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 borrow money from in-law?

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MeToo
post Oct 20 2020, 11:29 AM

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QUOTE(gangeun @ Oct 20 2020, 11:12 AM)
about 70% sure.

but if actually talk to my wife, then i don't even need the money, because my wife will determine i live or die.  bye.gif
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Frankly she might blow her top...

BUT... i dont see a wife leaving for merely 60k... infact most of the time women wouldnt leave for money, its trust/fidelity/emotional reason that they leave
TSgangeun
post Oct 20 2020, 11:36 AM

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QUOTE(hksgmy @ Oct 20 2020, 11:24 AM)
Every man wants to be a provider to and for his family. Your foray into crypto can be seen as an attempt to secure an alternate source/stream of income to help improve the family's financial standing. As with any thing else, there's always an element of risk. If you explain your rationale to your wife and speak to her honestly and humbly, I don't see any reason why she would blow up at you.

It's different if you played the market to make money to fund your mistress... that one, lain cerita. That one, dewa pun tarak pakai to save you from her wrath.
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thanks for the kind words bro. i'll confess and accept the consequence anyhow.
no mistress. i talk kok a lot but i only want her in my life.

QUOTE(MrBlackie33 @ Oct 20 2020, 11:28 AM)
MIL will be the last person in my list to borrow money from, moreover she is already in her 60's who knows ur MIL will be in financial difficulties also in near future, unless u are 100% sure she has the financial capabilities and that 5 figures is just a tiny portion of her assets
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she's not the typical illiterate pasar aunty but has been investing and already accumulated quite some wealth one, also supermom and kind, i'm thankful to have in-law like her. but nvm, i won't borrow to risk the relationship.
hksgmy
post Oct 20 2020, 11:39 AM

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QUOTE(gangeun @ Oct 20 2020, 11:36 AM)
thanks for the kind words bro. i'll confess and accept the consequence anyhow.
no mistress. i talk kok a lot but i only want her in my life.
she's not the typical illiterate pasar aunty but has been investing and already accumulated quite some wealth one, also supermom and kind, i'm thankful to have in-law like her. but nvm, i won't borrow to risk the relationship.
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Good husband. Good luck bro!
ahchun
post Oct 20 2020, 03:40 PM

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QUOTE(gangeun @ Oct 20 2020, 10:53 AM)
tell my wife even if it's the worst possible scenario?
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yes tell

if u lie now
u need to use new lie to cover old lies
and its never ending

one day when ur relationship with ur MIL turn sour, she will tell ur wife
at that time it will be worst



This post has been edited by ahchun: Oct 20 2020, 03:40 PM
Zenph
post Oct 20 2020, 06:23 PM

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why dont lend from your parents instead? lending from in law is worst man.....

Imagine what would her mom think? cant even take care of her daughter.

Edited: Read everything and I still dont suggest to lend money from MIL. This can go from worst to even worst.. I wish u all the best brother. I think i saw u posting the same in reddit MalaysiaPF

This post has been edited by Zenph: Oct 20 2020, 06:27 PM
mini orchard
post Oct 20 2020, 07:11 PM

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Not necessary to involve mil.

If you dont want to pay interest, you problem cannot be solved.

Tell you wife about it and your plans how to go about solving the problem except borrowing from mil. Tell her your mistake and poor judgement investment and plea for her understanding. Definite she gonna get mad, but accept it and dont fight back. Inform her that certain unimportant family expenses need to be reduced or stopped while you sort out the money problem.

Personal loan is your only option.




tifosi
post Oct 21 2020, 12:28 AM

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This is not a financial advise but DON'T and I mean DON'T defend what you did. You might have your reason to dump the money in, but in her eyes and losing that big sum of money in the spur of moment she might just blow up at you (don't know your wife character but high possibility).

Just set the expectation first. Just apologies and say nothing. Everything you say will be used against you. Saying the wrong thing might haunt you rest of your life.

Do come up with a high level plan in mind on how to save back up the money without her sacrificing much if she ask.
rapple
post Oct 21 2020, 08:34 AM

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Speculating is more like gambling, you are hoping to win. Ts should just get over with the loss and dont borrow from anyone. Just start saving from scratch.
cmk96
post Oct 21 2020, 09:56 AM

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Good to have richer in-law than poor in-law...

my wife always give money to her family.... 6-figures already to bail out their family business.... until she hutang with me... can't repay.

