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The money will be just resting in my account

Rabidlamb

Short version of story:

Neighbour in mortgage difficulty, already resigned to losing house, been unemployed for 3 years & will emigrate once "free rent" moratorium is up.
He has €15k in cash savings which he's put by to establish himself & his family in their new life abroad.
He has asked me to accept a gift of this money, lodge it then send it on to him once the time is right.

He makes a solid argument that if the bank became aware of these funds they would demand they be used to offset the mortgage shortfall.
To him this is the equivalent of burning the cash as he's already given up on the house.

A few things, I realise I may be party to some offence but I don't give a flying f-ck seeing how the banks have treated the people, in fact I would quite enjoy giving them the 2 fingers.
The end game could still be 2 years down the line.

Question. What would you do if you were in my circumstances ?.

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Sleepy

Refuse. He's asking you to help him rip you off.

While he's enjoying his new life abroad, your taxes will be contributing to the hole he's left in the bank's balance sheet and/or the interest rates on your own debt will increase to cover the losses of the likes of your neighbour who don't want to accept responsibility for their own bad decisions.

smash

Rabidlamb wrote: »

A few things, I realise I may be party to some offence but I don't give a flying f-ck seeing how the banks have treated the people, in fact I would quite enjoy giving them the 2 fingers.
The end game could still be 2 years down the line.

So you don't care that the end result will be that you and the rest of us will have to pick up his tab while he jets off with over 15k, which if caught you'll have to pay tax on?

Mickey Dazzler

Allow him to put the money into your account and when he calls asking for it back tell him to and fcuk himself.

lividduck

Take the cash, spend it and then tell him to sue you if he doesn't like it!:D

MagicSean

Does your neighbout go by the name Quinn?

bijapos

If he's an honest, decent sort I'd help him out. He isn't the only one who made a bad decision the past few years and if doing this is going to stop the worry and help him and his family get out of a hole I'd help him.

Stiffler2

OP i can see where you are coming from.
Voice of reason from above 2 posters I can also see where you're coming from.

Help the guy out, he'll need that cash for his new life.
15k versus the 176 billion we owe won't make a difference in plugging that hole

Bankers, develepers & politicians got us into this mess, not this guy.

MagicSean

Stiffler2 wrote: »

OP i can see where you are coming from.
Voice of reason from above 2 posters I can also see where you're coming from.

Help the guy out, he'll need that cash for his new life.
15k versus the 176 billion we owe won't make a difference in plugging that hole

Bankers, develepers & politicians got us into this mess, not this guy.

Bollocks. anyone who bought a home they couldn't afford contributed to this mess.

Rabidlamb

Sleepy wrote: »

Refuse. He's asking you to help him rip you off.

While he's enjoying his new life abroad, your taxes will be contributing to the hole he's left in the bank's balance sheet and/or the interest rates on your own debt will increase to cover the losses of the likes of your neighbour who don't want to accept responsibility for their own bad decisions.

Would that €15k make the slightest difference to the banks balance sheet, they are losing more than that every 6 months with the depreciation of the asset.
The €15k will make no difference to the bank but will be life changing for him.

smash

Stiffler2 wrote: »

Bankers, develepers & politicians got us into this mess, not this guy.

He's contributing to the mess by avoiding his responsibilities!

MugMugs

Mickey Dazzler wrote: »

Allow him to put the money into your account and when he calls asking for it back tell him to and fcuk himself.

That says it all really... A gift is a gift after all.

Rabidlamb

Sleepy wrote: »

Refuse. He's asking you to help him rip you off.

While he's enjoying his new life abroad, your taxes will be contributing to the hole he's left in the bank's balance sheet and/or the interest rates on your own debt will increase to cover the losses of the likes of your neighbour who don't want to accept responsibility for their own bad decisions.

So you'd prefer to take the shirt off his back everyday for the next 20 years.
He's not a mathematical equation, he's a person that has a shot at a good life.

dxhound2005

Rabidlamb wrote: »

Short version of story:

Neighbour in mortgage difficulty, already resigned to losing house, been unemployed for 3 years & will emigrate once "free rent" moratorium is up.
He has €15k in cash savings which he's put by to establish himself & his family in their new life abroad.
He has asked me to accept a gift of this money, lodge it then send it on to him once the time is right.

He makes a solid argument that if the bank became aware of these funds they would demand they be used to offset the mortgage shortfall.
To him this is the equivalent of burning the cash as he's already given up on the house.

A few things, I realise I may be party to some offence but I don't give a flying f-ck seeing how the banks have treated the people, in fact I would quite enjoy giving them the 2 fingers.
The end game could still be 2 years down the line.

