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Summary of Question:Stuck between a rock and a hard place
Category:Other
Date Posted:Tuesday, 9/28/1999 8:57 PM MDT

Hello,


Satnam.

I am caught in a dillema. My parent is a single one, and they have a good job
and we have been given everything by Guru and God.
about 10 years ago. my uncle asked my parent to lend Him money for His business.

Being a single parent, it was all of our savings which had been locked in the bank at about 12.5% interest and was going to dividends in the future. But
my parent is very generous and with doubt lent the money ...it was about 25000
and my parent lost about 4000 just cashing it early.

now, my brother and i both go to university and we have a lot of expenses for
my parent (fees and books are very high).we are also planning to buy a car but have to wait a while.

my uncle will pay the money back for sure, that's not what worry's me...its
the $150 000 in interest over the last 10 years that we lost b/c he bored that
does....they probably ain't going to pay that, just the 71 000 they bored in a
few years.......and then my uncle was so selfish in saying just a few weeks ago,
that my parent should cancel their life insurance policy to help us with the
expenses...that really pissed me off.

so 10 years later after the business in doing extremely well,my question is do we tell them to pay the interest when they are ready to
pay the principle? i mean he caused my single parent to loose that much money
therefore should he not pay the interest back...?????????

please advise me on this

thanx




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Stuck between a rock and a hard place (09/28/1999)
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