Excuses People Give to Avoid Repaying a Loan

Most of us have been in situations where we had to either borrow from or lend money to friends or relatives. It is better to give rather than advance someone money, because chances are you will never be repaid. Even if you have that person sign a promissory note, getting your money back may be like trying to pull molars out of a rhinoceros. Many friendships have been destroyed, and misunderstandings have occurred among family members because individuals have a tendency to develop a mental block when it comes to paying back their debts. And there are those who will deliberately start an argument, never call or speak to you again or disappear just to avoid paying you back. When payment is owed, the explanations that people will provide, as to why they haven't made good on their loan can be quite amusing. Following are some of the most common excuses that borrowers have given to avoid fulfilling their obligation:

I never asked for or borrowed any money from you.

You knew my financial situation.

There was no contract to repay you.

My tax refund has not arrived yet. Chances are there was never any reimbursement. This is always the catch phrase that people will use to keep your money in their pockets.

An unexpected emergency came up, or I had to leave town. Really!

I'll be coming into a big settlement from an accident. Well if that was the case, why did they have to come to you for a loan? Why not borrow against this huge windfall coming their way?

It was a gift, not a loan.

You told me not to worry about paying you back.

I tried to make payments, but every time I came to your home, you were never there. Of course, it never crossed the person's mind to mail you a check or money order.

You said, when I get back on my feet, I can pay you back. Chances are the person will never get off their back.

We are family; how could you ask me for the money. Isn't that what families are for, to help each other in times of need?

We have been best friends for years; why are you now asking me for the money?

It is not as though you need the money. You have a great job; you're making more money than I'll ever make.

What's the rush? You can wait for your money.

The raise or promotion that I was expecting fell through.

I have important bills to pay, just as you do. You'll have to wait for your money.

I came into a large inheritance, but it has to go through probate first. It may take months before I see any money.

I performed odd jobs or improvements on your residence. This surely makes up for the money I owe you.

None of these lines have validity. If a person borrows money from a bank, these reasons for not repaying a loan would never fly. Why should these justifications be acceptable by the lay person, who was gracious enough to provide the money? So, to avoid upheaval in your life, never lend cash to anyone, unless you understand that you will never see that money in your lifetime.