The worst thing about this is that it is causing arguments between you and your wife which will ultimately threaten your marriage. This has to stop and it has to stop now. Tell him anything believable.
If he has a gambling problem, you lending him money is only going to continue the problem.
The answer has to be no, next time he asks.
If you genuinely believe that he can get you sacked then have a word with HR. They don’t have to be proactive, ie have a word with him, but you are pre-empting any future fabricated issues. But only do that if you think you job is in jeopardy.
only ever lend what you can afford to write off.
For work colleagues that’s a couple of quid for a sarnie or coffee out the machine.
Why the F would you lend a work pal more than that!?!?! 
How deep are you in so far ?
Trouble is, you fall out and you lose the balance.
Blimey how much ? My Mrs would of strung me up for lending a tenner.
Blimey how much ? My Mrs would of strung me up for lending a tenner.
Everyone borrows money in Runcorn 
Rumour has it that Albion run’s a money advice service in the area. She can be found sailing the Bridgewater canal with her butler serving Gin on board. Once in a while she berths at Preston Brook as that’s the posh bit.
Tell her you are a mate of the mighty Beaver, you will definitely receive some ‘advice’… 
You would be a perfect prison cell mate
Even between proper friends you never count who owes how many pints etc but I don’t lend money unless its a good reason in my view. Example, I wouldn’t let my friends get in a mess like “You pay or we take it away” types, I would get the £££ straight away for them and we can deal with repayments together, hopefully they would ask me before it escalated to that bollox where a £500 debt is now 10k though!!
Without ever laying eyes on this grasper/sponger/bully i can see him in my mind’s eye.
A long life has taught me one thing, out there in the real world are a rapidly diminishing number of decent people who’s word means something, the rest have one thing in common and that is they will always disappoint you because they know not the meaning of honour, this bod has ‘dishonourable’ stamped through him like a stick of rock.
As one post above wisely says, only lend what you can afford to write off or lose.
I agree it might be wise to speak in confidence to someone senior at the company, what is happening here is blackmail, threatening your job unless you continue to pay his demands.
AndieHyde:
You know what, I was formulating a plan of defense for you on the given information. Then I thought “[zb] you dude” you are weak and deserve to be taken advantage of.Hard fact of life you have just learned.
People are bumholes. Grow a pair.
Juddian (as always) offers the intelligent & wise words to this topic. However, this post captures the sheer essence of Forrest Gump.
" Stoopid is as stoopid does " The times where the weaker folk were helped or even protected have long gone. This country is now so full of the above mentioned bum holes that being a hero or being ‘kind’ is now pretty foolish imo.
As the great Rob of Roy once proclaimed…" [zb] you all. I’m alright Jack, I look after No1 from now on ". 
Wise words indeed.
eagerbeaver:
As the great Rob of Roy once proclaimed…" [zb] you all. I’m alright Jack, I look after No1 from now on ".
Once?
Time to cut loose a friend methinks.
I used to have a gambling problem with slot machines from when I was very young, up until the late 90’s when I finally got shaken out of my habit by a threatened dismissal followed by a big “near miss” win that made me realize that I was never going to get the proverbial “big one”, or “double whammy big win”.
However, during those years - I never lost more than all the money in my pocket at any point, albeit that WAS all the money to my name on many an occasion.
I was sometimes offered loans from friends and family, but I refused them, knowing I just wouldn’t have the heart to try and explain that I’d donked it all away on slot machines had I borrowed it.
At the same time then - this means I NEVER tried to scrounge from people to fund my habit.
Tell this guy he needs to get his pride back, and default someone who can afford to take the haircut - the lender charging them interest.
The fact that “interest” was charged - builds in the risk factor that the debt might one day be defaulted. Interest, especially extortionate rates of interest - compensate a would-be high risk borrower from the perceived higher liklihood that they will one day default that debt, or at least part of it.
Gambling debts are not enforceable in courts. If you borrowed say, £10,000 off a credit card, pay it off at £100 per week for an entire year reducing the debt to about £9995 because of the rolling-up interest… The maximum a court would grant in “CCJ pass on” is… £4800 and NOT the £9995. Work it out what has happened here…
Lenders are reluctant to put accounts into default status, because the court will credit all payments to date off the original balance, which now defaulted - isn’t entitled to have interest charged on it. “Usury” is illegal. “Interest” can only be charged with the consent of the borrower. Once withdrawn, - only the original balance is payable but only with regards to Unsecured debts, the type used to gamble with. (People don’t remortage their houses typically, and bet the lump sum received in a casino - problem gambling is nearly always cash advances on credit cards, once the current account balance is all gone…)
If the bloke is “gonna get his knees broken” if he doesn’t cough up, then it is time HE lost his job not you.
