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Call me crazy, but I loaned my PCA $4,000 to buy a new (preowned) car.

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    Call me crazy, but I loaned my PCA $4,000 to buy a new (preowned) car.

    He has worked for me for 4.5 years and is almost like family. I believe I can trust him. The only thing he has ever taken from me is a couple of Triscuit crackers and a cookie or two. He picks nickels and dimes off the floor and returns them to me.

    I guess he's not getting a Christmas bonus this year.

    #2
    Good for you.

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      #3
      Wow, what a generous gift. I think you would need to consider it such, as the chances of being paid back unless you did a formal contract with him for the "loan" or are going to take payments from his pay prior to paying him, it is unlikely you will see this money again.

      (KLD)
      The SCI-Nurses are advanced practice nurses specializing in SCI/D care. They are available to answer questions, provide education, and make suggestions which you should always discuss with your physician/primary health care provider before implementing. Medical diagnosis is not provided, nor do the SCI-Nurses provide nursing or medical care through their responses on the CareCure forums.

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        #4
        I hope he repays.

        My rule of thumb, if someone asks and I am able to give the money, it is a gift.

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          #5
          I might have been foolish enough to do it as long as it was a replacement car and not one that will incur new expenses that have not been in the budget such as insurance, gas, parking, repairs etc.
          I have had periodic paralysis all my life. I lost my ability to walk in 2011 beginning with a spinal block, which was used for a hip fracture caused by periodic paralysis.

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            #6
            Originally posted by Uncle Peter View Post
            He has worked for me for 4.5 years and is almost like family. I believe I can trust him.
            You can only go with your gut feeling Peter, it sounds as if this guy is trust worthy.

            Comment


              #7
              You know him better than any of us. I've done similar with some of my PCs but not quite that amount.
              "It is every man's obligation to put back into the world at least the equivalent of what he takes out of it. Try not to become a man of success but rather try to become a man of value." - Albert Einstein

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                #8
                It's a replacement car. The one he has now is almost inoperable.

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                  #9
                  Just don't count on getting back and if you don't try not to let it wreck your relationship with him, money can really screw things up, that's one reason I generally just say no, when I was in business I use to have people hitting me up for loans (workers) all the time. If I'd given them all loans I'd be broke.
                  "Life is about how you
                  respond to not only the
                  challenges you're dealt but
                  the challenges you seek...If
                  you have no goals, no
                  mountains to climb, your
                  soul dies".~Liz Fordred

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                    #10
                    I have done it several times..hold the title, don't put their name on it, draw up a contract get it notarized...add a little interest, with in reason..help off set ur PCA expense...
                    Louie Gonzalez
                    C6 C7

                    Comment


                      #11
                      On a couple of occasions I have issued a pay check a week or two early. I do not think I would consider such a loan. I can see were that might affect the employer-employee relationship. For example, it would be hard to terminate someone who owes you a pile of money.
                      You will find a guide to preserving shoulder function @
                      http://www.rstce.pitt.edu/RSTCE_Reso...imb_Injury.pdf

                      See my personal webpage @
                      http://cccforum55.freehostia.com/

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                        #12
                        I was never loaned so much, however have always repaid.
                        how is he planning on repaying you? for me, I paid a set amount monthly or a set amount was deducted from my pay each week, as twice it was an employer.

                        paid my computer off that way, because roomie can get a no interest loan from work for electronics, so each month I added the payment to the rent check so it was easy to see how much and how long I made computer payments.

                        it took me two years and I missed only one payment but paid two the next month.

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                          #13
                          He paid $100 so far and promised (orally) to pay it back at a rate of $600 per month.

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                            #14
                            that's a nice sum if he can swing it. Much more than if he had bought a nice newish car. Iv paid cars off with my tax return as well. iv never actually asked for a loan. it was offered because it was the only way I could still get there to work for them.

                            I hope it works out ok.

                            Comment


                              #15
                              Peter, check out how the 3 credit agencies work and then let him know if it is paid back according to plan, or very close to, you'll send it in as a loan with payment info. It will help him get his next car using a bank or other loan agency. Nice thing to do anyway.
                              Courage doesn't always roar. Sometimes courage is the quiet voice at the end of the day saying, "I will try again tomorrow."

                              Disclaimer: Answers, suggestions, and/or comments do not constitute medical advice expressed or implied and are based solely on my experiences as a SCI patient. Please consult your attending physician for medical advise and treatment. In the event of a medical emergency please call 911.

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