The bank of Grandad.

[Deleted member 26715]

My son is very good, he will borrow & always pay back, my daughter on the other hand not so, sometimes it comes back other times it doesn't.

Not sure what I would do in @gavroche position, I'd like to think I would say No to any future advances from anyone & when asked why would advise that grandson X still owes £2450 & until that gets paid back the Bank of Grandpops is closed.

 

[gavroche]

Surely thats down to not bringing up the kids properly.

Up to a point I agree. My own two kids never ask me but there is also peer / partner pressure and the way society is, i.e: buy now ,pay later.

 

[twentysix by twentyfive]

~£2.5k !! Far too much to be lending to anyone TBH. If he/she really wanted whatever then he/she could save up......... Here's £20 for your savings account (only) would be my response. I'll transfer it by BACS.

 

[gavroche]

Surely you’ve raised This with your own children.
Why are they bypassing their parents and coming to you.
If I did something like that behind my parents back they would have been mortified.

Because their own parents can't afford to subsidise them all the time.

 

[vickster]

Because their own parents can't afford to subsidise them all the time.

Can you?
just make it clear that every penny they get now is one less in the inheritance pot (assuming you’re not planning to leave anything left to the metaphorical or literal dogs home)

If you’re happy to keep shelling out, it doesn’t really matter what anyone else thinks about the financial nous of today’s yoof

 

[gavroche]

Maybe the parents are encouraging it...ask your grandfather, not us, to lend you the money (As above)

How old are these grandchildren, if adults are they working?

It is mostly the same two: 29 and 26. The 26 year old always pay me back without fail when he gets paid, the other one , well........... no more for him.

 

[Darius_Jedburgh]

Sorry, but at those ages they should be standing on their own feet. If they are financially irresponsible now then they will never change.

 

[Deleted member 26715]

Sorry, but at those ages they should be standing on their own feet. If they are financially irresponsible now then they will never change.

We're disagreeing a lot today, but at that age I was in debt, would go spend money like it grew on trees, see something buy it, worry about how to pay for it next week. But now 30+ years on I squeak when I walk, I'm a fully fledged Yorkshireman

 

[vickster]

We're disagreeing a lot today, but at that age I was in debt, would go spend money like it grew on trees, see something buy it, worry about how to pay for it next week. But now 30+ years on I squeak when I walk, I'm a fully fledged Yorkshireman

These men don't seem to be worried about they pay it off as at least one thinks grandad will just bail them out!

 

[postman]

Sorry to read this.Looks like you will have to write it off.So i would do this.Let his parents know,and tell him he gets sod all in the will,put him back in if he coughs up.I think you will be doing him a favour,a kick up the backside.I hope you get some more back soon.

 

[Darius_Jedburgh]

@Phaeton

Disagreeing? Are we? Sorry. Not deliberate and I didn't know we had been.

But there's a difference between what you did, and taking it off grandparents with no intention of repayment.

 

[Drago]

Take them to the small claims court. Business is business.

 

[gavroche]

Sorry to read this.Looks like you will have to write it off.So i would do this.Let his parents know,and tell him he gets sod all in the will,put him back in if he coughs up.I think you will be doing him a favour,a kick up the backside.I hope you get some more back soon.

I have written it off ( no choice) and want to write him off our will but my wife won't do it as she has a soft spot for him so my hands are tied, for the moment.

 

[Archie_tect]

When we were first married, [we were 24] we borrowed £2000 to buy our first car from the bank. F-in-L said next time they'd lend us the money rather than paying interest to a bank wbich we did and paid them back every month- saved us £400 in interest!

Did the same for our 2, but we also set up a small savings scheme [20-odd years ago]- we cashed it in and split the total to use either to get married or use as they wanted. Both used it as deposits to buy their own houses... who says romance is dead!

 

[Drago]

How about Judge Rinder?