- This topic has 25 replies, 25 voices, and was last updated 1 year, 4 months ago by
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GI used to think – I am smart…can call a spade a spade..
Until this happened…….
I am fully aware how bad it is to land Money to friends or for that matter relatives too…
And yet I lent MONEY to my friend – 2 L.One day I called my friend just like that to say Hi….. Awkwardly enough he asked me to see if I can land him 3Ls – he will return from next month salary.
I couldn’t say NO – said will check and let him know.
Next day I said I have only 2 …. I had 3 but didn’t gave 3.
And as expected he asked to transfer 2L. Which I did…Now 6 months has passed …
1St time when I asked to return he asked for bank details and he will transfer – which he didn’t
2nd time when I asked – he said he will do – he is awaiting money from others!Mind you he is earning well, his wife also works. I knew him from 20 yrs…
I’m not in doubt that he won’t pay….. atleast yet…But I am feeling super awkward to ask for Money – I feel like being punished – I don’t want to be in such sorry state…
Plus the relationship has also became awkward for obvious reasons…
I fall in trap while knowing in full that it was is and will a bad Idea to land money to friends…..
Well this is my first and last experience
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UIf he doesn’t care about relationship, why do you?
Bhai look it from another angle, usko bhi to samajhna chahiye you guys know eachother from 20 yrs.Ask for your money, in India you have to make an excuse to ask your own money back. Tell him about some made up urgency and say u need 5L, ask him for 5L and say you’ll return in 15 days.
If he gives you 5L, keep it for 15 days and pay 3L back otherwise ask him to pay at least 2L and say you’ll arrange remaining from somewhere else.
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SKhud ke paise maangne main sharam na karo. Send him a message that you are in need of the money you lent him.
And bro if your friendship gets sour over this, he wasn’t a real friend.
If you’re looking for legal advice, then step one is a demand notice. But mind you, once you do that you can say goodbye to your bees saal ki dosti.
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UHappened to me as well. A friend who borrowed 2L with a promise of returning in 1 month, didn’t return it for 3 years. Same situation – he was earning well and he was loaning money to others, but he did not return my money. Until one day i snapped, kept my shyness aside and asked him face to face and then only he returned, that too in installments.. anyway got my money back 🙂 my be i did not have that “terror face” to be in loaning business!!
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SAlthough you couldn’t deny lending him you could have lent only the amount which you could easily forget.. maybe like max ₹50k, that way you would have gotten rid of such friend for cheap
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U>Mind you he is earning well, his wife also works
You never know what debt or shady things happen inside his home.
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SRule no.1 – Lend money which you don’t want back
Rule no.2 – Remember rule no.1If you want the money back don’t lend it to friends.
I’ve literally paid 4 months rent of my friend or he will be kicked out never got money back.
Thing with money is it must be returned back in a time frame other wise lender things it’s my money now and why I’m giving it back.
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ICan we put it as a contract and then lend the money? If he says he will give back in a month, put it in contract, even put a buffer like 3 months.
If your friend is serious about returning money, he shouldn’t have any problem with this.
I know it’s difficult to do this, but this is the correct way. -
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UYou should do your own due diligence before lending money. Did you know why your friend needed the funds? If it was something like urgent school fee payment at a time when they did not have liquidity and they are trustworthy people, safe to say you will get your money back.
It seems like, from the limited info you have given, that your friend may be a gambler. Either he is waiting for other people to pay him, or he is in losses.
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S**How I Got My Money Back:**
* **Total Amount Given to My Friend:** 75,000
* **Return Date:** 1 month (No response)
* **2nd Month:** He provided a date but didn’t answer my calls and only communicated through text.
* **Called on the Given Date:** In the evening, he told me he had the money but gave it to someone else because I hadn’t called him in the morning. He then provided another date.
* **Called Him in the Morning on That Date:** No reply. His final words were, “Do whatever; I will not return the money.”
* **Called His Father:** His father responded by saying he was angry and abusive towards me. He asked, “Did you ask for my permission when you gave money to my son?” He also suggested that I could go to the police and forget about the money.
* **My Solution:** I wrote a letter to the head department where his father worked, mentioning that the father-son duo was scamming me, along with proof of the transaction. The next day, I received an apology call from both his father and his son, and I got the full amount back within 10 minutes.**Note:** I wanted to pursue a legal route, but based on my research at the time, it was indicated that without a legal agreement between my friend and me regarding the money, it would be difficult to recover it. I was mentally harassed, so I decided to take that step, which ultimately worked for me. While the money was important, my self-respect was paramount, as it was my hard-earned money.
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SWhenever someone asks me for money, I respond that I am more than happy to help them. I provide them with the contact information of a friend of mine, who is actually a loan agent and tell them that I will ask him to offer them a loan at the lowest interest rate.
Note- Without legal agreement, you cannot get your money back.
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