Meet the Other Phone. Flexible and made to last.

Meet the Other Phone.
Flexible and made to last.

Buy now

Please or to access all these features

Relationships

Mumsnet has not checked the qualifications of anyone posting here. If you need help urgently or expert advice, please see our domestic violence webguide and/or relationships webguide. Many Mumsnetters experiencing domestic abuse have found this thread helpful: Listen up, everybody

Being insecure with my boyfriend (financial issue)

45 replies

wendymardy · 03/07/2022 14:18

I've been in a relationship with my boyfriend for 5 years, didn't plan to get married yet but we are comfortable with our current zone. We have a good chemistry, we love each other, and always have fun together but not when it comes to money as we always argue when talking about it. We both are working but I earn more than him.

I am very strict when it comes to financial and very sensitive when someone's asking for a help in form of money as I had bad experiences with it. I got cheated multiple times when I tried to help.

Back to my boyfriend, the first year of our relationship, he helped me a lot when I was short of money but he also complaint a lot. On our 2nd year of relationship, that was when I started having a stable job with stable economy, so I was paying off what I owed him slowly. But years ahead, when all my debt cleared, he was still asking money from me, borrowing actually, but never pay me back. At first I was fine with it as I always felt in debt since he helped me a lot when I was having a financial crisis although I had it all cleared out. One day, he asked for my help to make a loan from the bank but under my name as he was not eligible to apply for a personal loan. And it was for his mom. Since it was a big amount and I was aware of the risk so I didn't help him. But in the end I still did it for him after he asked multiple times (asking in different years). I did tell him that I won't help him to pay any cent of the loan and he agreed with it. No black and white.

Years passed by, my financial gotten better and better (he knew it) and every time when I was with him, my money would become his. Paying food and goods using mine. So I felt very unfair and did talk about it to him. I told him I helped him enough already and asked him to manage his financial as it was affecting mine too much. He actually did listen to me and only borrow when he really need it. But still there were times when he didn't pay back which got me still upset about him. But of all those, what I upset the most is the loan and it made us argue every time when talking about it. It was because he didn't pay as he promised, always paid late, not being able to pay for few months, and I had to clear up for him. I even helped him pay like 5% of the installment to lighten the burden. Everything is not as what we agreed. Recently we argued again because of it and I ended up asking him to apply a personal loan under his name as he is now qualified, to clear up all the outstanding amount so he will have to still continue paying from his side without involving me.

Honestly, idk how he felt and see it but from my perspective, he was angry. He said, "It's not that I don't pay. Just a small amount short and you went bla bla bla". I mean it doesn't make sense to me. Since it was a small amount so I can pardon him and ignore? Even the bank will ask for that small amount so why can't I? I don't know anymore. Am I too obsessed with money? Am I the wrong here?

I really want to save my relationship but when it comes to this, I really can't imagine how our marriage life would be like.

OP posts:
Fluffycloudland77 · 03/07/2022 22:12

Oh lord, that’s a huge amount of money.

wendymardy · 04/07/2022 02:11

Fluffycloudland77 · 03/07/2022 22:12

Oh lord, that’s a huge amount of money.

Ikr but I tried to believe him as he still showed the good side, being positive about it sometimes. I keep on thinking, maybe he was trying his best but I kept on forcing him to his limit. It's just that I failed to understand when he questioned about why I kept on being so noisy and making a fuss when in fact I only tried to remind him about what he promised.

Guess I will do as what @HollowTalk said, I'll stay with him until he paid off all then I'll decide what to do next. Honestly I still love him very much but if he really is using me then I don't have a choice but to leave him.

OP posts:
mackthepony · 04/07/2022 02:32

Financial issue?

It's 36 grand!

Coolhand2 · 04/07/2022 02:52

I would push for him to get a loan and clear yours. Your relationship will feel different if no one owed anyone, and no resentment. Then you can make better decisions if you still want to be with him.

Imogensmumma · 04/07/2022 03:03

That is a huge loan!!

stop lending him money full stop otherwise you are basically repaying yourself!!!

You are too nice op, much to nice and you need to think long term if you were to have a family with this man would it all be left to you and the mortgage behind in payments.

There doesn’t seem to be a future he needs to get a night job to get this paid off faster

Bollindger · 04/07/2022 06:27

You actually do have him over a barrel , you just don't realise it.
You tell him you are 100% feed up of having to deal with this crap about the loan.
He has 3 options.
1st He gets a loan and gives you the money, as much as the bank allow him to take.
2nd Print out a valid agreement for the remainder. This is to be paid on HIS payday.
3rd He can refuse, and he can go and you will sue him for the money.
Tell him you can't deal with his financially shit anymore.

UserError012345 · 04/07/2022 06:49

OP, you said you've been cheated in the past but you've put yourself in the same situation again. No boyfriend worth it, would ask you for money w even on a loan basis.

Does he have a plan for repayment?

I really hope you get the money back.

OnaBegonia · 04/07/2022 07:00

The loan is in your name, he could walk away and leave you to pay. I'd get hi to sign a repayment agreement asap.

