If you want a loan repaying then you can’t decide you’ll only accept cash ?

[Shouldbeeasy]

I was loaned £1000 by a family member. The agreement was to pay it back £250 a month for 4 months. It was transferred to me.

I made the first repayment text to say I’d done it then get a message back that they’ve sent it back and I’m to deliver cash each month to them . They live THREE hours away. This was not agreed and I don’t understand but each time I say no I’m only doing bank transfer they won’t accept it. So now I don’t know what to do and I cant do a 6 hour round trip every month for 4 months !!!

Say ‘I can’t travel up to you every month, so you’ll have to either accept the bank transfers or write off the money’.

Send it special delivery

“I’m sorry, I cannot travel up to you every month. To remind you that would be a 6 hour round trip without stopping, as well as costing me a lot of money in travelling expenses. I’ll visit once in 4 months time with the full amount.”

Or option two - they come and collect the money from you if for some reason they can only accept cash.

So there are two choices - bank transfer, or they collect the cash.

Is this some weird kind of controlling move? You have to visit them?

That’s just mean and unreasonable on the face of it… unless there is a reason they want cash? Even so I agree this should have been stipulated before

Are they worried it will affect benefits or something like that?

This is what I’m wondering it’s just very strange and not a logical way to do it !!

I would do this, personally. Just put the money to one side every month and deliver it all in one go (and don't borrow money from them again if possible!)

Yes I think I’ll have to do this as I really don’t have the time

Oh yeah lots of good alternatives. Whatever you do OP, DO NOT give this person the satisfaction of making you run up and down to them every month! Don’t do it!!! If it has to be cash (it doesn’t) the special delivery was a good idea. My fave idea though is make them travel to you every month 🙂🙂🙂

"I can't afford the time or expense of travelling every month. I can either do a bank transfer of the monthly amount, you can collect or I can bring you the full amount in 4 months time"

When you do make the visit deliver it in 1s and 2s

Is it a tax dodge? Are they self employed or a business owner? They’ve classed your ‘loan’ as an expense to decrease their tax bill?

"I can't do that - so you can either accept the bank transfer or we'll write it off completely".

They either allow the transfer at £250 per month as agreed or they can wait 4 months and you will bring the lot to them in cash...and i'd still be pissed at having to do that.

What's their problem? why are they being so awkward? it's not even like they gave it to you in cash to begin with ffs.

Ask them to explain why they want cash. We can only guess at their reasons.
It sounds dodgy, but may not be. They may believe that they will get taxed on the repayments, something like that. If so you'll be able to explain that they won't be taxed and offer them a signed statement that this is a repayment for a loan.
If they won't say why they want cash, I would just say sorry you can't drive that far each month, and continue to transfer the payment as agreed originally. But if they insist on collecting it instead, make sure you get a receipt each time so that there is no possible question of whether you've paid it back in full.

Ask for a receipt if you give it in cash - they seem weird enough to deny you've paid it back.

Nope. If you pay in cash you'll have no proof that you paid them back.

Are they likely to have applied for or receive UC? If so then they don't want it to look like they have additional income.
If they insist on cash just do the trip once at the end of the four months and never borrow from them again.

Could you send it via Western Union or something similar? If they are self employed they maybe concern that they will get taxed on that?

First post nails it

They won’t explain why and for years we’ve done transfers for things like the dc birthday and Xmas gifts so I just assumed it would be the same but it seems to be a major problem . I’ve messaged to say In 4 months ill be up with the full amount so waiting for a response

Given how difficult they're being I'd insist on bank transfer. What happens if they deny having been given the cash further down the line?

I would assume it is in the hope of your visiting every month.