how much a month i need to repay

[michael007]

I owed my brother �26,000 from a legal charge, i took a loan and paid him �22,000. With �4,000 left to pay iam finding it differcult to raise the rest. Can i offer to pay him so much a month. Rather than pay the full amount . Without anymore interest added. Not sure if i`ve explained it right. Any help plz..

[redcrx]

ask your brother what he'll accept.

[michael007]

he wants the full bal paying before xmas

[sir.knobby]

Whats the point in asking this question then?

[bednobs]

you could offer to pay him in tomatoes, or offer to pay him in monopoly money ... however i guess it just depends on what he will accept! If he is saying he wants it all back before xmas, and you dont have it, he's not going to get blood out of a stone, is he?

[michael007]

If he takes me to court will the court accept a minimum monthly payment.

[CheekyChops]

They possibly will if you can provide an income and expenditure statement showing that you can't afford to pay any more.

[terambulan]

He's a hard brother! If it were mine he would be paid half a choc button a day.

Let him take you to Court where payments will be assessed on your income (make sure you chuck the job before Court). The bailiffs may be over to seize assets....move valuables!

Give him goods in lieu then raid FreeRecycle.co.uk and dump the freebies on him.....photograh for proof.

[R1Geezer]

Offer him some interest so it then beomes the equivalent of him saving. Say 5% for example, then pay whatever you can monthly and add one twelfth of 5% to the balance at the end of each month. eg so you owe 4000 now, imagine you can pay �200 now so you owe �3800, in a month multiply the balance (�3800) by 1.0042 giving �3815.96. So after a month you owe 3815.96, deduct what you can pay next month and so on. If he's got any sense he'll accept your offer.