My wealthy friend wants his £10,000 back but he never said it was a loan
DEAR DEIDRE: A WEALTHY friend gave me £10,000 to settle my debts five years ago.
We had been together at school but he was always a bit of a geek and he’s made his money setting up a computer business. We’re both 30 now.
This money was never a loan. It was a gift and he said so at the time.
He’s now struggling with money as his business has run into problems.
He called me and asked whether I could repay what I owe.
I’ve settled down now and got a mortgage with my girlfriend.
I can’t repay him. Do I have to?
DEIDRE SAYS: If there is no written proof that this was a proper financial arrangement, it would be your word against his.
But it would be a shame to lose a friend who has been so good to you.
Tell him you are not in a position to repay everything, but can you try to make affordable payments to help him out now the tables are turned?