I still don't get why he had 20k online and didn't give you your 2k back then, unless he went on some silly hot heater like the day before black Friday.
He has 20k locked up online at Full Tilt. 20k on Full Tilt, 10k on Stars, 10k, on etrade. Busted his eTrade and Stars account at Commerce + Living Expenses.
I proposed twice but they were more on Eussi way of thinking and were reluctant to accept this from me after I told them that I did not want any interest and that they could pay back whenever they wanted. I also told them that it would notbe a problem if they never paid back and that I wanted to do that because they were my friends.
well yea but that is a total different situation.
if you say that it doesnt matter when you get the money back, and you say that it isnt the end of the world if for some reason he is never able to pay you back, then ok, i wouldnt mind it & i wouldnt ask for my money back either.
That is why when i loan money to friends, we alwayz come up with a plan TOGETHER.
we decide if there is gonna be a max on what he can loan, we decide together if we choose to give it a max date before he has to pay me back.
if you dont make the right deal before the loan you both are gonna end up arguiing about it after a while, and then the one says, yea but you have to pay me back, the other one says yea but you know i dont got the money right now etc etc.
so yea, make a good deal TOGETHER, and you are both sure of what the other person wants...
btw i would never ask for a interest for friends...
In hindsight you should have wrote up terms or provisions (could be informal)to the loan that would have relugated that the lending party was in fact borrowing money. Allowing you the opportunity to seek outside mediation to resolve the conflict such as small claims court. Remember that this is not your fault, and it's if anything your friend who has put a strain on your relationship.
I don't think it's very smart not to write up a terms of agreement. For one both parties then have the terms of the deal in writting, protecting both sides from coming back and altering the original deal later. It may not be ideal to worry about the worst case scenario when it comes to your friends or really anyone but I would prefer to be protected and know there is coming to some avenue I can take to make myself whole again if my "friend" drops the ball and can't pay the balance.
thats very aspergerish. if u think your friend can't pay back or u can't afford the loss etc, you just dont loan. u dont ask your best friend to sign a contract, you send him to the bank to get a loan.
Exactly. If you're best friend is worth less to you than $2000 then your priorities are completely screwed up.
I would prefer to be protected and know there is coming to some avenue I can take to make myself whole again if my "friend" drops the ball and can't pay the balance
You're not going to be whole. You'll have the money back but you'll have lost a friend.
That is just not true, in this case you spent x ammount of years waiting for your "friend" to make right and acknowledge the debt by starting to make payments. He has had 5 years to start to pay back, or pay you back yet instead of getting it in gear he has decided to make you a low or even non- priority on his list and spend that money literally on other things. To me that does not sound like a very strong friend.You don't have to agree with me but this is how I feel in regards to this.
ps. I acknowledge that loaning money to people you know (friends/family) is not the best course of action as the risk of lose is increased creating strains on personal relationships. Leading me to believe that I would personally avoid doing it.
Contracts are even more important for friends and family when you are dealing with loans. The point of a contract is to protect people, the idea that its insulting or implies a lack of real friendship is silly. The people you want to protect the most should be your friends and family.
The problem with this whole situation is the "poker mentality."
When poker was the context of our loan, there was no problem. I knew that he'd play, grind, get some money, etc. He's a great player who hit a bad run + mental game went in the tank.
But now, he has a job, his girlfriend has strongly influenced him to swear off poker and put that life behind him. And probably rightfully so. But with that new found outlook on life, he's thinking "that is my past, and I don't have to acknowledge it, it's not part of me anymore."
The problem is, I am attached to that past, and I am unaffected by his new job, his new life, etc.
Hopefully he'll just his FT balance back and ship me 2,000 and all will be good.