ADP

Yikes!

My house mate who I live with just asked to borrow £600 till the end of the month! Its not a small sum is it?

Rather embarresing for me, I had to say no, I dont have it in cash. He knows I have it, but all my money is tied up in the stock market and Im not prepared to sell £600 worth of shares on his behalf.......

Im now feeling guilty when none of this is my fault........

Tiggs

lol- if your money is invested its the same as him asking you to sell your TV to loan him cash....his prob, not yours.

rb5037

Do you know what the £600 was for?

STi wanna Subaru

iTrader: (1)

it's asking too much. £10-50 I wouldn't bother about but £600 is a lot to anybody and then it's if and when you will see it again. Can only lead to bad feeling IMHO.

Goochie

Ask if you can have his car as security - or his wife ?

ADP

his car is only worth 600 tops!!

Scooby96

I lent a mate my cash card so he could borrow £50 - didnt get the card back for over a week as our schedules didnt coincide. Got the card back and when my statement arrived he'd withdrawn £190

Took about 6 months for him to pay it back with the odd £10 and £20 note

SD

From experience I don't lend friends money - not because I'm tight, but because if they can't pay it back for whatever reason then it can lead to a difficult feeling between the two of you. Doesn't he have family he can go to?

Simon.

TaviaRS

I'm a fool, I've done the same thing twice now, same sort of amount.

Beggar all chance of getting it back

So, all in all, down about £1k and very little chance of getting it back. Serves me right for trusting "mates" I suppose.

Won't be doing it again.

andrewdelvard

Although many years ago, yeah done the same TaviaRS. Mates and loans just don't go together...

Herts T555 Bird

Dont feel guilty about it. £600 is a lot of money and especially if you havent got it to hand, and too be honest he's taking the p1ss a bit when he knows that the only way you could get it is to sell shares etc. Bit cheeky if you ask me.

But dont feel guilty, although he maybe a mate, lending money to 'mates' never seems to end well.

ADP

once Ive paid the bills, hell owe me another 200 quid, thats getting too near 1000 quid, I can imagine the scenario - can I pay u back over 3 months etc etc

cheers guys, he hasnt mentioned it again so hopefully its water under the bridge...............

Dracoro

Or a bank! they loan people money. Or put it on his credit card or overdraft. If he 'can't' do this then there's normally a good reason why. £60 yeah, but £600 no. Why does he need it and why will he have an extra £600 at the end of the month to give you back? can't he wait anyway?

ajm

Been there before.... whilst I was at Uni I rented a room to a bloke who was on my course... he managed to get about 4 months (some 800 quid) behind on the rent but still came home with new clothes etc.! Had a massive argument about it and finally after about 6 months he managed to pay it back. Gave him no room for error after that!

ALi-B

iTrader: (1)

Tricky situation.

It all depends on trust. Is he just a mate because he lives in the same house (i.e just know him and get on ok), or is it on a higher level (life long friends etc.) ?

Normally I wouldn't lead that much myself, only eception if it was a very trusted and dependable friend of mine. I'd also want to know exectly what's it for, why he can't get the money, and when I'd expect to get it back.

Also can you afford to loose £600? If you can, then loan it him, and if you don't get it back, you know how much of a "mate" he is and it's a lesson learnt.

Fatman

I wouldn't do it unless I *really* trusted that person. £600 is a lot of money. Don't do it.

OllyK

Been there, done that, got the T-shirt, wouldn't do it again. Unless he owes the mafia and they are gona top him if he doesn't pay I wouldn't even go there

rb5037

If he is a mate do it, unless you can no way get the money.

If he isn't a mate then don't.

Give him a chance, if he's let you down before say no and explain why.

Simple as that!

ADP

he has a "one off" bonus due at the end of the month, 1500 quid is - trouble is he is the sort of person who is fully overdrafted / credit carded up - so the 1500 will be instantly absorbed by this..................I trust him, well I live with him but his financial management is terrible..........Im desperately saving to buy my own house to get out of the sharing a house scenario, at the moment 600 quid can make me half itself in a week and I cant afford to lose that

Fosters

There are good mates out there and not every one who asks is low life.

I got into dire straits and asked my friend for some dosh, next day in the post was a cheque for £2K. I was so humbled, I sold everything I could to pay the money I owed (to the government!!!!!). I still have his cheque uncashed and framed. I was lucky I could sort stuff out (just!), but if I needed to I'd have used it and I would've paid him back. he's a dude.

LG John

I've let mates borrow up to £250 off me in the past without battering an eyelid. My brother currently owes me £200 and has done for months

I asked my mate if I could borrow £11,000 off him once for a week or two to allow me to buy a car (loan wasn't through yet). He would have done it if he could have accessed the funds at the time

speedking

If you lend someone £20 and never see them again, then it was money well spent
£600 is too much IMHO.

ChristianR

iTrader: (1)

I wouldn't, I booked a holiday and we all agreeed I would pay it and then the others would pay be back. Was about £600 each. Everyone paid apart from this one bloke, in the end hate to almost taken him to the petty debts to get my money back. It did effect our friendship, and well barely ever see him now. Since then have never lent money to friends.

ANDYUK300

**** him!!! cheeky sod.
if he is old enough to share a flat with someone then he should be old enough to handle his own finances. if not then tell him to p#ss off back home to mummy and daddy. on the flip side you could then move a fit chick in with you

Paulo P

iTrader: (42)

lol I had a friend like that and yes it was money well spent in the long run

Markus

Me being me, if I had the cash I'd probably do it. However, I don't have it and could not. If your money is tied up in stocks, and your friend knows that, then he shold know it's not that easy to get at.

Don't feel guilty, you're not required to give your friend any ammount of money. I'd want to know what it is before I hand it over though. I know a few people who would have said it was for something critical, like paying off bills, then they appeat with a new TV or stereo, and you feel a total mug. Not everyone is like this though.

GreenMachine

Slight OT, but where are you getting that rate of return on your money??!!

I'm in!!

ADP

well bought stocks...................check out the rise on AFD, AFG and TFC just for a starter.................good day to day too thats why I feel a bit guilty, cos I "could" access the money, but like I say Im busting to buy my own place I mean Porsche 996 I mean flat.........

scoob_babe

At the end of the day, you don't have to justify what you spend your hard earned cash on!
Personally, I wouldn't lend the friend that kind of money as it will turn ugly the minute you need it back in a hurry,