How long would you say a debt to someone is valid??

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Feb 23, 2010
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I'd like to know how long you guys think a debt is good for..

here's the deal: (in short)

6-7 yrs ago me and a couple guys painted the inside of my cousins house he had just bought..

I paid for all the paint and labor, being it was my wife's cousin and the fact I was really busy back then I just never billed him, however he understood it would be around $1300, and also realizes it wasn't a gift nor a favor..

I'm looking to collect in trade for his services and wanted to hear what you guys thought about me asking to collect on a debt he's probably long forgot about.

Just wanted some feedback before I hit him up, hes now states away and I haven't really talked to him in years.
 
Honestly ,the debt (if you're not looking to collect interest for your lost opportunity cost) should be equal to the principle ($1300) + inflation (for the past 6-7 years).

This could obviously become problematic as people like to think that there should be a "statute of limitations." on debt. However, you supplied a service which he didn't pay for - he should be obligated to pay it. It was a bit of an oversight on your part not to make a formal contract at the time of service rendered, but if he agreed to it, he should have to pay it. I have a firm rule with myself due to scenarios like this: NEVER LEND MONEY/SERVICES to friends or family. It's just asking to get burned and ruin a relationship. If a good friend or family is really having a tough time, I might GIVE them some money or help as charity, but as an investment/business proposition, never.
 
What exactly is the service you will be requesting him to perform? Are there any material costs involved?
 
I look at it like this, if you do him a "favor" he owes you a "favor" indefinitely unless you screw him over in some way. i.e. a friend does me a solid, I owe him a solid unless he does something to end the friendship, in which case screw him. If I borrow money from somebody, I pay it back ASAP, and it's top of my priorities till it is paid back. If I loan money, I decide before I loan it (and recommend this to others) a couple things. 1. If I loan the money the person can do whatever they want with it. That way if I loan somebody money to pay their power bill and then see them going out to dinner, hey, they asked to borrow the money it's theirs. otherwise if you know they're that type of person and going to come back again (doesn't this almost always happen with family, and it's harder to say no to them) then pay the bill for them directly. 2. second but most important, don't loan it if not getting it back will affect the relationship. I loan money with the internal understanding that the loan might convert to a gift. the relationship is more important than the money. if the relationship is less important than money, well they're not the type of person I'd loan to to begin with.

Now, you're talking about something that was done as work and was agreed to be paid. But you never billed him. Had it been me, I would have paid you anyways so I didn't have that outstanding debt out there. Does he still owe you based on what's right, sure, but you haven't talked to him in years (I don't know, business wise there probably is a statute of limitations on debt)? Likely he's going to be pretty surprised and not happy to get a contact out of the blue reminding him of it and wanting the money. I don't personally have 1300 extra dollars laying around, maybe he doesn't either. Would I still pay it if it were me, yes, I like being square. Most people I'm guessing won't think they have to pay it. Now, if he has something he can do for you for the trade/services, that might be much more palatable. I had a buddy rebuild a carburetor for me a couple months ago and frankly was sweating a bit as to what it would cost as like I said, I don't have lots of extra cash around. However he wanted to trade out for my computer services. I was happy about that.

Don't be surprised though, if he wasn't inclined to remind you he owed you money back then he's probably not going to be enthusiastic now about making right on it. And really, you should have billed him. It's great at the time you were doing so well you didn't need the money, but I'm always amazed when people don't take the time to bill. We had a contractor do some work at my office, he had told me how tight things were, construction down etc. he waited 6 months to bill us!

you can give it a shot, sounds like there's no relationship there any more to damage if he gets angry and things fall apart.

Red
PS
IF the guy is a knifemaker though, then his ass owe's you forever and must pay in knives! Any knifemakers out there that need favors that they want to repay in knives contact me!!! :D
 
I wanted to add, it is interesting the difference in how women look at things and guys where "debt" is concerned, and they really don't understand the favor thing at all. While not every thing a buddy does for a buddy is a favor, when you're good friends you naturally do things to help out. but there are "favors" and women don't understand that to request one is to owe one, and all that entails. anyways, I know I've had to talk to my wife and female friends before when they are not understanding what they're asking for me to get done and what it involves, or when I am going to do something for somebody and they don't understand why.

