collecting on a debt

iVillage Member
Registered: 05-15-2008
collecting on a debt
6
Thu, 05-15-2008 - 9:51am
WE loaned my brother -in-law 4000 to pay back taxes. Repayment is 85 per week. he got behind after the third week. Now he is about seven weeks behind.This money comes out of my husbands check every week. Did he pay anything when he got his tax refund? NO. Now when he gets his
iVillage Member
Registered: 01-25-2006
Thu, 05-15-2008 - 10:19am

Gosh, this is such a bad situation.

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Thu, 05-15-2008 - 11:43am

I would leave this between your DH and his brother.

All my best,
Danni

iVillage Member
Registered: 03-24-2008
Thu, 05-15-2008 - 7:01pm

Lending money to friends/family without a promissory note rarely ends well.

It's okay to jump...you have wings! 

To move forward...you have to stop looking back.

iVillage Member
Registered: 05-15-2008
Thu, 05-15-2008 - 9:29pm
Thank you for the response. Yes, I suggested he pay what he could until he could catch up. But when he
iVillage Member
Registered: 09-25-2003
Fri, 05-16-2008 - 1:47am

I would find this very frustrating. My dh and I once borrowed money from my sister (she had it) and we paid it back at the rate of $100 per week. It didn't occur to her to ask us for a note, so I can understand why it wouldn't have occurred to you to ask your brother in law for a note.

How does your husband feel about all this? Because at the very least, this could be an expensive lesson about not lending to your brother in law.

iVillage Member
Registered: 03-24-2008
Fri, 05-16-2008 - 2:13pm

Always feel free to vent away!

It's okay to jump...you have wings! 

To move forward...you have to stop looking back.