Borrow from in-law is ok if you can repay it. Your wife just want face.


victorian
post Oct 21 2020, 12:07 PM

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QUOTE(cmk96 @ Oct 21 2020, 09:56 AM)
Good to have richer in-law than poor in-law...

my wife always give money to her family.... 6-figures already to bail out their family business.... until she hutang with me... can't repay.

Borrow from in-law is ok if you can repay it. Your wife just want face.
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No it’s not okay, especially if you are going straight to your MIL without going through your wife.
polarzbearz
post Oct 21 2020, 12:45 PM

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Honesty is the best policy. Talk to your wife.
rapple
post Oct 21 2020, 12:56 PM

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QUOTE(victorian @ Oct 21 2020, 12:07 PM)
No it’s not okay, especially if you are going straight to your MIL without going through your wife.
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You are right.

He's trying to hide the fact he "gambled" their savings and then try to borrow money and cover the losses.

And the worse thing is he wanted to borrow from her because he didn't need to pay interest and god knows whether he really will pay back or not..
TSgangeun
post Oct 21 2020, 03:19 PM

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QUOTE(rapple @ Oct 21 2020, 12:56 PM)
You are right.

He's trying to hide the fact he "gambled" their savings and then try to borrow money and cover the losses.

And the worse thing is he wanted to borrow from her because he didn't need to pay interest and god knows whether he really will pay back or not..
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Ok enough with the assumptions. I have replied above that I won't be borrowing and will confess.
PrincZe
post Oct 21 2020, 11:58 PM

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QUOTE(gangeun @ Oct 21 2020, 03:19 PM)
Ok enough with the assumptions. I have replied above that I won't be borrowing and will confess.
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hope to hear the outcome console.gif
hksgmy
post Oct 22 2020, 08:11 AM

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QUOTE(gangeun @ Oct 21 2020, 03:19 PM)
Ok enough with the assumptions. I have replied above that I won't be borrowing and will confess.
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Yes bro, good luck and let us know how it turned out please.
TSgangeun
post Oct 22 2020, 05:48 PM

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QUOTE(PrincZe @ Oct 21 2020, 11:58 PM)
hope to hear the outcome  console.gif
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QUOTE(hksgmy @ Oct 22 2020, 08:11 AM)
Yes bro, good luck and let us know how it turned out please.
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I planned to tell her tonight, but just received news that she's having some abnormal health complications and she's currently taking a rest. I'm heartbroken.
hksgmy
post Oct 22 2020, 06:01 PM

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QUOTE(gangeun @ Oct 22 2020, 05:48 PM)
I planned to tell her tonight, but just received news that she's having some abnormal health complications and she's currently taking a rest. I'm heartbroken.
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OH dear. Best of luck to both of you and a speedy recovery to her!

This post has been edited by hksgmy: Oct 22 2020, 09:24 PM
mini orchard
post Oct 22 2020, 06:07 PM

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QUOTE(hksgmy @ Oct 22 2020, 06:01 PM)
OH dear. Beat of luck to both of you and a speedy recovery to her!
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Can you apply for PL to sort it out first. You can tell her later when her health and mental well being improve ... unless you think she has a chunk of money to help you.
TSgangeun
post Oct 22 2020, 06:10 PM

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QUOTE(mini orchard @ Oct 22 2020, 06:07 PM)
Can you apply for PL to sort it out first. You can tell her later when her health and mental well being improve ... unless you think she has a chunk of money to help you.
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I can't afford to service any loan bigger than the one I have now. I barely can survive until month end.
mini orchard
post Oct 22 2020, 06:21 PM

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QUOTE(gangeun @ Oct 22 2020, 06:10 PM)
I can't afford to service any loan bigger than the one I have now. I barely can survive until month end.
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How about your siblings or parents ?

How do you intend your wife to help you after telling her your situation ?

How much RM to settle? Have a car fully paid ?

This post has been edited by mini orchard: Oct 22 2020, 06:23 PM

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