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View Full Version : DH and MIL your loan arrangement sucks!


Binkandabee
04-08-2009, 11:21 AM
Yes, we owe $7,000 in taxes and only have $4,000.00 but why would you go and borrow money from your Mom without consulting me? I'd rather borrow the money from my Mom who is not a tightwad and whose life doesn't revolve around money. Oh, and my Mom wouldn't charge us interest.

That's a nice touch by the way, MIL. Yes, charge us DOUBLE the interest that you are earning on your savings account - you are certainly coming out ahead - and it is still less than what we could borrow from a bank, but this is your son here!

Maybe I'll borrow the money from my Mom and pay MIL back. I REALLY, REALLY don't want to owe MIL anything.
hellokitty
04-08-2009, 11:24 AM
Ugh!!!! That sucks! I would be really PO'd too if my DH did that. Can you just ask your mom instead and pay back mil, so you don't have to deal with her? My mil has a bad habit of attaching a rope to everything that she does for us, so if we borrowed $ from her, we'd pretty much, "owe" her for the rest of our lives, she loves that...
JBaxter
04-08-2009, 11:34 AM
Thats crap... When my mom and dad bought their first house my grandparents loaned them the money at what they were earning on the savings account. You dont make money off your children .
malphy
04-08-2009, 11:42 AM
I would so borrow the money from your mom to pay her back asap. And when you pay her back you should tell her you got a better deal.

Sickening. Sorry you have been put in this position.
niccig
04-08-2009, 08:24 PM
I would so borrow the money from your mom to pay her back asap. And when you pay her back you should tell her you got a better deal.

Sickening. Sorry you have been put in this position.

Do this. And tell DH to NEVER borrow again without discussing it. I would be so hoping mad if he borrowed without talking about it.
sste
04-08-2009, 11:14 PM
Is it too late to undo this loan arrangement? I was talking to my accountant as we too owe money in taxes and he said the interest rate the govt charges is around 4%. That is close to inflation and not a big deal at all. Plus, even if the interest rate was not so sweet, there is a lot to be said for not dealing with Bank of the In-Law.