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AF needs funding again

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personal problems - parents asking money again

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#1 snowalmondtofu



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Posted 11 November 2017 - 05:20 AM

My parents recently owned a joint business (small family eatery establishment) with his old former boss from a long time ago and 3 people signed a contract together , and contract indicates lease ends in 5 years .  I don't know much of the details but recently the business was slow and insufficient cash flow, the boss decided to close the business.  The lease hasn't end yet so my family was saying if it goes to court, each of the 3 people has to owe $10,000.  And I am have previously lent my family 10k just a few months ago when the eatery was still open.  I was already quite upset at the time because I don't have a lot of savings myself (my job doesn't make that much and my rent is already 1 paycheck).  Now they are saying they might need to ask to borrow 10k.  I got so upset this time, it's like a devil possessed me but basically I was so upset, so I said am i a money machine...how much more after the 2nd time around of loan.  I'm going to kill all of you...i went a little far but how can they keep on taking money from me.  I decided to not lend this time, even if it means disowning me and not seeing them again.  I don't even know if the first 10k will ever be given back so how can I lend out another 10k and like I said, I don;t have a lot of savings.  What made me upset was my mom said the money is just sitting in my savings account.  Are they vampires trying to suck my savings account dry.  They are my parents..but I see this as no respect for me at all.  They made the wrong decision to join the joint business.  They have to learn their lesson this time.  I already helped them 10k.  Any advice on anyone who experienced this . They don't understand since I lent out the first 10k, i have been worrying about money every living day.  It's not just money sitting in my savings.  I can understand if i have 100k or more in my savings..  I'm not a nurse or a doctor like their friend's children.  I'm only doing clerical work at at medical insurance company. 

#2 muta



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Posted 11 November 2017 - 07:44 PM

Well, I'm in a similar situation. I lent money (more than 10k) to my parents to fix their house and I paid their property taxes every year. Since then, they never even mention the money. I know that I will never get the money back. Lucky I make a good living and can afford to do this.

#3 Dave Goodmen

Dave Goodmen


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Posted 11 December 2017 - 12:46 AM

You are not obligated to pay your family and I wouldn't if you are not comfortable with this. They must have the consequence of business, and worse come to worse they need to sell asset like remortgage the house. 

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