A friend loans her best friend 15K to pay taxes and avoid possible jail time. The friend pays about 3K back but now says she can no longer pay her friend. Seeing that the friend who borrowed the money has valuable antiques on her home, the friend ask her to sell them to pay the debt. The friend refuses. What should the friend that lend the loan do?Warm regards, Dina Harbour, Extraordinaire Stay Connected to W.O.W. download our customized toolbar today!CEO & Host of Women Obtaining Wealth Women Obtaining Wealth Organization W.O.W. Conversations on Internet Radio, Sundays @ 9p EST Call-In # for show: (646) 478-5836 Recommend Me! |
1 comment:
You can't make a friend choose your friendship over valuing the things they have. People assign value to objects that may be completely unreasonable to anyone else but them.
Everyone has known someone who loved something that no one else could stand or liked. It's not necessarily about the object, it's about the meaning they have assigned to it.
So, regarding a friend that SAYS she can't pay a debt I ask you this, does the lender "need" the money? We should NEVER lend money to friends and family if we can't afford to never see it again. The lender must choose which is more important - friendship or money. But what kind of a friend would not pay back a loan? Good question.
If it damages the friendship - you don't have a great one - sorry. If the borrower doesn't see any other options for repayment, help her to see more. There is always at least 3 options for any situation. Maybe she could "work off" some of the debt - cleaning, cooking, organizing, gardening, whatever. Perhaps she has another talent that could make some money on the side.
People normally resort to crime or paralyze themselves into inaction because they don't think they have any good choices.
One last word - communication. Sit down and have a very frank conversation about what is going on. Just because a word is used doesn't mean that is the truth about the emotions or situation. Dig deep in conversation. Listen without judgment.
If your friend values the relationship, you both have a lot of options.
Good luck.
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