How can a child make money?

If a parent lends a grown child money, how can you make them pay it back?

  • I have lent my 24 year old daughter over $3,000.00 over the past few years. I even got her a job where I work so she could pay me back. I have seen very little of the money come back to me. Now she says that since she is looking for a place of her own with her boyfriend, she will not be able to pay me back at all because she just won't have the money. What recourse do I have?

  • Answer:

    First question you need to answer: Is your relationship with your daughter, and your grandchildren (or future grandchildren) worth $3,000? Because the only way you'll get the money back is to sue her. Now, in order to win, you'll have to prove that the money was a loan, and not a gift. A loan typically requires both parties to agree to the terms. You say that you've lent her $3,000 over the past few years. This implies that there were numerous times you lent her money. The first question the judge will ask you will be something like this: "Ok, 3 years ago, you loaned your daughter $200. Did she pay you that $200 back? No? And you still loaned her more money? Why did you continue to loan her money if she wasn't paying you back?"

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Other answers

You could get the law involved and go to court. However, unless you put anything on paper or had witnesses to the agreement, it's going to be hard for you to prove anything. Unless your daughter is willing to admit that she borrowed the money, you may end up expending more in legal fees than you'll ever get. If you think you can prove it and really want the money back no matter what, contact a lawyer. This may damage the relationship between you and your daughter, though.

Kim

tie her up, than take her to the basement and cut her hair one buy one until she promises to bring back the money or else.

Troll Piper

Take her to Small Claims Court. She will have to pay. Never loan money unless you get a promissory note.

notyou311

Your foot and her ***

Taimoor

I am assuming your daughter is living with you and you are providing food, heat etc. it may be a option to insist she pays a contribution towards household costs, at least you will recoup some money while she saves to move out. Explain you cannot afford to provide all this without some financial help. Legally, unless you have some written agreement signed and witnessed re: the loans it would be impossible to prove. You also have to consider whether its worth damaging your relationship over this amount of money. Needless to say I would not be available for any future financial handouts.

DonnaA

you can work out a repayment schedule with her that you make clear to her you expect her to stick to. you can sue her (but this could hurt your relationship w/ her). as each birthday & holiday rolls around you can forgive a portion of the debt until it's all gone. (Happy Birthday, Darling. I'm forgiving $100 of the debt as your birthday gift. Merry Christmas, Darling! I'm forgiving $500 of the debt as your Christmas present.) I'd definitely refuse to *lend* her any more money. If she's in dire straits & you can *afford* to give her the money to help out then do so but never lend her money again expecting to get it back (as she's shown she won't repay it). Any money you give her moving forward will be a gift. If you can't afford to give it then, oh well, too bad, so sad, guess baby needs to manage her funds better. I know it's hard to tell your kids "no" but sometimes you really need to. She's an adult now and you don't have to put yourself in bankruptcy for her whims, immaturity, & irresponsibility. (point out to her that if you need to save for your retirement or else you'll be moving in w/ her and having her support you---maybe that will scare her into standing on her own.)

Wilma F

You can sue her in small claims court. Not really the best choice between family members. I would not lend her nay more money with out a written agreement and an agreeded upon time line for it to be repaid. Matter of fact, you can draw up such an agreement now for what she owes you , you sign it, she signs it and have it notarized.

KMcG

Tell her what you think about it and how its put you out of pocket tell her if she lent that money of someone else and she hadnt lent it back she would be in deep. Tell about other people who lend money and have to pay intrest. Here is a site that might help ...... http://theadventurouswriter.com/blog/lending-adult-children-money-loan-tips-parents/ Hope I Helped-:)

RosalieHale

there is not much you can do but she is obviously a very selfish person and i would never lend her money again if i were you.

Katie Davis

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