Shinyandnew1 · 04/07/2022 07:04

Blimey, the most I’ve ever lent someone was about £80!

£36k?!

What Is his salary?

Ariela · 04/07/2022 08:06

Given the vast sum outstanding, you really need him to step up and either get his own loan to pay you back or over-pay so the loan is cleared sooner. Very much sooner.

In this current climate you need this debt paid off sooner rather than later, I think it would be fair to tell him you think it would be good for him to have his own loan so that it will increase his own credit score and thus further borrowing potential should he need to help his mum again. Make all the debt his problem, it certainly isn't yours.
Get shot of the debt, then get shot of him.

wendymardy · 04/07/2022 08:12

@Bollindger I hate to admit it but guess that's how it is 😞
Thank you for the advices. I have enough proof to sue him. I'm also now preparing the written agreement in case he doesn't want to make a loan to clear out mine as what you mentioned in the 1st option.

Also thank you everyone for your support. It's too late to feel dumb and regret but I will not be able to make up my mind if I didn't share my story here and get feedback from you guys. Thank you!

OP posts:
notapizzaeater · 04/07/2022 11:28

Have you watched the tinder swindler ? It shows how they draw you in till you're in so deep !

What's his salary ? Could he even get a loan for this amount ?

Hoppinggreen · 04/07/2022 11:38

You took out a loan in your name for him to give his mum?
Does she even know the money came from you?
This man will bleed you dry, you need to dump him and take him to court to try and get some money back but if he hasn’t got any then you will be repaying that’s loan all on your own

fruitbrewhaha · 04/07/2022 13:21

I think you would have a very difficult time of trying to get the money from him if you tried to sue. It's over the small claims amount, and he could say he can only afford £100 per month and you'd probably be stuck with chasing him for the rest of your life.

How much does he pay off each month and how long is left on the loan?

I would look at doing everything I could to expedite paying it off.
I would tell him he needs to make payment on his payday and also to pay you back any extra he has been borrowing.
I'd also try and get him to overpay.
Maybe you could say you want to save for something together to get him to put some money into saving. I'd do what I could to claw back as much as possible.

Pinkbonbon · 04/07/2022 13:49

Holy shit op. You owe 36k because of a man?!

He doesn't owe it if its not his name on the forms. If it'd your name or you are the garanteur...you're fucked.

You need to get some independent legal advice fast.

Agree with pp who mentioned the tinder swindler. This man is a con artist.

I think you need to come up with a plan to get some of that money back from him ASAP before leaving.

You might be able to take him to court if you can prove he is the one that benefitted from the loan. You ideally need him admitting in writing that he owes you it back too (even a text might do).

Seriously op he has well dropped you in it. He doesn't have your best interests at heart. You are going to have to play this really smart.

MissConductUS · 04/07/2022 13:55

Although he got good earnings, he was still unable to pay the installment and when I asked him it was because he gave money to his mom like half of his earning.

I hope you realize that he is actually giving his mom your money. I'd bin him. His mom will always have the first call on his money. Giving him money is like pouring money into a bucket with a hole in the bottom, and I don't see that changing.

wellhelloitsme · 04/07/2022 14:19

Oh god OP that's so much money 😞

What's the current repayment plan - how much is he giving you a month?

I agree with PP I would pay for a one off appointment with a solicitor to at least see where you stand legally. This is shaky ground and you need professional advice regarding whether you could pursue a claim or not. Don't tell him you're doing so.

Dery · 04/07/2022 14:34

“I would look at doing everything I could to expedite paying it off.
I would tell him he needs to make payment on his payday and also to pay you back any extra he has been borrowing.
I'd also try and get him to overpay.
Maybe you could say you want to save for something together to get him to put some money into saving. I'd do what I could to claw back as much as possible.”

This. You’re liable for that debt because it’s in your name. The lender is legally entitled to sue you for it. The lender won’t care who benefited from it.

Recovering the money from him forcefully (ie through court enforcement) will be expensive, lengthy and difficult and you may well not get back anything like what he owes you. You will need to play it very clever while he still thinks you’re a team to get this back from him.

You’ve experienced financial exploitation before. Please make this the last time. It’s not normal for people to borrow large sums of money off other people. And even if you had this properly documented, getting the money back from someone with limited means will always be difficult. That’s why banks put charges on people’s properties and if necessary repossess the property if a debt remain unpaid.

Dery · 04/07/2022 14:38

As to whether you could pursue a claim, you may be able to prove that this was a loan to him if you have, for example, messages which show this was the case. But even if you succeed in your claim (and that will most likely be a long and expensive process), you may not recover all the funds from him since it will always depend on his ability to pay and whether he has a salary or assets you could enforce against (eg a car which could be seized and sold etc).

So much better if you can get him to pay off as much as possible while he thinks you’re still a team.

And then bin him.

70kid · 04/07/2022 15:09

WTF I thought you were going to say 5 -10k

you borrowed 36 k - well more than that to give to your lazy ass boyfriend

man - you need to see a shrink or something
get your head out of his ass and smell the bullshit

I bet he will break up with you in order not to pay the loan back

New posts on this thread. Refresh page
Swipe left for the next trending thread