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Question
Posted by: Tired | 2012/10/22

Affadvit

I offered to loan my BF of 5 yrs a large amount of money (15 thousand) to sort out some problems of his. He didnt ask. I offered. A few days after my offer he asked if he could take me up on the offer and I said yes but we need to discuss repayments, interest etc. I also asked if we were going to sign an agreement to which he said he will sign a letter. I then asked if an affidavit wouldnt be better than a letter. Now he is angry and saying I don''t trust him etc etc. Our relationship has been on/off for 5 yrs so I am just trying to cover myself. Am I wrong for asking for an affidavit? Should I be happy with just a letter signed from him?

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Our expert says:
Expert ImageCyberShrink

Loans between friends very often lead to problems and loss of friendship ; loss of interes in both senses of the word !
Even after 6 years, 15 thousand is an awful lot of money ( and if he's not offering to pay you interest, a significant loss for you ) - and its not a question of "trust" - of course there should be proper documents drawn up and signed, and a letter is probably not enough, thopuh a lawyer or your bank could better advise on that.
WHY does he find the idea threatening and bothersome ? If he sincerely means to pay it back, in whatever time is specified, where's the problem ? All details should be discused then covered in the document - when does he start and finish paying it back ? If he was excellent in money matters, he wouldn't need the loan.
What is to happen if he cant pay it back ? What if he does ? At least an affidavit would let you claim against his estate. Why does this bother him ? Or is he looking for a gift ?

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3
Our users say:
Posted by: hilly | 2012/10/23

Tell him to go to capitec or african bank u are not a bank

Reply to hilly
Posted by: Never again | 2012/10/23

Dont do it...i lent my ex 2500 also offered he didnt ask...all was rosy at the time and sometime after that we broke up...needless to say i havent seen a cent of that money, he stopped taking my calls and he went as far as to tell his collegues that when i call they must say he is not there.(i am friends with one of them as i used to work there and he told me this)..please dont give this man 15000 it is just not worth it..you will live to regret that decision..

Reply to Never again
Posted by: cybershrink | 2012/10/22

Loans between friends very often lead to problems and loss of friendship ; loss of interes in both senses of the word !
Even after 6 years, 15 thousand is an awful lot of money ( and if he's not offering to pay you interest, a significant loss for you ) - and its not a question of "trust" - of course there should be proper documents drawn up and signed, and a letter is probably not enough, thopuh a lawyer or your bank could better advise on that.
WHY does he find the idea threatening and bothersome ? If he sincerely means to pay it back, in whatever time is specified, where's the problem ? All details should be discused then covered in the document - when does he start and finish paying it back ? If he was excellent in money matters, he wouldn't need the loan.
What is to happen if he cant pay it back ? What if he does ? At least an affidavit would let you claim against his estate. Why does this bother him ? Or is he looking for a gift ?

Reply to cybershrink

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