Question. What would you do if you were in my circumstances ?.

Why did he ask you?

MagicSean

Rabidlamb wrote: »

Would that €15k make the slightest difference to the banks balance sheet, they are losing more than that every 6 months with the depreciation of the asset.
The €15k will make no difference to the bank but will be life changing for him.

I'm sure if you heard that a banker had stolen 15k you'd be calling for his head.

seamus

Go straight to the bank and let them know that your neighbour is committing fraud by trying to strategically default.

Rabidlamb

dxhound2005 wrote: »

Why did he ask you?

Best mates & all that, plus he doesn't trust his own family.

lougholad

I would probable keep his money and spend it paying a lump off my own mortage

lostboy

**** it, 15k is nothing in comparison and his life is basically ruined as it is, give em another chance

CardBordWindow

MagicSean wrote: »

I'm sure if you heard that a banker had stolen 15k you'd be calling for his head.

A banker wouldn't do such a thing, surely?

Rabidlamb

MagicSean wrote: »

I'm sure if you heard that a banker had stolen 15k you'd be calling for his head.

I sit really stealing though, had he blown that €15k by drinking & gambling over the years it wouldn't be there anyway.

smash

he must think you're very gullible or something. If he had half a brain he'd be taking the money out in cash on a weekly basis and say he used it for living expenses.

By doing what he's asking, you're an accessory to fraud.

Sleepy

Rabidlamb wrote: »

Would that €15k make the slightest difference to the banks balance sheet, they are losing more than that every 6 months with the depreciation of the asset.
The €15k will make no difference to the bank but will be life changing for him.

And what if every one of the people in his situation are helped to avoid their responsibilities?

Rabidlamb wrote: »

So you'd prefer to take the shirt off his back everyday for the next 20 years.
He's not a mathematical equation, he's a person that has a shot at a good life.

No, he's a person that made a mistake. Now, he needs to live with the consequences of his decision and is whinging about it. I've no sympathy for anyone that bought an over-priced house in the boom and got a mortgage larger than they could handle for it. Yes the banks were at fault for agreeing to lend but they didn't hold a gun to the guy's head: he signed up for the mortgage of his own free will. He can live with it's consequences because, to be frank, I'm paying for enough of the stupidity of those that inflated a housing bubble that I wasn't stupid enough to get involved in tbh.

Firefox11

bijapos wrote: »

If he's an honest, decent sort I'd help him out. He isn't the only one who made a bad decision the past few years and if doing this is going to stop the worry and help him and his family get out of a hole I'd help him.

Yes, but this is becoming all too common. People who made bad decisions and then walk away from from there responsibilities and emigrating leaving the rest of us to pick up the tab.

Sleepy

BTW: you do know you'll need to explain a sum that large under money-laundering legislation, right?

Robdude

Everyone seems focused on what they *could* do....but nobody seems to ask what they *should* do any more.

That's a lot of the reason for our financial problems.

Your neighbour - a full grown adult - who took out a mortgage is now abusing tax relief programs designed to help people stay afloat; when clearly his intention is to scam the maximum amount of money from the bank and the tax payers and run off with the funds.....is asking you for help committing his crime.

Why would you even consider this?

If I were a banker and I told you'd scammed 15k from customers - would you hide it for me in your bank account? If illegally scammed a 15k dole check - would you hide it for me in your bank account?

He's breaking the law. He's stealing money from a bank and defrauding the Irish government.

Why is this even a question?!

If your seven year old son came to you and told you that his friend Jimmy asked him to hold on to 15 giant bags of candy because Jimmy 'borrowed' it from the store and the store is trying to find it; what would you tell your son was the right thing to do?

smash

Sleepy wrote: »

BTW: you do know you'll need to explain a sum that large under money-laundering legislation, right?

Not for only €15k

Sleepy

You sure? When I last worked in a bank (admittedly over a decade ago) it was any amount over 5k...

ABEasy

Robdude wrote: »

He's breaking the law. He's stealing money from a bank and defrauding the Irish government

What law is he breaking?? And how is he stealing??

Op if he's your friend then I can't even understand why you are on here asking...

dxhound2005

Rabidlamb wrote: »

Best mates & all that, plus he doesn't trust his own family.

If you are willing to help him out with a bit of money laundering then maybe you could try something that a local here got away with for a while. Collect his dole every week when he emigrates and split it between yourselves.

Reoil

Sleepy wrote: »

BTW: you do know you'll need to explain a sum that large under money-laundering legislation, right?

He can just say he sold his car to his neighbour...