from his leftover money he'd have the money for the wedding in hand.
even if the car was a couple a hundred a week and the rent was an outreagous $500/pw and the tv was some silly $100/pw and he ate out a lot at $300/pw - he'd still have just under $1000 per week to play with.
if he saved for a mere 3 months from his leftover money he'd have the money for the wedding in hand.
I'm guessing the $100 per week only started very recently, or you would have mentioned it before Qaz. That's too little too late, it would take just over four years to pay you back, and that's with 0% interest... I wonder how many more emergencies will come along, where he needs to make a redraw from QAZ? I just realised, you even sound like a bank! Can I have some of this interest free money?
He's been paying $100 a week since the start but he borrowed another $2,000 off me during the period and on balance is going backwards financially when you count what he paid me and his credit card debts.
I'm not gonna share the back and forth emails, but I will say the friendship is probably over. I asked him to refinance the debt and pay me out first before borrowing any more for his wedding. His resisting even though it is my money and something I did out of love.
I can only now really just hope to sit down and work out a legally binding payment plan agreement that will get my money back in 2-3 years with interest. He's showed his cards now, his not prepared to put me above the money the way I did when I lent it to him and i've simply lost faith that he will do what he has to do to get himself out of this financial mess his in.
My feeling is that you might not see your money again...... I think when you loan money to friends, you have to be prepared for that outcome. If I were you, I'd prepare myself emotionally. Otherwise, you'll get bitter and suffer even more.
It does sound like he is not really trying to get out of debt. He sounds like he is trying to "keep up with the Joneses". I could imagine that he probably drives a very expensive car, and is probably paying off over $500/wk. (I'm paying 350 on my car per week on a CHP, with minimal balloon over 3 years for 50K car.).
If he has a high powered job, he probably feels he has to have all the bells and whistles, both in terms of possessions and wedding.
Difficult situation....... I hope you are able to resolve it without too much pain,
Pen
It does sound like he is not really trying to get out of debt. He sounds like he is trying to "keep up with the Joneses". I could imagine that he probably drives a very expensive car, and is probably paying off over $500/wk. (I'm paying 350 on my car per week on a CHP, with minimal balloon over 3 years for 50K car.).
If he has a high powered job, he probably feels he has to have all the bells and whistles, both in terms of possessions and wedding.
Difficult situation....... I hope you are able to resolve it without too much pain,
Pen
Qaz, you are scr*wed, you will never see your entire $$ back, ever. Your friend, despite earning a nice salary and single is a total ja*ka*s! Since he has a wedding coming up, your chance of getting $$$ back has droped to 0.0000000001%. Good luck though. You and me seem like we're on the same boat, the boat called.. Being stepped upon and still being nice afterwards. Put your foot down and end this.
Try faking an emmergency or something, say your parents just called you up and they need $$ urgently because of some _____ event. See how your friend deals with it. If he geniuenly cares and repays you back a huge chunk, I would be surprised. $100 bet says he will fake looking as if he's concerned, but won't give you back more than the $100/week you're asking for, which means you've finally woken up and realized what a bas*te*d your friend is. It's better knowing now then down the line. If you get into a fight with him now, you probably won't get invited to their wedding. Consider this a life tuition fee, sorta like falling off your bike and getting bruised the first few times you learn to ride a bike.
Try faking an emmergency or something, say your parents just called you up and they need $$ urgently because of some _____ event. See how your friend deals with it. If he geniuenly cares and repays you back a huge chunk, I would be surprised. $100 bet says he will fake looking as if he's concerned, but won't give you back more than the $100/week you're asking for, which means you've finally woken up and realized what a bas*te*d your friend is. It's better knowing now then down the line. If you get into a fight with him now, you probably won't get invited to their wedding. Consider this a life tuition fee, sorta like falling off your bike and getting bruised the first few times you learn to ride a bike.
Keep all emails, as it may be the only confirmation of a loan and repayment schedule you have for a court.
If you do require going to court, and win, you will be able to have his wages garnished, and probably receive interest. (we do in Canada)
You already know where he works..and that is half the battle.
If you do decide to give a wedding present, do not be generous and write anything silly like "your loan is forgiven". Friends do not give $20k wedding presents.
Maybe give him a receipt for "one month interest waived"
If you do require going to court, and win, you will be able to have his wages garnished, and probably receive interest. (we do in Canada)
You already know where he works..and that is half the battle.
If you do decide to give a wedding present, do not be generous and write anything silly like "your loan is forgiven". Friends do not give $20k wedding presents.
Maybe give him a receipt for "one month interest waived"
I hope you didn't come here looking for a little sympathy and understanding qas.
