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Hi,i have a friend that is in financial crisis and i have been helping her a lot lately. I have been paying for her college expenses and letting her live free off of me. I want to know is there a possibility she’s using me for my generosity and money or is she really a good friend?
-thank you
Wow — this has become a sticky situation! Are you able to observe her spending habits? You might want to consider setting up a repayment plan and let her know that you have been willing to help her, but can’t continue to do so indefinitely.
She should be able to find some kind of a job to help with her college expenses and living arrangements.
Best wishes,
Do you see her moving out of my place anytime soon or paying me back the money that i lend her?
You might have to give her a deadline to find other living arrangements. You need to tell her that this can’t continue on an indefinite basis. You might have a problem getting her to repay the money. Does she thoroughly understand that this is a loan? You would do well not to loan her any more money. She should have family to turn to in her time of need.
Best wishes,
Well so far she owes me 650 dollars and she say she pay it back but i don’t believe her. I’ve done a lot for her and people keep telling me i’m being used by her but i’m mot sure.
I gave her a deadline to move out by oct 1 but i don’t think it’s happening. Can you give me insights about this situation?-thank you
This is going to be difficult, but you must continue to ask her every day what she is doing to find other living arrangements. You need to tell her that you can no longer accommodate her needs and she must be relocated by the deadline. You could suggest that you will have to take legal action if she doesn’t. This will put a damper on your friendship and you might have a problem getting her to repay the money, but she will be out of your home.
Best wishes,
Should i stop being her friend? Do you sense her as being a bad friend?
You don’t need to quit being her friend, but you need to remain firm about the directive you have given her about finding other living arrangements. Unless you have something in writing, you might have a difficult time getting her to repay the money that she owes you. You need to offer continuous reminders until (if) she does. As for being a bad friend, she is clearly taking advantage. What has she done for you lately other than cause you worry and grief?
Best wishes,
Well i guess she haven’t done much for me. I’m the one taking care of her and paying for her expenses. I also was the co signer for her loans. I didn’t know what that was so i signed it. But i’m also a college student myself and i feel she thinks i have a lot of money to give her. I just wanted to help her because i felt bad but i didn’t know she was going to ask a lot from me. Thank you for the advice though.
You might want to contact the organization that handles her loans and explain the situation. When you co-sign on a loan it means that you agree to make the payments in the event that she can’t do it. It is a legally binding contract. You wouldn’t want to hurt your credit at such a young age. It is surprising that she was even granted a loan given these circumstances. You need to know what conditions must be met in order for you to be removed as co-signer. You might need to get your parents involved. It would be best if you act on this immediately.
Best wishes,
Well i just figured out that the school have gave her around 2,500 for the semester but do you think she will end up paying me my 650 that i loan her? Or do you think she will forget about it and not try to pay me at all?
-thank you
You would do well to consult with the school financial office about what you can do to get your name off as co-signer on her student loan. Please refer to my reply to your last message. It doesn’t appear that she is making any effort to make any payments or repayments. You need to take action now to protect yourself.
Best wishes,
Well i ask her to take my name of the co-signer and her loans couldn’t go through because i have no credit. So she wanted to ask my mother to pay and be her co-signer because she didn’t want her parents to be involved which i thought was odd. You were right that she did move out my place, but now the problem is getting the money back because it’s a lot that i gave her. I just don’t know what to do.
-thanks for your help
I do see you getting out of this situation of being the co-signer, but you must work to make that happen. Please check with the school’s finance department to make sure that your name is taken off as co-signer. You would not want this to eventually cause a problem with your own credit rating. Of course your mother is not going to pay for anything for her! As for getting back the money that you gave her — unless you have something in writing where she agreed to pay it back, you most likely will not see that money again. It seems hard — but someday you will look back on this as one of life’s learning experiences. You aren’t likely to make this mistake again.
Best wishes,
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