Guns in repayment of a loan

Deal or no deal?

  • Take the deal, at least you'll get something

    Votes: 77 80.2%

  • Write it off, that money's gone dude.

    Votes: 5 5.2%

  • Tell him that I need the dough, call it tough love.

    Votes: 14 14.6%
  • Total voters
    96
  • Poll closed .
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Not open for further replies.
J

junyo

Member
Joined
Apr 21, 2004
Messages
719
I have a friend who's going through a rough patch; lost job, lost girl, weird family, some health issues. A few weeks ago he was desperate for money and over my SO's objections I made him a small loan, on the condition that it be repaid within a couple of weeks.

Okay, it's been more than a couple of weeks. He finally got a job, and I haven't been pressing him for the cash, it won't break me if I never see it again, but the soon to be Mrs is chewing my ear off. So I call him, and turns out the money that was supposed to be coming my way in going to a lawyer, because he picked up a DUI, his 2nd in 12 months.

Now, he's all apologetic and offering a couple of guns in trade. In theory I could get guns worth more than the loan, however
a) he treats his guns like crap
b) the best gun on the table (an FAL) is of uncertain origins and has had some slamfire malfunctions, which is why I've turned in down in a straight sale offer from him before
c) that's the only one of his guns I'm vaguely interested in owning

I feel bad for the guy, but this is kinda pissing me off. I feel like he's basically asking me to eat the loan in such a way that he doesn't have to feel bad for stiffing me. And that he's in the current jam purely on the basis of irresponsibility.

So I'm asking the internet for absolution, and turning into a reality show.
 
Option 1. If the gun is the only way to get your investment back, take it, pawn it, be done with it.

Option 2 If you don't want the gun, assume you'll never see the money. Forget about it and never bring it up again.

Option 3 is to let it eat at you forever and ruin your friendship.

Option 4 is to (falsely) tell the Mrs. that he paid you back and buy her something expensive to prove it. Other than that, I don't know what to tell you.
 
The DUI was his fault, and his fault alone. If the FAL has questionable safety record, then leave it. Renegotiate the terms and offer an extension on the loan in exchange for interest, and get it in writing. Failing that, sue.
 
Probably best to take the guns, then clean them up the best you can and sell them.

And take it as a lessen about lending to friends. In my observation people who can't get it together financially tend to have cronic financial problems, lending them money never solves the problems, rather it enables them. Not only do they rarely pay you back, but next time they need a "loan" you're the first one they come to.

2 DUIs in 12 months pretty much sums it up - I'd take what you can get from this clown. This might sound harsh but I'd probably ditch him as a friend - friendship is a two way street and he's not a friend to you, he took advantage of you.
 
Last edited:
Don't ever lie to yor Wife. If you don't want the guns sell them and give her the cash. ...Russ
 
I would take the gun(s). Even if your not interested in them, just sell them for what you can get.

I think this is the only way you are going to see any money out of this guy.

2 DUIs in 12 mo?? Forget it. The guy has a problem with alcohol and being responsible. :(

People like that are not likely to payback money if not forced to. I hope it wasn't too much $$.

BTW here in CA a first DUI runs around $7000 to $10,000 after all is said and done. A second DUI?? :what: Probably around 15 grand. Just in case you still had any illusions about getting paid back by this guy.
 
From the info you have given, I would take the rifle. If it can be fixed cheaply (it may just need a good cleaning) and you take a liking to it, then keep it. If not then sell it for what you cant get. I would also not loan him another dime. Lesson learned, move on.
 
This is a tough one.

First, Never loan money if you ever expect to see it again. Unless you are comfortable taking the same money out in the back yard and setting fire to it...don't loan it. When it comes to money..loans are often gifts unless there is some means of security on getting it back. If you had something of collateral that he was REALLY bent on having back...he likely won't repay the loan. Make sure the collateral is REALLY worth 150%-500% (better) of the amount you are being asked for.