I think a whole thread could be started just on the man rules regarding favors. :)

Red
 
It depends on a lot of things. If I owe money, I pay it back asap, even if it takes forever. If I am owed and the other person does not need reminded to make good, I am more lenient. If you owe me and dispute/debate the amount or otherwise pretend it didn't happen, it says a lot about your character and your value as a friend. If the person is up on really hard times, I will sometimes just forgive the debt.

I once made the mistake of loaning a couple hundred to a girlfriend's brother. He promised to pay me back on payday...every Friday for over a year. Never saw a dime. OTOH, I loaned my brother $500 back when he was in high school so he could participate in prom nonsense and he paid me back in a month in either cash or work on my computer/doing my share of work around the house.
 
You might say, "Hey bro, remember me painting your house and I never charged you? That cost me $1300. You want to pay me back with some free landscaping [or whatever it is] . . . ?"

If he says yes, then cool. If he blows you off, then you just eat it because its been so long and you haven't tried collecting.

Thats just what I would do. And emulating me is never a bad thing. :yawn:
 
Forever, any deal one makes as a Man should stand the test of time! For one only has his word as bond in this life!
 
How long would you say a debt to someone is valid??

Till it is paid!

However, there are laws governing such matters, though I don't think you were looking for a legal perspective.
 
You might say, "Hey bro, remember me painting your house and I never charged you? That cost me $1300. You want to pay me back with some free landscaping [or whatever it is] . . . ?"

If he says yes, then cool. If he blows you off, then you just eat it because its been so long and you haven't tried collecting.

Thats just what I would do. And emulating me is never a bad thing. :yawn:

I would give this a shot. If he says no, I guess there is really nothing you can do. Since you are states away and haven't talked in years it is probably going to make it pretty easy for him to blow you off. It might be different if he had to see you all the time.
 
What exactly is the service you will be requesting him to perform? Are there any material costs involved?

I want him to build my website he doesn't have to service it just build it..

Lot of good responses here.. this is the reason I wanted to ask some fellow steel junkies..

back then he just got married, bought a house etc.. I had a couple days to spare with one of my guys and we blew the job out real quick.. back then he wasn't building websites, but now I've noticed he's done a few..

we're 1400 miles apart now as I've moved and we really don't talk anymore.. hes a pretty stand up guy but there's more to the story I just wanted to give the short version.. I intend to email him tonight and see whats up since its my lucky day today..:D

we'll see what happens, then I'll fill ya in on the full details..

thanks guys..
 
Typically, in my business experience, once the debt is one year old or older it becomes painfully difficult to collect, especially if one is in a new fiscal year. Some judges feel that you are not a good business owner if you let a debt go uncollected for that long.

If it's not retail or a point of sale business, most service providers allow up to 90 days for payment, and after that start charging interest on the unpaid balance. Usually at the 150-180 day mark we are sending info to the collection attorney.

I realize this is a deal with relatives, but if there was no agreement on terms up front I have to agree with others that you will have a tough time collecting.

Good luck.
 
I guess I would expect not to be charged for his time. I don't have any idea what the scope of the work is in your case. It has been a long time and it sounds like you have fallen out of communication. I do not think you should expect him to pony up any cash. Then again, he should probably understand that you made a cash layout (paint/labor costs) all those years ago. :confused: One good turn deserves another.
 
It's probably a nagging sore spot on his conscience, if he's a halfway decent guy. I know if I had something like that hanging over my head, I'd stress about in some way until it was taken care of. I'd bet he would be more than happy to pay back the debt in a non-monetary way. You will probably not make back your due let alone any "interest," but rather than take a hit and forget it, you owe it to youself, and your wife's cousin to find a way for that debt to be paid. Get what you can out of it. Who knows, he may have been saving up for it all this time (yeah, right!) but either way, it may be a chance to start a good friendship.
 
