A 100$ "loan" gone bad

[Belok]

So a LONG LONG time ago I lent this guy 100$ on partypoker. Id remind him of the debt every couple weeks and he'd always have an excuse. One time he even told me he couldnt afford to pay me back because his girlfriend needed an abortion. BS if you ask me.

Anyway, this was back in august '04 i believe. After January i pretty much gave up hope of giving it back. Recently he started talking to me again and invited me to a 100$ buyin game he is hosting. The game is this coming Monday. I reminded him of his debt, once again, and he dodged around it and changed the subject.

I'd like to be on decent terms with the guy, He hosts alot of 100$ buyin live games that are full of idiot college kids. And he isnt all that bad aside from completely blowing off my 100$. But I want my money back as well.
After inviting me to the game he specifically told me not to bring up the loan subject as it would be unprofessional. As shady as it was to say that, i somewhat agree. I wouldnt want to come out and embarass him at his own game.

So what advice would you guys give. Say goodbye to the 100$ and take advantage of the extremely weak 100$NL game? I probably wouldnt attend it enough to make it worth 100$, but it is a decent option to have.

Thanks.

Btw - the guy has asked me for 50$ stakes on party countless times after the initial loan, and seemingly forgets about the loan until I mention it. I have a nagging suspicion he has recieved money from alot more people than myself.

[BoxTree]

Someone mentioned in the Psych forum (I think) that you shouldn't loan an amount greater than you'd be willing to give permanently. That way, if you never see that money again, it's no big deal.

Forget about the $100 and don't do it again if it bothers you.

[RustedCorpse]

a) It's just a hundred, I mean I'd probably just let it go and never lend him money again.

b)If I lend money I consider it a gift, if I ever get it back it's a plus, but never ever plan on being paid back, unless its written down and witnessed or something.

[BoxTree]

[ QUOTE ]
a) It's just a hundred, I mean I'd probably just let it go and never lend him money again.

[/ QUOTE ]

Well, I don't know if it's just a hundred. I don't like giving just $5 to some guy on Party. But yeah, your point holds: let it go and never lend to him again.

[jar]

[ QUOTE ]
a) It's just a hundred, I mean I'd probably just let it go and never lend him money again.


[/ QUOTE ]
Can I borrow a hundred?

[mostsmooth]

ask him to put you in to the tournament(with the $100 he owes you), and in return you will split your profits with him 50/50. tell him this way both of you are happy, you got your 100 he owed you , and he gets some money for free.maybe even sweeten the deal, tell him youll split your profits from the next 5 of his tournys.
hopefully he will bite. then if you make any cash , tell him your gf needs an abortion.

[cardcounter0]

Ding! Ding! Ding!
WE HAVE A WINNER!
/images/graemlins/grin.gif

[Stupendous_Man]

[ QUOTE ]
ask him to put you in to the tournament(with the $100 he owes you), and in return you will split your profits with him 50/50.

[/ QUOTE ]


Then go all-in on the 1st hand, bust out, leave, and let him explain to the other guys why the prize pool is $100 short! /images/graemlins/shocked.gif


[ QUOTE ]
then if you make any cash , tell him your gf needs an abortion.

[/ QUOTE ]


Classic! /images/graemlins/grin.gif Though, as "forgetful" as he sounds, he might not appreciate the irony! /images/graemlins/laugh.gif

[Rick Diesel]

Why don't you try to get him on some sort of payment plan? If he has $100 to buy in to this game, then he has to have the money for you. Tell him that you understand that times are tough and maybe he can pay you back $10-$20 at a time. People are much more likely to repay this way.

[steeser]

I'd go and play in his game, but the first time he wins tell him that "now is a good time to give me back that $100 I lent ya."

[gamblore99]

I bet he told a bunch of the other players not to mention the money he borrowed to. If he wins the tournaemnt, or has more than 100 bucks I would start harrassing him immediately and trying to get my money back.