The rainy day has come. Tell him to Default it, and the lesson learned will be that “No more money will be offered to you to borrow” - which of course is the BEST thing that can happen to someone who’ll lose everything in their pockets otherwise.
Don’t submit to “Emotional Blackmail” neither.
I honestly can’t work out if this is a genuine post or a wind up.
If it is genuine then stop loaning him money it isn’t your problem he needs to borrow money. As said only lend anything you can afford to write off to work friends.
When you do loan anyone money if they don’t pay it back on time as agreed or quickly then don’t lend them anymore.
How much does this guy currently owe you?
Do you have a paper trail of all the payments as it sounds like you are transferring the money into his “secret bank account” all the time. That’s good that you have some paper trail.
Why do you think that he as a “team leader” can make you lose your job?
Has this guy actually said of you don’t lend me the money you’ll be out of a job?
You need to ensure you get any money back he owes you and don’t lend him another penny.
On one hand you say its racked up to over 2k but then also say he eventually pays you back. So does he still owe you a lot of money or just the last amount he’s borrowed off you?
Winseer:
Gambling debts are not enforceable in courts. If you borrowed say, £10,000 off a credit card, pay it off at £100 per week for an entire year reducing the debt to about £9995 because of the rolling-up interest… The maximum a court would grant in “CCJ pass on” is… £4800 and NOT the £9995. Work it out what has happened here…
Lenders are reluctant to put accounts into default status, because the court will credit all payments to date off the original balance, which now defaulted - isn’t entitled to have interest charged on it. “Usury” is illegal. “Interest” can only be charged with the consent of the borrower. Once withdrawn, - only the original balance is payable but only with regards to Unsecured debts, the type used to gamble with. (People don’t remortage their houses typically, and bet the lump sum received in a casino - problem gambling is nearly always cash advances on credit cards, once the current account balance is all gone…)
This is a common misconception:
The Gambling Act 2005 came into force on 1 September 2007. Section 335 of this Act provides that the fact that a contract relates to gambling shall not prevent its enforcement. This is without prejudice to any rule of law preventing the enforcement of a contract on the grounds of unlawfulness (other than a rule relating specifically to gambling). In other words, a gambling debt can be legally enforced, as long as it relates to gambling that is lawful.
eagerbeaver:
AndieHyde:
You know what, I was formulating a plan of defense for you on the given information. Then I thought “[zb] you dude” you are weak and deserve to be taken advantage of.Hard fact of life you have just learned.
People are bumholes. Grow a pair.
" Stoopid is as stoopid does " The times where the weaker folk were helped or even protected have long gone. This country is now so full of the above mentioned bum holes that being a hero or being ‘kind’ is now pretty foolish imo.
As the great Rob of Roy once proclaimed…" [zb] you all. I’m alright Jack, I look after No1 from now on ".
Completely agree.
The OP isn’t some hard done by victim, he is a straight up enabler with deposits into “secret” bank accounts. He might aswell put the money on the table for the guy so who is the weaker man in this scenario?
The only sensible solution that can happen here is to 1. Dont lend the guy anymore. 2.try and claw back as much as possible before the guy gets the stuffing kicked out of him. 3. Look for another job, because this one sound dreadful and anyone with a grain of ambition wouldn’t put up with such ■■■■■■■■.
Polonius said, “neither a borrower nor a lender be.”
I have always taken the view that if I like and trust someone enough to lend them money, and I can afford it, I would prefer to give it to them unconditionally.
Santa:
Winseer:
Gambling debts are not enforceable in courts. If you borrowed say, £10,000 off a credit card, pay it off at £100 per week for an entire year reducing the debt to about £9995 because of the rolling-up interest… The maximum a court would grant in “CCJ pass on” is… £4800 and NOT the £9995. Work it out what has happened here…
Lenders are reluctant to put accounts into default status, because the court will credit all payments to date off the original balance, which now defaulted - isn’t entitled to have interest charged on it. “Usury” is illegal. “Interest” can only be charged with the consent of the borrower. Once withdrawn, - only the original balance is payable but only with regards to Unsecured debts, the type used to gamble with. (People don’t remortage their houses typically, and bet the lump sum received in a casino - problem gambling is nearly always cash advances on credit cards, once the current account balance is all gone…)This is a common misconception.
The Gambling Act 2005 came into force on 1 September 2007. Section 335 of this Act provides that the fact that a contract relates to gambling shall not prevent its enforcement. This is without prejudice to any rule of law preventing the enforcement of a contract on the grounds of unlawfulness (other than a rule relating specifically to gambling). In other words, a gambling debt can be legally enforced, as long as it relates to gambling that is lawful.
