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Bad debt situation, I'm a nice guy but I don't think I have any other options.

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07-15-2010 , 03:31 AM

#101

Peter Harris

Carpal \'Tunnel

Join Date: Nov 2003 Posts: 8,424

yup glad the 0% your money has been earning is lesson enough. It's worth less now, thanks inflation.

Glad to see this wasn't a moron bump which I expected but a proper update.

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07-15-2010 , 04:02 AM

#102

Risk Neutral

journeyman

Join Date: Jun 2010 Posts: 308

sounds like you should sell his debt, u probably wont see anything if you keep going to him

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07-15-2010 , 04:11 AM

#103

Quadstriker

Carpal \'Tunnel

Join Date: Jan 2005 Posts: 15,367

How many more posts are we going to get giving advice for a solved problem?

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07-15-2010 , 09:42 AM

#104

SixT4

veteran

Join Date: Jul 2005 Posts: 2,924

I think you should just threaten to sell off his debt to some scary sounding loan sharks. The potential of having to deal with these possibly violent people could encourage him to start giving you small payments until it's eventually paid off.

Hope this advice is of use to you.

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07-15-2010 , 10:28 AM

#105

NeverThere

adept

Join Date: Jan 2008 Posts: 879

Normally, when I see a thread that I haven't seen before, I look at the date of the OP, if it's from a long time ago, I make sure to read the last few posts before I post...

This problem is solved, I got the money back, it earned 0% interest, however, I'm pretty sure 15K is not worthless due to inflation but perhaps the economics courses you've been taking are a bit more advanced then the ones I took...

Anyway, I learned my lesson for very very minimal damage and I just wanted to update everyone who helped out, especially parole officer.

For the record, if you sell his debt, you are not responsible for what thugs do to him, however if you hire people you are.

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07-15-2010 , 11:26 AM

#106

captZEEbo

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 9,991

These things rarely turn out well, so congrats!

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07-15-2010 , 04:50 PM

#107

VillainUnknown

veteran

Join Date: Mar 2008 Posts: 2,957

Quote:

Originally Posted by NeverThere

I am very capable of sleeping at night after selling his debt, I am a very good person, however, when I get screwed like this, i pay back, and generally much worse

Oldboy.gif

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07-15-2010 , 05:24 PM

#108

lonely_but_rich

ɔarpal \ʇunnel

Join Date: Mar 2009 Posts: 23,431

Quote:

Originally Posted by NeverThere

This problem is solved, I got the money back, it earned 0% interest, however, I'm pretty sure 15K is not worthless due to inflation but perhaps the economics courses you've been taking are a bit more advanced then the ones I took...

He didn't say it was worthless. He said your 15k is worth less now then it was when you loaned it, so you technically lost money.