[bwana devil]

dude owes you $100 and now youre going to play by his rules and be quiet about it? id either tell him to start making payments right away or i would cut ties for good.

if he's running $100 tournies at his house and inviting me over that would be the biggest insult. he's basically flaunting the fact that he has the money to pay you but instead is going to gamble the money right in front of you. why are you letting him set the ground rules for how this is handled by telling you to come over but keep quiet?

[stankybank]

sounds like you guys aren't really close or he'd at least have the decency to be honest with you and say he can't pay you back anytime soon. Since you say the home games are juicy, I say continue to be 'friendly' with this guy and play in these games and perhaps you can bring up the debt again but this time say you'll take the $100 loan in installments, maybe $10-20 at a time until the loan is paid. If you want the money back that bad and really wish to remain somewhat on good terms, say you'll accept $80 as a one-time opportunity to settle the debt.

hope this works out for you.

[TomBrooks]

The guy is no good for the money. You might get it back if your lucky.

Here's an idea. If you want to play in his games anyway, go ahead. The first time he wins, you take your money back. You don't ask for it, just take it. In fact, take two hundred. Tell him the extra is the interest. When he argues, settle for $150 and he'll be happy.

[TimM]

[ QUOTE ]
After inviting me to the game he specifically told me not to bring up the loan subject as it would be unprofessional.

[/ QUOTE ]

He probably had to tell this to a lot of the invitees.

You could go to the game and steal his iPod. /images/graemlins/smirk.gif

Once I had a guy who owed me $55, and he didn't pay for a long time. He had some car parts I wanted, and one day I called him and made like I wanted to buy the parts. So I went over, and we start talking about how much he wants for them. I say how about $55. I could see he realized what was going on, so i picked up the parts and left.

[STLantny]

Brick + Car Windshield = Too bad for him.

[nothumb]

Is this a $100 tourney or a cash game? Wasn't clear to me.

Anyway, I'd go check the games out for a few weeks, if I'm making a bunch of money, I might forget about it. Or I might use the debt to gain better seat selection while I was at it, something like that.

Basically, if you've got the ability to confront the guy, and aren't a total puss, get him alone at some point during the evening when he's ahead, tell him the money needs to start coming your way, starting with some amount right that minute. Or else you will call him out in front of his buddies. If he is the compulsive gambler he sounds like, you will get your money.

Just be aware that you might not be able to play in the games anymore after that night, so calculate the risk carefully. Personally, I would make sure he knew that he had to keep inviting me and giving me my choice of seating, etc, or I'd make a big stink in his little home game.

Basically, if you are the kind of guy who can extract maximum value from this situation, do it. If you aren't, or if you have a problem with applying pressure to make a profit from his compulsive gambling, don't do it. Keep your mouth shut and play in the good games. Just keep in mind that he's taking a lot of money away from the tables as well.

NT

[Victor]

[ QUOTE ]
maybe even sweeten the deal, tell him youll split your profits from the next 5 of his tournys.


[/ QUOTE ]

this is way too generous.

[Huhmare]

I used to have this kind of friend. I remember in upper stage I had 20 marks(about $4) and I lend 10 marks to the friend. He paid it after 6 months. /images/graemlins/mad.gif Afterwards I have had a lot of problems with getting my money back from the guy. It's kinda hard if you have a close friend who is always out of money, mostly because he just squanders all his money. I mean if you want to do something else than sit at home with this guy you basically have to borrow him money once in a while. He ows me 50€ right now. We aren't even that good friends anymore. I'm glad if he someday pays it back, but I doubt it. Only really good way to get the money back is to go drinking with this guy when he has a payday.

[Michael Davis]

Look, I respect his indebtedness to you, but is this thread seriously about $100, and people responding as if it's serious? If it's +EV to give up the $100, just do it, or try to hit him up privately after his game. Either way it's not a serious issue, and it will make no difference to the quality of your life.

-Michael