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I co sign for a person & they couldn't make the payments could the business take the money from my checking a |
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QUESTION GIRL | How do I handle a person who loaned me $3000 from a $20,000 loan but they said they weren't going to pay back |
this person borrowed 20k and they loaned me 3k, ok now this person specifically said that he wasnt trying to pay back the 20k but he wants me to pay him the 3k back to him....should I give him back the money that I borrowed from him? |
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Steve
 |
You borrowed $3K from him, you owe him. He borrowed $20K from the bank, he owes the bank.
These are 2 separate transactions. Even if he doesn't repay the loan to the bank, that does not relieve you of the responsibility to pay him back.
One thing that you CAN do is notify HIS bank that he does not intend to pay back his loan. If he sues you, the bank can put a lien against the lawsuit and have you pay them directly. |
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Sam Nouri
 |
no don't pay |
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Allie's mommy
|
I would pay the person back even if they were not paying back their loan. You have nothing to do with whether or not they are paying their loan back. You borrowed $3000.00 and that is your responsibility. |
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eppie p
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Give back the money that you borrowed if you don't want to be involved ,but you have to make it in writing and have a copy of your own. |
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raha
|
Give him back the money |
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Robert P
 |
What?
If someone GIVES you money, then it's a gift, not a loan.
If someone LOANED you money, then you owe them what you borrowed.
What that person does with his borrowed money is his business. You just owe him what you borrowed. |
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Rico Trump
|
What money?
Thats what I'd ask him... |
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october1234
 |
pay the person back. just because he is shady and isn't going to pay back his loan doesn't me that you shouldn't. do you really want something like that hanging over your head |
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Bryan M
 |
Yes. If you believe he is in the wrong for not paying back the 20K, you'd be just as guilty for not paying him the 3K. Let Karma deal with him and be happy knowing you did the right thing. |
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rl153
 |
that's like that old question ,is it wrong to steal from a thief .I would say yes. |
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Sparkling Daybreak
|
Why does everyone keep saying he owes you 20,000 - I don't think they get that he didn't borrow it from you! LOL
If you have a contract with him, I would pay.
If you don't, I would think about, is it worth it? Is this person a friend or family? Will you be able to sleep with a sound conscience at the end of the day? Do you want to be like him?
I know where you are coming from - I rented a house my sister owned, she let it get foreclosed but still made me pay her part of the mortgage - I didn't agree with it but it is none of my business what she does/did with the money ~ same kind of situation!!
Good Luck! |
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SLF
 |
you borrowed $3,000 - you have to pay it back. Where the other person got it from or what their own morals are, is none of your concern. |
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Sodalicious
 |
um... if you borrow money... you have to pay it back. UNLESS OF COURSE he borrowed 20k from YOU. In that case tell him he owes you the rest PLUS interest.
Be careful with your money. Sometimes friends are worse at paying back - they use and abuse and give you some sap story about not being able to pay it back... |
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sweetwilie
|
you want to be a deadbeat like him? |
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dlwhit
|
Well if you loaned someone $3,000 wouldn't you want it back? No matter what your intentions are. It is his problem if he wants to ruin his credit and stuff by not paying back the loan. |
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Dustin
|
If they owe you $20,000 and you owe them $3,000, then I would definitely not pay them back! Just take it off of what they owe you........
Now they only owe you $17,000 and you don't owe them jack.
Sounds to me like they aren't planning on paying you back since they want their money paid back to them even though they owe you much more.
I would definitely take the $3,000 and keep it.......(that may be all of that $20,000 you'll ever see. |
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john c
|
Pay the man his money !!! |
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The Roger
 |
The details of the transaction will dictate what you should do.
Did you have a contract? If so, you probably should pay him back if you think he would come after you for the $$
Was it a handshake loan? If so, I would not pay him back.
Regardless, for $20K I would be in court getting a judge to tell him to pay you back the $17K he still owes you. |
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Austin
|
no he fu'cking owes u 20 grand lady are u stupid srry but its just retarded anyways just tell him that that three k will just be deducded from the 20k he owes u theen he only has to pay 17k |
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biglikecornbread
|
Of course you should pay back the money. the circumstances of their loan does not entitle you to change your arrangement.
Do you think your special or something? |
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