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Moving out part two. Kind of a rhetorical question here.

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By (user no longer on site) OP   
over a year ago

Say you were living at home and you had a savings account, which contained a large some of money. If you trusted the home owner to pay you back and some time after you found out they couldn't pay you back at the rate that was agreed. However they said class the difference as rent, which is about 5/6 years worth. Going by what I was paying them in the past.

Would you except that and move out at a "late" age?

Stick to your current plans and try to move out ASAP and class the loss as a gift to them? (Bare in mind we are talking thousands here)

Or extend the loan. So it will take them about 10 years to pay me back? So when/if I move out soon. I will have to budget my money even more for that length of time?

I know its a tough question at the time of night, but bored and its been on my mind for a while.

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By *iamondsmiles.Woman
over a year ago

little house on the praire

I wouldn't commit myself to staying another 5/6 years. You could be married with kids by then.

Depending if I could afford to right of the loss or not I would probably go with extending the loan

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By *iamondsmiles.Woman
over a year ago

little house on the praire

Mind you I wouldn't have that amount of money just sitting in an account, I would of invested it.

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By (user no longer on site)
over a year ago


"Mind you I wouldn't have that amount of money just sitting in an account, I would of invested it.

"

Bank accounts do provide pretty poor interest rates, but investing in non risky investments does not bring in much more interest.

If you were living at home, I presumed you meant parents, just ask that they register a charge on the home of that amount owing , and start again .

Say it's a long term investment and they pay it back when house is sold, with interest in relation to the increase of house value. Get a solicitor to do it .

Personally if it was my parents I would not ask for it back .

I also never lend money to anyone I can not afford to get back

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By (user no longer on site)
over a year ago


"Mind you I wouldn't have that amount of money just sitting in an account, I would of invested it.

Bank accounts do provide pretty poor interest rates, but investing in non risky investments does not bring in much more interest.

If you were living at home, I presumed you meant parents, just ask that they register a charge on the home of that amount owing , and start again .

Say it's a long term investment and they pay it back when house is sold, with interest in relation to the increase of house value. Get a solicitor to do it .

Personally if it was my parents I would not ask for it back .

I also never lend money to anyone I can not afford to get back "

there ya go, this, although again, i personally wouldnt lend 'thousands' to a family member.

if there is anything that is guaranteed to split a family, its money

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By *dam_TinaCouple
over a year ago

Hampshire


"

Bank accounts do provide pretty poor interest rates, but investing in non risky investments does not bring in much more interest.

"

They do if you know what you're doing

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