You might say, "Hey bro, remember me painting your house and I never charged you? That cost me $1300. You want to pay me back with some free landscaping [or whatever it is] . . . ?"

If he says yes, then cool. If he blows you off, then you just eat it because its been so long and you haven't tried collecting.

Thats just what I would do. And emulating me is never a bad thing. :yawn:

As always, the Noodle speaks much truth.

I would make it kind of a semi joke "Hey, remember all that work I did for you and never charged you for? I know it's been bothering your conscience that you never had the opportunity to repay me....well now's your chance!
 
I want him to build my website he doesn't have to service it just build it..

How 'bout if you just ask him to build your website? Don't say anything about painting his house. He hasn't forgotten it. Give him a chance, and don't spoil it by starting off reminding him he owes you as if you think he's some kind of ingrate.
 
How 'bout if you just ask him to build your website? Don't say anything about painting his house. He hasn't forgotten it. Give him a chance, and don't spoil it by starting off reminding him he owes you as if you think he's some kind of ingrate.

I agree with CA. Provided that he still lives in that house, he's reminded of your job every time he sees one of his walls :D. Give him a chance and see what happens. Keep us posted.

-Nadz
 
I wanted to add, it is interesting the difference in how women look at things and guys where "debt" is concerned, and they really don't understand the favor thing at all. While not every thing a buddy does for a buddy is a favor, when you're good friends you naturally do things to help out. but there are "favors" and women don't understand that to request one is to owe one, and all that entails. anyways, I know I've had to talk to my wife and female friends before when they are not understanding what they're asking for me to get done and what it involves, or when I am going to do something for somebody and they don't understand why.

I think a whole thread could be started just on the man rules regarding favors. :)

Red

Hey hey hey hey hey!!!! Don't be throwing all of us women in the same basket. However, I understand your point. Especially when the wife thinks that you should be happy to volunteer your services. Many women do feel "entitled" to free handyman service from male friends, 'cuz after all, they are just "a helpless female." That's B.S. But it works for them. They just don't realize how it bothers some men. On the other hand, there are also men who have no problem helping out women who don't know how to do standard repairs, etc.

20+ years ago, when I was taking care of my grandma, my best friend's husband was a handyman/electrician. There were times I needed something repaired at the house, so I would call him. I always expected to pay his standard rate. But my best friend would nag him and tell him he should do it for free and that really would get his dander up. I always paid.

My painter at work offered to paint my living room and kitchen a few weeks ago. He didn't expect to get paid. Afterwards, as I knew what he had charged a friend to paint 2of her rooms, I wrote him a nice thank you card and included the same amount inside. He walked into my office the next day with a huge smile on his face and thanked me. He had told me up front that he had stopped doing side work (he had), and he was bored on the weekends, so he didn't mind doing it. And that was all true. But my mama taught me to pay my own way in life.

Last weekend my boss came out and installed 4 motion detector lights and 2 porch lights (exterior had been repainted and light fixtures had been removed). Did I pay him? Heck no. We've been together for 22 years, and this is the first time I have ever asked him to come over and do handyman work. Actually, it was sort of HIS payback because during our first 10 years together, I used to dog-sit his dog for several weeks at my house while he and his family went fishing in Mexico. Every summer I did this. They always brought me back a nice thank you gift from Mexico - which was cool.

I even had a friend of mine on a monthly retainer to be my handyman. I paid him the daily rate that he charged. He painted the exterior of my house and did the repairs that went along with it. Whatever I needed done, he would take care of it. He kept the log of hours (I trusted him), and he received a check from my bank every month. AND... I paid him bonuses.

And I don't make a lot of money, so it wasn't like I am flush. I don't take advantage of people. Even if one of the maintenance guys at work fixes or makes some little thing for me (not coming out to my house), I always buy them a 12-pack of soda and a case of popcorn. But it is rare that I ask them to do anything for me, because I'm NOT their wife or girlfriend, and just because I work for the big boss, it doesn't entitle me to personal favors.

And if a female friend helps me out with something, I usually treat them to a nice lunch or dinner, because women usually won't accept money to help out a friend.

Just my opinion. :D

TJ
 
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