Now that being said...taking his junk guns in exchange of proper repayment doesn't serve any purpose. You don't want them...so you will never feel repaid. You will only have been shafted and now stuck with stuff you can't sell. They don't make much of a difference to him otherwise he wouldn't be so freely willing to off them. He is simply looking for a way to make himself feel like he hasn't hosed you. Taking the guns will only let him off easy from an agreement you had made. Once again he will be given an easy out and he will learn no responsibility lessons from that.

He NEEDS to feel a measure of guilt for having hosed you with non payment and must understand that you WILL terminate the friendship if he fails to repay you. THOSE must be the terms.

By the sounds of it...if he is collecting drunk charges...he is not very mature and needs to learn to be an adult. He needs to learn to shoulder responsibility. He needs the means to feel that he can honorably repay what he owes. If he is let off easy...he will never learn to respect himself. If he is not working...then have him work for you...mowing the lawn...splitting wood...painting your house....waxing your car...until the fee is repaid. Settle on an agreeable wage per hour for general labor (something like $10.00). Let him work off his debt. Make him understand that he may NOT show up to work for you while intoxicated or you will send him home. I would only think this labor option valid if he is a trustworthy fellow. If not he will seek to steal money and things from you to support his booze habit.

IN the end you may have to break it off with this guy. Chalk up the loss as "education" and vow to your gal friend that you will never do it again. Sometimes we pay the price for being a nice guy. Some folks with problem lives look for folks like us to support their stupidity.

Life lessons....are never fun.

Cheers
Mac.
 
Either take the guns he has or write it off and let it go and take your ear chewin' but hardly worth hard deliberation. By the way, based on your description, I'd let him go also. Either way, as you said, it isn't enough to miss.
 
it won't break me if I never see it again, but the soon to be Mrs is chewing my ear off.
Click to expand...

You could tell the soon to be Mrs that until she is really your Mrs, it's not her business.
I know I'll get flamed for that but, whatever.
That being said, if you think you can get the amount he owes you out of the guns, go for it. At least he's trying to make it right in some way.
And let this be a lesson to you. It's not a good idea to lend money to good friends. Tell them you've got a lot going on and you can't let go of any.
 
Take the guns and then take your friend to an AA meeting. Tell your wife the truth, you loaned money to an alcoholic.

If he sobers up you might see you're money again. Loan repayment is part of making amends in a twelve step program. I got a loan repaid to me in exactly that fashion.
 
I'd give him more time and get him to pay me back slower than originally planned. But two DUI's is going to be a problem. I wouldn't want the guns.

I have only loaned money to friends or family a couple times and it never goes well. You are the first person they ask for help and the last person they pay back if at all.
 
I agree with most of the above. Take whatever he'll give you, sell it off for what you can get, and cut your losses. And learn from it... don't loan money, period. You're just enabling someone elses bad habits. It sounds like your fiancee maybe saw this coming, having an outside perspective on the situation. Good luck.
 
ARLover hit it: take the guns, try to help your friend if you can, and tell your wife the truth.

As to what to do with the guns, the way I see it you have 2 options.

1) If you need the money, sell the guns 'as is' and try to recover some of your losses.

2) If the money isn't as important to you, have a competent gunsmith recondition the FAL, and sell the rest of the guns to cover the cost of the work.

R
 
A certain fellow in another state has owed me $100.00 since 1979.

Two DUIs in 12 months wouldn't bolster my confidence he'll do the right thing. Take the guns.
 
I voted on the poll, but more importantly, what are you doing letting the "soon to be Mrs" tell you how you can use your money? Run, boy, don't walk away from this one. She's a) already telling you what to do and b) interfering with a friendship with another male. Just think what she'll be like after a few years of marriage.....
 
Take the guns, resell them for what you can get (hopefully enough to cover the debt?) and call it good. There is no realistic chance you will be repaid.

I did this myself (in reverse) when I gave a Ruger Mini-14 to someone to repay a loan. However, the value of the gun was equal to or slightly more than the amount of cash, and he was pleased with it, so I feel no regret.
 
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