This is the weekend and Sunday is when I do it!

  • Posted by a hidden member.
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    Jul 24, 2010 8:59 PM GMT
    This is my 50th birthday weekend...and I have taken Friday and Monday off work to make it my own personal holiday. Sunday is my actual birthday. I plan on being in Akron, OH, to be at the family reunion. I have also decide to ask my father for a low interest loan to help finance plastic surgery to remove the excess skin left over from my weight loss surgery (I lost over 230 lbs).
    I have a decent relationship with my dad and step mother. I have never asked them for any money or "help", even through college, etc.I feel a bit conflicted and reluctant to ask for a loan from my dad. Dad is 75, been retired for 25 years and is a Bona fide multi-millionaire.....He is ...I am not. I am looking for a loan of $35K....but I know from watching my other siblings...that going to dad for cash is like a scene from "The Godfather"....
    Has anyone else ever done this? Any suggestions or words of wisdom?
    I have worked out a repayment plan and amortization chart that I could afford and would have him repaid in 2 years, plan to present this as a "deal" to "the Bank of Dad"....any words?
  • Webster666

    Posts: 9217

    Jul 24, 2010 9:34 PM GMT
    I think that your well thought out plan for repaying the loan will impress your dad, but, I suspect that he'll never understand your reason for borrowing the money. If he can get past that, and see that he'll be making some good interest on the loan, you might get this by him.

    He's going to ask you what you plan to put up for collateral to guarantee that he'll get his money back. What are you going to say to that ?

    One of the reasons that most millionaires are millionaires is that they don't lend money to anyone, ever.

    Do you have a life insurance policy that you could borrow from ?
    Do you have an IRA that you could borrow from ?
    Do you own your own home, from which you could borrow money ?

  • Posted by a hidden member.
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    Jul 24, 2010 9:59 PM GMT
    If your father raises the issue of his age (and I don't know if your father is like mine was, always saying "I may not be here much longer") tell him you'll complete the loan payments to his estate. Which I assume would be going to your stepmother, and other family members.
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    Jul 25, 2010 12:05 AM GMT
    No words of wisdom but I want to wish you HAPPY BIRTHDAY! icon_biggrin.gif

    Best of luck with your dad!
  • jgymnast733

    Posts: 1783

    Jul 25, 2010 12:18 AM GMT
    HAPPY BIRTHDAY, mine occurs wednesday.....
    I'm sure your track record is good and you'll get the money, just go there [tail between the legs] and ask...
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    Jul 25, 2010 12:50 AM GMT
    HAPPY BIRTHDAY SPORTY!!

    Wishing we had some kind of advice for you, but really we don't. How about this: Tell dear old Dad how much weight you've lost and that now you have a problem that can be fixed with his help.

    -us guys
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    Jul 25, 2010 12:55 AM GMT
    Happy Birthday!

    If he does view it as a business transaction, he might ask if you have included interest in your repayment plan. I assumed you have as you mentioned amortization which normally is to account for cost of money.
  • HndsmKansan

    Posts: 16311

    Jul 25, 2010 12:55 AM GMT
    Best wishes for a great birthday!

    Why not?? You haven't asked your Dad for much over the years and he clearly can afford to help you out. Congrats... and I mean CONGRATS on the awesome weight loss... have a fantastic birthday tomorrow!

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  • Posted by a hidden member.
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    Jul 25, 2010 12:58 AM GMT
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    Congrats on your weight loss and Happy Birthday.
  • zenny

    Posts: 229

    Jul 25, 2010 6:49 AM GMT
    Appy birthday!!! Mines exactly a week from yours
  • HOTWEILLER

    Posts: 347

    Jul 25, 2010 7:05 AM GMT
    HAPPY BIRTHDAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAY
  • Posted by a hidden member.
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    Jul 25, 2010 7:24 AM GMT
    just tell him that excess skin can lead to infections and other health issues (all entirely true) and that the operation is not actually cosmetic as it leaves a very large scar.
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    Jul 25, 2010 10:51 AM GMT
    My mom used to give me endless grief when I was a kid if I borrowed 20 bucks and then went out to a movie before I paid her back.

    I love my parents to death, but would sell my blood before I ask them for money.
  • Posted by a hidden member.
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    Jul 25, 2010 10:55 AM GMT
    Happy Birthday.....
  • Posted by a hidden member.
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    Jul 25, 2010 11:53 AM GMT
    Ain't It Nifty...Sporty G is 50!

    6875birthday.jpg

    HAPPY BIRTHDAY!!!
  • baldone

    Posts: 826

    Jul 25, 2010 12:07 PM GMT
    happy happy birthday sporty, congrats on the weight loss..you look incredible
    and good luck today icon_smile.gif
  • Posted by a hidden member.
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    Jul 25, 2010 12:18 PM GMT
    happy birthday
  • RSportsguy

    Posts: 1925

    Jul 25, 2010 1:13 PM GMT
    Happy Birthday!! Congratulations on the weight loss!! icon_biggrin.gif
  • Posted by a hidden member.
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    Jul 25, 2010 2:49 PM GMT
    Happy Birthday
  • Posted by a hidden member.
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    Jul 25, 2010 3:09 PM GMT
    Make sure there are no oranges in the room when you ask!
  • Posted by a hidden member.
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    Jul 25, 2010 3:13 PM GMT
    THANKS! for the Birthday wished from everyone...I appreciate it!

    SPORTY_G icon_cool.gificon_biggrin.gif
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    Jul 25, 2010 3:20 PM GMT
    First - Happy Birthday today!

    Second - Huge congratulations on losing all that weight! You are to be commended for such an undertaking.

    Third - I haven't much advice for you as to how to successfully secure a loan or gift of $ from your father. Good luck! (The only $ I ever got was for college, which I had to pay back on a five year plan.)

    I think your request for a loan or gift to help with your surgery is worthy and I hope you get it. I should think they'd want to give this to you for all the work you put in losing the weight!
    icon_cool.gif
  • Posted by a hidden member.
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    Jul 25, 2010 3:21 PM GMT
    Oh and get your prostate tested!!!