Debt recovery problem

[BeContented]

pinky:

hi BeContented,

wow, your BIL is really too much. how come you cannot reveal to his mother and wife? are you n your husband gonna go on subsidising him endlessly?

hi Mychildren,
yes, my husband did bring up to his other colleagues about the unpaid loan so that they will be aware of it.

Actually this BIL is a rather simple & nice fella, since first time can help. But no 2nd time lor. MIL is a super nag & all cannot stand her 'loud shrieks' .... So can understand lah. As for wife, think she also the fierce & dominating type....so he prob dun dare.....
Anyway, it's still within our ability to help, if too much, then must activate all....cannot care so much.

Pinky, try not to let it upset u too much......it's a lesson learnt.

[pinky]

hi BeContented

thanks for the advice. Now trying to imagine that the loan may have truly help to pay that fellow's mother's hospital bills. He just sms my husband yesterday promising to pay end of the month :xedfingers: Trying not to hope too much in case disappointed again.
ohm..........................................

[millbear]

hi pinky

I know that I am not alone to face this similiar problem as you.
My hubby lent $8k to his former collegue without a written IOU and has chasing him for returning back in partial. Worst, my hubby signed as his guarantor for borrowing money from bank. I came to know when the letter was mailed.

[MMM]

millbear:

Worst, my hubby signed as his guarantor for borrowing money from bank. I came to know when the letter was mailed.

:yikes: That is really scary. How can your dh be a guarantor for his colleague? Even for siblings/ relatives, people are wary of being a guarantor. Is there anything he can do now to limit his liability/ risk?

[millbear]

MMM:

:yikes: That is really scary. How can your dh be a guarantor for his colleague? Even for siblings/ relatives, people are wary of being a guarantor. Is there anything he can do now to limit his liability/ risk?

Seriously dont know what to do. pray that his former collegues paying on time... at the same time, my hubby chases him to return the money back every month... sians