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to ask PIL for £68?

(38 Posts)
sylar Fri 16-Oct-09 22:10:52

We sold our house a while ago and had to split up our equity and put it into various accounts whilst we were renting. The idea was to maximise our interest.

We asked PIL who didn't have isas if they would open isas and we could put our money in (slightly naughty I know but not the biggest crime in the world)

Now we have asked for the money back since we're buying a house and they have given it back - but only the money we inserted, they have kept the interest.

We need every penny for the house move. Its not a lot but every bit counts.

If it were my parents I'd just ask for it but it isn't so I have to leave it to DH who is ignoring the issue.

AIBU to expect it back or does it serve me right for trying to use their ISA allowance?

Genuine question. Am interesed in responses and it will enable me to decide what approach to take.

2shoescreepingthroughblood Fri 16-Oct-09 22:14:27

hardly a big enough ammount to fall out over, and it is his as the account was in his name.

kormaAAAARRRRGGHHchameleon Fri 16-Oct-09 22:15:55

Message withdrawn at poster's request.

sylar Fri 16-Oct-09 22:17:33

I wouldn't fall out with them over it 2 shoes, just ask for it.

They knew the reason we were putting it in the account.

Its just annoying and surprising.

MissAnneElk Fri 16-Oct-09 22:18:14

YABVU. If £68 is going to make a noticable difference to your house purchase, you can't afford it.

larks35 Fri 16-Oct-09 22:18:38

If it were my parents I'd ask for the interest, if my OH parent's I'd leave it up to him. If he doesn't want to ask for it then there's not a lot you can do and it the grand scheme of things £68 ain't a enough to get stressed about considering how much moving costs.

halfcut Fri 16-Oct-09 22:18:40

They did you a favour ..let them keep the interest

Squishabelle Fri 16-Oct-09 22:20:27

YANBU - I would just sound puzzled and ask "Wasnt there any interest on the money". I couldnt let it lie.

preggersplayspop Fri 16-Oct-09 22:21:34

I wouldn't ask. It could be just an oversight, are you sure its deliberate? Its not worth falling out with them for 68 quid.

sylar Fri 16-Oct-09 22:23:00

Well actually they didn't do us a favour did they. We would have been better off having it in the normal taxable account.

It clearly isn't the end of the world but its still slightly annoying. Seems that the majority think IABU though.

My view is probably coloured by the fact that they never paid us the £150 from the holiday deposit they asked to put on our credit card a year ago and the £120 from their holiday spending money when they ran out.

CristinaTheAstonishing Fri 16-Oct-09 22:23:01

What do you expect? You did something illegal, they do something cheeky. Tit for tat.

halfcut Fri 16-Oct-09 22:24:45

aah AIBU by stealth grin

preggersplayspop Fri 16-Oct-09 22:25:43

Seems they have selective memories when it comes to money then! In that case there is no way I would have made such an arrangement with them in the first place. Not that I would have anyway because, as others have said, it was illegal to start with.

sylar Fri 16-Oct-09 22:26:49

Not deliberately halfcut just found myself getting a bit defensive.

I won't ask I'll leave it up to DH to decide.

not lending them anymore money though! grin

halfcut Fri 16-Oct-09 22:28:02

Sorry blush

ChasingSquirrels Fri 16-Oct-09 22:28:03

have they closed the isa or just given you the money (from elsewhere?).
It might be that the interest hasn't been credited to the account yet?

Or they are gits!

ravenAK Fri 16-Oct-09 22:28:14

It was a fiddle to start with. Sorry. YABU.

JustAnotherManicMummy Fri 16-Oct-09 22:29:00

You brought the law and the law won. Well PIL any way grin

JustAnotherManicMummy Fri 16-Oct-09 22:29:53

brought? fought.

So nearly perfect... damn the wine...

MissAnneElk Fri 16-Oct-09 22:30:11

Was it really worth involving them for the amount of money concerned? (ie. either 25 or 40% of £68 depending on the level of income tax that you pay).

hanaboo Fri 16-Oct-09 22:33:20

yanbu the whole point u put it in an isa was because u wanted the interest! don't they realise that?
i would have a word with dh, especially cos of the money they already owe u

ObsidianBlackbirdMcNight Fri 16-Oct-09 22:45:28

Well you must have explained, when you asked them to open isas, that the reason was to get the interest, so not paying you the interest is very odd, yes. It might be illegal but that doesn't really bother me - but to withold the interest without mentioning it, or why, is weird. Sounds like they are money grabbers, which leads me to wonder why you let them look after the money in the first place!

sylar Fri 16-Oct-09 22:46:03

Can I just clarify for those tossing around the word "illegal", it was not illegal.

Legally what we did is give them money and they invested it in an isa which they are allowed to do. The interest then legally belongs to them and they have no legal obligation to give it, or the initial money to us.

However they are family and we expected them to give both the interest and the initial money back.

Just being pendantic maybe but we haven't acted illegally, just on trust and its clearly backfired grin.

Missann it wasn't worth it no but at the time interest rates were much higher and we thought we might be in rented long term.

Will let it rest now and go to bed.

Thanks all

PandaEis Fri 16-Oct-09 22:46:52

i would say YANBU myselfsmile

the interest earned on the money belongs to you as it was a percentage earned on YOUR deposit into the isa. regardless of whose name was on the account the MONEY was always YOURS! your PIL are being VERY unreasonable to even attempt to keep any of the money in that particular accountshock how petty and money grabbing of them to not give you the entire balance backshock

xx ei xx

MissAnneElk Fri 16-Oct-09 22:48:57

The cash ISA which I have only adds interest once a year at the end of the tax year, so it is quite possible that they have no idea what interest has been earned so don't know how much to pay you, but I still stand by my previous post. Is it all really worth it?

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