Speak for yourself sunfish, there are alot of members here that have a heart.
I think mocking someone who has been ripped off like Qaz has, is a new low for you.
I don't know what has gone wrong in your life, but do you really think that making insulting comments like that will make it all better?
Are you just trying to put people down, so that you aren't the only one in the world who feels so upset?
Do you just need a hug?
Feel free to start a thread asking for help, there are lots of caring members here who will not make fun of you, but attempt to assist you, with whatever problem it is that you have.
Hi Qaz,
Sorry to read about your dilemma, you have it right when you say it is an addiction, no point in feeding it, it will just get worse.
Make every effort to get him to repay, claim a few problems yourself so that he won't expect any more. This will also allow you to ask him for more repayments and I would try to do this in writing via email and such. Keep any text messages from him about the money.
Should his new wife stop the repayments this may give you some hope of getting a legal settlement. You are not in a strong position so any evidence might come in handy.
A very expensive lesson that people like him are "users" and they seek out kind people like you to take advantage of.
Should you ever get your money back I think I would be putting a bit of distance between him and me.
Good luck
Sorry to read about your dilemma, you have it right when you say it is an addiction, no point in feeding it, it will just get worse.
Make every effort to get him to repay, claim a few problems yourself so that he won't expect any more. This will also allow you to ask him for more repayments and I would try to do this in writing via email and such. Keep any text messages from him about the money.
Should his new wife stop the repayments this may give you some hope of getting a legal settlement. You are not in a strong position so any evidence might come in handy.
A very expensive lesson that people like him are "users" and they seek out kind people like you to take advantage of.
Should you ever get your money back I think I would be putting a bit of distance between him and me.
Good luck
Dear Qaz,
This situation just keeps escalating from bad to worse the more I read through this thread. It saddens me to see someone as kind hearted as yourself be taken advantage of.
Please do yourself a favour, LET HIM GO. It was easy enough for you to part with your money because you did it out of love, now do the same for the friendship; not so much for him but for yourself. YOU DESERVE SO MUCH BETTER than this $#%@!!er as a friend.
I am sorry for your loss (the money) not the friendship which died the minute this person (on 150K) had to ask you (on much less??) for a loan. But I know you'll be okay Qaz; it was an expensive lesson to learn and I'm sorry someone like you had to go through it.
I pity his (if not now, soon-to-be) poor future wife!!!
This situation just keeps escalating from bad to worse the more I read through this thread. It saddens me to see someone as kind hearted as yourself be taken advantage of.
Please do yourself a favour, LET HIM GO. It was easy enough for you to part with your money because you did it out of love, now do the same for the friendship; not so much for him but for yourself. YOU DESERVE SO MUCH BETTER than this $#%@!!er as a friend.
I am sorry for your loss (the money) not the friendship which died the minute this person (on 150K) had to ask you (on much less??) for a loan. But I know you'll be okay Qaz; it was an expensive lesson to learn and I'm sorry someone like you had to go through it.
I pity his (if not now, soon-to-be) poor future wife!!!
Hey! It isn't me who has been telling him to harden up, dump his mate etc. I have no idea what is best so I've kept quiet.
I just reckon he must be suffering advice overload, and I didn't see a lot that that is better than he would get from Dorothy Dix.
But you are right. I should have continued making no comment. Sorry.
I pity his (if not now, soon-to-be) poor future wife!!!
Exact thoughts going thru my mind!
Is it possible that the $150k per year is actually a front - and that this person actually is on far lower?
The Y-man
I still can't understand this with the money this person is on,i would say from looking at this from another angle he-she may have a serious drug problem, you can go down the legal road and suffer the stress factor and worry and still walk out with nothing,i pity the parents of the young lady he is about to marry into their family because they will be next on the list, sometimes it's better to walk away,or as the local old Greek Gentleman Barber tells me the going price to recliam your funds on 25k
is 3k with a 24 hour turnaround,i don't think you will find those sort of people in the yellow pages but they are out there,i have just been lucky never to have put into that problem zone..good luck willair..
Don't EVER allow a outlaw motorcycle gang anywhere near your business/affairs. High risk strategy.
Don't EVER allow a outlaw motorcycle gang anywhere near your business/affairs. High risk strategy.
I know what you are saying Sunfish i grew up in Brisbane in the 70's when several "1%"started their business
networks and i see enoughof them at the auctions when the stolen harleys come through in large numbers not sure why they only buy all the frames
, they buy anything then maybe some of those crank cases have more in then people think ,,but the persons the barber told me about are higher up the food chain,ex vic fruad squad that are based in brisbane and i never intend to ever use any on themwillair..
