Bank of dad

#21
WB, I am in NZ and the courts here pontificate and make a judgment, but they have no way of enforcing a civil claim it appears.
I asked the lawyer about that and the answer was that the court could force him to do x amount of community service for y amount of time, but the kicker here is that once the community service is complete the debt is deemed to be wiped.
I decided that why should he do that service (picking up rubbish mowing lawns etc) and me pay for it.
Like I said good money after bad.

I have since learned over the last few years that he has been bankrupt but is now out of bankruptcy and owns and trains racehorses and making good money as some of his horses have won group 1 races.
I don't know much about racehorses as I don't gamble, but assume the winner of a group race wins a good stake.

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Worked for Marlon.......
 
#23
That's a fine thing you're considering but if I were you, I would write it up like a regular bank would stating terms and conditions of the loan and get it signed by your daughter and yourself, and notarized. That way there is minimal chance of hard feelings later on if she feels that it's not quite fair. (As can happen when one makes sizable loans to relatives)
Heathen! Loans to children are just charitable donations or inheritance gifted early!
 

MrBane

LE
Moderator
Kit Reviewer
Reviews Editor
#27
I was always taught one thing by my dad...

"You won't see a penny from me once you're 18 unless it's to help with a house."

That and I had to pay £100 a month in dig money once I started full time work at 17.

How old is the daughter? If she's young which may be the case, consider that insurance could be over £1500 as well.
 
#30
I was always taught one thing by my dad...

"You won't see a penny from me once you're 18 unless it's to help with a house."

That and I had to pay £100 a month in dig money once I started full time work at 17.

How old is the daughter? If she's young which may be the case, consider that insurance could be over £1500 as well.
Well then you should have taken him to McDonald's for breakfast every once in a while!

My parents time is more important and vital to the war effort then money. Their ability to child mind saves my wife and myself and my sibling and his wife a ton of cash and stress.
 
#31
or the C1 is a Toyota with a Citroen badge on
The Citreon is a lot cheaper, all built in the Czech Republic, in the Peugeot, Citroen, Toyota factory. Toyota is looking to pull out as it sells next to none of them as everyone saves a couple of grand and buys the C1. Peugeot can't sell their version either.
 
#32
I too have a daughter who seems to mix up the English verbs to lend and to give.
I have lost count of the "Dad, can you lend me so many squids until the end of the month?"
Of course, it's my fault when I don't ask her to stipulate which month.
When home boys and off out for the night, I always gave my lads emergency money (just in case)
Bugger me, it must be dangers out there.
 
#33
Why are you buying her a car? When I was 17, I had to sell my body for ten years before I had enough coins to buy a £2,000 Clio, but it was worth it. By God, it was. Taught me a lot about life.

Times were hard, and the family had nowt but a cardboard box and a shoe between us.
Cardboard box..........Luxury
You were lucky. We lived for three months in a paper bag in a septic tank. We used to have to get up at six in the morning, clean the paper bag, eat a crust of stale bread, go to work down t' mill, fourteen hours a day, week-in week-out, for sixpence a week, and when we got home our Dad would thrash us to sleep wi' his belt. :-D:-D:-D
 
#35
Cardboard box..........Luxury
You were lucky. We lived for three months in a paper bag in a septic tank. We used to have to get up at six in the morning, clean the paper bag, eat a crust of stale bread, go to work down t' mill, fourteen hours a day, week-in week-out, for sixpence a week, and when we got home our Dad would thrash us to sleep wi' his belt. :-D:-D:-D
Your dad had a belt, did he? What a luxury! Our family didn't have belts. You know what we had? Twine, son! A single length of twine, and we needed to make it last.
 
#36
I’m a little gobsmacked that parents expect the money back. I’m hugely gobsmacked that they actually charge interest on it.

I thought your kids were there to keep you poor.

I’d be considerably wealthier if I had done that over the years!
I think it depends on the kid in question's finances. If they have the income to go to a bank and get a lone, why not let them have one cheaper. If they don't and you think they need a car then yes you buy them one. The sooner they learn to be independent the better for all parties, but yes they're your kids, and I'm begin specific here not cousins, brothers, in law, or otherwise, etc; so you do what you can when they need it.
 
#37
Buy her the car you tight arse, I got a Mini Mayfair when I was 18 from my old man, be damned if my kids have to pay for their first car.

I am edging the boy to get a Toyota Rav4 - Toyota is bulletproof, its not a sports car and it will have a fairly good resale value.

Hopefully he will remember my kindness when he needs to change my adult nappy!
 
#38
I bought my first car with no help from my parents. Car two was from my mum, but I paid the book price. Car three was a hand me down after my dad died. Car five was bought by my mum, but I paid it back by DD. Six was bought with no help.

The current wagon was bought on mum's credit card and a note to that effect put in her will.

Sent from my neocore_E1R1 using Tapatalk
 

ancienturion

LE
Book Reviewer
#39
#40
Good post, except I don't understand your point.


  • 1550828023687.gif

    I have since learned over the last few years that he has been bankrupt but is now out of bankruptcy and owns and trains racehorses and making good money as some of his horses have won group 1 races.
    I don't know much about racehorses as I don't gamble, but assume the winner of a group race wins a good stake.
 

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