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 !!!

Weird as fuck.
They are obviously paranoid someone is watching their bank because they are involved in some dodgy dealings 😑

Is it your parents - and is it a way of getting you to visit them?

I would accept the lenders need for cash but I'd not accept the monthly 6 hour round trips and I'd deliver in 4 months

If there's other family more local to them can you transfer to them and they deliver in cash?

Tell them they are bring ridiculous and if they insist on you bringing it up you will only do it if they give you their written agreement that the cost of you doing that will come out of the repayment so you'll come up and hand over the money minus all your travel expenses.

I wouldnt even drive up in 4 months. Batshit behaviour. They accept it in the bank or wait until they collect or or until I'm up that way again.

few options

tell them you can do that but need to deduct travel expenses given that its 6 hrs of driving

find someone local to them that can deliver in your stead

can do a cash delivery BUT with a deduction for cost of delivery by secure post etc

send them a picture of the cash and say its sat waiting and when gets to 1k will deliver

Frankly its an unreasonable term and added after so even if they went to small claims which is prob their only option they would be told as much and told to accept direct payment

I suspect this may be due to them getting benefits of some kind and this payment being classed as income by DWP etc

Keep the money to one side and give it to them when you next see them.

I would NOT be going up there especially as they are totally unreasonable.

Hopefully you won't need to borrow money from them in future.

Maybe it's so the tax office doen't think it is revenue.

I'd put the money aside and deliver it in one or two trips, or meet conveniently in the middle.

Could they be trying to conceal the money from a controlling partner? Are they in plenty of debt and if it goes into their account it will come out automatically as part of a payment scheme? Her bank account could be being investigated? I can't really see why else she'd refuse a transfer.

Either way it's a right pain in the arse. Tell her you'll post it to her, signed for special delivery. But deduct the cost of the postage from the amount you give.

No it’s dsis

I think I'd just continue to use bank transfer, since they've given you no explanation (which could be reasonable) and are refusing to compromise. I know it was good of them to give you the loan, but you are repaying as originally agreed.

I think also, as others have hinted, they may want you to visit once a month or something.

Tax shouldn't come into it, and I can't see how it would affect benefits if they had it in the first place to give you!

Is she on benefits?

Pay the money onto a prepaid debit card and send them the card.

If it was transferred to you by bank transfer then say you need to repay in the same way so that there is a record of repayment else she could say you did not repay.

Hi, OP -

What do you think of the possibility raised by PP that this is the lender’s way of getting you to visit? There is an element of pathos in that scenario . Especially if we are talking about your parents.

If you can’t do it, can you invite them to come to you monthly to collect the money?

Leaving the possible element of lonliness, however badly expressed, aside, I agree it is a crazy demand you are under no obligation to fulfil if it was not part of the original agreement. But if the lender is worried about something you might be able to ease their mind if you probe gently. Or just give them cash at the end of the loan term, earlier if you can.

I’m guessing it’s an older sister. Is she worried about you for some reason? Maybe she couldn’t really afford it and is concealing it for some reason, or maybe she’d just like to see you?

Lots of great advice here - if they try to accuse you of withholding the money emphasise the point that the money is available, you just can't agree to travelling several times to them with it but they can have the agreed amount today by bank transfer.

Without knowing the people involved this definitely sounds like a power / control thing. Understand that it's family & you may want to remain on good terms with them but they don't get to treat you like a puppet.

This is what I would say.

Either they’re trying to control you into visiting them or they’re trying to avoid the transfer of money into their account for some reason. Or they’re trying to make it difficult so you don’t ask them again.

That's the weirdest power play strings with money I ever saw. Bravo

That's fine. Take out the money, take a photo and send them the photo. Tell them they're welcome to come and get it or you'll add to it every month and wait until you see them next.

If it was me, I’d go once at the end, if I could afford it. It’s unreasonable to add in extra conditions after you’ve agreed the loan - but presumably it would be nice to see her. If not, then send it as cash in the post as small regular amounts, or transfer it to someone local who could take it to her.

Was is your relationship with your sister like?

Does she have a spouse or someone that she wants to hide the fact that you are repaying the money from? Maybe she plans to keep it as a runaway fund?

Either way it is crazy to expect you to drive that way.

The prepaid card might work. You could get one in your name and put the first batch of money on it and send it onto your sister. Have the card frozen until your sister gets it and then unfreeze it and give her the pin. Then you can top it up each time you are due to make a payment and she can take the cash out of the ATM.

re benefits - if she had it in the first place and then wants cash for pyts its to avoid it being seen and counted as income rather than savings where it currently is. Yes they DO do that

I bet it has to be benefit related, she likely doesn't want anyone seeing £250 a month dropping into her account and it being seen as earnings.

I find it hard to believe it's just that she wants to see you, otherwise surely she would have just said so and surely she would appreciate asking someone to do 4 x 6 hour round trips in 4 months is utter madness.

All the cash in one go in 4 months or...do you have any family near her that you trust? you could transfer it to them and ask them to withdraw it and take it to her.

Make sure you record handing over the cash somehow when the time comes, signed receipt, video proof etc.

Are they in receipt of benefits and concerned that this will look like income to the snooping eyes of the DWP with new powers of bank surveillance?