How a Delinquent Loan Saved Me Money

The sister formerly known as Bridezilla (who turned out to be anything but) borrowed $7000 from me in early 2006 to buy a good second-hand 4WD car to get her to and from college in the Rockies. She swore she’d pay me back within a year, I knew that wouldn’t happen. She did manage to pay me back $1000, and I was happy to defer repayment until she got her first nursing job. She started in early August, got married in September, and I just got my first repayment check for $300. It came folded in a notecard that said, “Thank you for believing in me.”

She has apologized on and off over the years about not fulfilling her promise to pay me back, letting me know she hadn’t forgotten. Well, last year I thanked her profusely for not repaying me on time, because I’d have most likely had the money in the stock market and lost more than half of it. Given my complete lack of luck with long-term choices, I wouldn’t have recovered much in this uptick. So thank you, Newlywedzilla, for preserving my capital!

5 Responses

  1. That’s what I am hoping my relatives I haven’t paid back yet are thinking:) When I borrowed the money, I had every intention of paying it back within two years. The life happened (a job that payed 60K less than I had expected to make, a husband laid off for a year, a nervous breakdown, etc.) and it’s been six years and I’ve barely made a dent in repaying it.

    It’s nice that you’ve been so understanding about your sister. I’ve learned my lesson and I hope she has too – the guilt about not paying back your loved ones is not worth the interest you save by borrowing from them.

  2. I admire the fact that you can loan money to your family without having to eat Ramen for months!

    It’s very kind of you and you always inspire me with your generosity.

  3. Ya know? I have a loan from my dad that I haven’t even started to pay off, for my car. So your NewlywedZilla sister is further than I am (although I bought mine is 2007). I know I need to get on the ball with that, it’s constantly in the back of my mind and I’ll always feel guilty for it.

    But way to look at this from the positive side – that she might have saved you some lost money in the end.

  4. Aww, the note part is very sweet. Sometimes all we need is someone who believes in us.

  5. Wow, I never seen someone so happy for not getting thier money back. LOL. And your such a sweet sis. 😉

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