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Relatives asking for money

Posted by
FISHINGNET36
on Apr 1 2018 at 08:45
Member since: 04 May 2017
Money advice Morning. Happy Easter. My relatives have been in debt since god knows how long. I have lent them money with little in my account. Yes they have paid it back. I gave them some for a car repair because I felt guilty because another relative who has just got some inheritance gave them some money. They are asking to borrow again. I have lent them money. My other relative has been splashing out lately on a lot of things.

About 6 years ago i opened an envelope from the bank which said i was nearly 2 grand in debt so i took my relatives who had power attonery on my account due to me being quite ill with my mental health,and i managed to get myself out of it by budgeting a lot.

I asked what they did with that money that a relative gave them,they couldn't answer me properly. I still have problems with my mental health and it stresses me out when they ask for money.

I lent some to the relative who now has some money and that has now been paid off. Why can't they ask the other relative and not me? I am out of work and my relative and spouse work. Please may I have some advice.

Relatives asking for money

Reply from
SUSIEDQQ
on Apr 1 2018 at 13:16
Member since: 27 December 2013
First, you need to make sure that the person who can access your account is trustworthy. Tell that person that they are not to withdraw any funds without your permission. Tell the bank you want two signatures for withdrawals. Go talk to the bank.

Some people have a lawyer to oversee their accounts. You might want to investigate that. Also, your social worker should be aware of everything.

Next, learn to say No. You must not let yourself be pressured into doing anything you don’t want to. Just say”I’m sorry. I am not able to do that.” If you do lend anyone money, get an IOU in writing. Date, amount, and payment plan - all on paper.

Congratulations on your being able to save. Watch over all your accounts.

You sound like a compassionate person. Be discerning too.

Relatives asking for money

Reply from
FISHINGNET36
on Apr 1 2018 at 14:56
Member since: 04 May 2017
Thanks for the reply. I went to the bank with them and took them off my account about 6 years ago. I had to do it. I spoke to them earlier and said that next time they ask to borrow money,to ask the other relative. The amount I lent for a cheap second hand car has been paid back.The amount for the car repair a few years earlier has been paid back. And the amount for a tyre a few years ago has also been paid back. It was paid back with a payment plan. It just irks me that they still ask me even though the other relative has some inheritance now. I said I didn't get much money. They said they didn't either. Between them,they get more than me. They quickly changed the subject. I shall say no next time. Someone else can help for a change.

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