Mixing family and money is rarely a good idea. You never know what will happen when you lend someone money to get through a hard time. There’s a good chance they’ll take it, but will you give it back?
A man is learning these realities in real time after he loaned his sister $3,000, which she hasn’t paid back, despite making money since.
The brother is still waiting for the sister to return $3,000 after she inherited $30,000.
The man took to Reddit to seek advice about his family problems after his sister refused to pay him back just a portion of the money she inherited.
Two years ago, I loaned my sister $3,000 to pay off when our $30,000 inheritance from our grandmother came in, he wrote. It was supposed to come within a few months, but it took two years for various reasons.
Unfortunately, it was not a smooth two years for the family.
During those two years, my sister and her husband went into debt to make a six-figure marriage, he continued. Soon after, it seems the two began having problems with their income and were also struggling with their debt. Her husband owns several restaurants. Apparently, they are not doing well enough to support their lifestyle.
The brother concluded that it had just been a complete and utter financial disaster.
Despite the arrival of the inheritance, the brother continued to give his time. He did not demand that his sister return the money immediately, but still wanted to receive it in a reasonable time frame. However, his sister had other ideas.
I wait patiently for the inheritance to finally come and then my sister texts me saying she won’t pay me until she fixes her situation, he shared. They are selling their part of a business and then they will get paid.
The brother waited a little longer before contacting his sister once more.
He said, Hey, do you have any updates to pay me off? I had to go back after the inheritance came. My loan to you was only 10% of the inheritance. What have you done with the inheritance funds?
He explained that given the cash flow, he sees no excuse for not repaying it. “I heard it [had] invested a part of it in the market. I strongly feel that the return has priority over the investment (gambling?), he added.
The brother may have legal recourse.
Pigeon Loans says: When clear and consistent payment reminders and communication don’t work, lenders may consider legal action to collect on an unpaid loan.
However, much depends on the loan agreement and whether or not it is in writing.
Before you do anything else, check that you have a written loan agreement, Pigeon Loans said. When signed, a loan agreement or promissory note is the backbone of a loan dispute. Ideally, you will have documents that clearly show the loan principal, interest rate, payment dates and any other important information.
When other Reddit users asked if the brother had any written proof of the arrangement between him and his sister, he replied: Yes, yes, by text.
It’s unclear exactly what this textual agreement entails, but there’s a chance it won’t be as strong as a written or legally binding agreement, especially since nothing is signed. Again, the exact circumstances are unclear.
While it may not be certain whether this man can legally do anything, what is certain is that he deserves his $3,000 back. Or, as some people suggested in the comments, he could choose to forgive the loan as a kind gesture to his sister.
Mary-Faith Martinez is a writer for YourTango who covers entertainment, news and human interest topics.
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