I not only speak from experience, but more than one experience… There’s no court on earth that can enforce a debt upon someone who’s skint for six years after the original run-up of the debt. UNSECURED debts ONLY mind. Attempts will be made by lenders to flip an unsecured debt into a secured debt,
Eg.
“You must pay off this credit card - we’ll put a lien on your house if you don’t cough up!”
The mortgage lender - might have something to say about that!!
or
“You must pay off this credit card - or goods will be seized from your property to the value of…”
Not without a court-appointed bayliff they won’t be!
or “If you don’t pay up, we’ll achieve a country court judgement against you”
…which will only be granted by default, if you don’t bother to turn up to defend yourself. Lenders often bring the case in a court near them rather than near the debtor though. If you then write to the court explaining that you cannot attend to represent yourself - because you are of limited means, the court will not then automatically grant the case to the plaintiff. They may set it aside, for the plaintiff to then go about the long winded process of showing the court how every penny accounted for was borrowed and spent by the debtor. If the debt was run up via “cash advances”, then they are more likely to have the case awarded in their favour, which I believe is where you are coming from with the change in law you pointed out above. If the debt on the other hand was run up on food, utility bills, and other non-maskable expenses - then no court in the land will automatically grant a case to the plaintiff, as there is no way anything “purchased” can be re-possessed, or denied in the first place to the debtor - matter of human rights.
So… If a person earns say, £2000 a month, loses £2000 a month gambling, and then puts their entire household budget on the credit card each month until it’s maxed out, and no further card can be obtained…
What do you think happens when a 5 or even 6 figure sum is presented by multiple plaintiffs, even possibly in coalition at the court, showing a debt run up on paying utility bills, feeding a family, but NOT buying cars, luxury goods, holidays etc, and of course “no gambling transactions”… there is the loophole which leads to tens of millions of credit card debt being defaulted each and every year PER HIGH STREET LENDER no less.
Of course they won’t explain “how to do this” - because no attempt has been made to close the loophole, as Banks have no interest in stopping people gambling, as that is the major source of “cash handling transaction charges” which normal card-purchases only people - never use, because it is such an expensive habit to draw cash out on a credit card.
A person in debt - should visit Citizen’s Advice Debt Specialist (or the mordern day equiv, I’ve been out of the loop for over a decade)
Do NOT visit a “Debt Management Company” - as they work for the Creditos, and not the debtor.
The first thing you should admit to the person you’re seeking advice from is “This debt is crushing me, it continues to rise because of the crippling interest and late payment charges, and the only way out of this for me is complete walkaway or suicide. Please tell me how to achive walkaway - for my mental health’s sake” It is a similar pitch to how a woman gets a free abortion on the NHS…
If the next thing said by the “Debt Advisor” is “Can you afford to pay £■■.■■ per month?” - then for God’s sake turn on your heel, and get out of there fast - the words you just told him went in one ear, and out of the other, and he/she is working for the ■■■■■■■ creditors FFS!"
Citizen’s advice - is/was the only place I know of that’ll give you advice on “complete walkaway” But you’ve got to specify this at the start. They will inform you of the consequences, the pitfalls, and the legal traps that you must minimize or avoid outright in getting back your entire life.
Can you go without car finance for the next 12 years?
Can you go without a credit card for the next six years?
Can you go without a mortgage for the rest of your life?
If you’re not intersted in buying a new car, have had it with credit cards, and already have a mortgage that you’ve kept up payments on…
You’ve got the three boxes ticked that then put you on the yellow brick road to not only erasing ALL your unsecured debt (except one, which I’ll come to in a moment…) but all the interest you used to pay as well.
A good time to go for this, is when you are “between jobs” as well, as court cases will be kicked down the road, the moment a creditor thinks you are skint for a bit, but likely to be better-off a few months down the line… You may have to “not do overtime at work for a year or more” to facillitate getting to the big six year mark, as when a court kicks a debt down the road on the request of the Plaintiff rather than the Debtor (who’s made no contact whatsoever, and must not absolutely not contact anyone in relation to the debt) the debt beceomes “statute barred” at six years of age, providing no contact has been made by the plaintiff with the debtor in person where they admit they owe them the money. There’s no “taking away of goods” - because the Plaintiff doesn’t get to win anything in court, if the debtor is currently on the dole, or known to be totally skint in reality, rather than on paper.
The debtor - will not be “Bankrupted” by a third party - for exactly the same reason.
A creditor petitions for someone’s bankruptcy - when they believe it is a case of “won’t pay” rather than “can’t pay”.
They may threaten bankruptcy, but the moment a debtor shows the remotest interest in it - you get told “YOU” have to petition for your OWN bankruptcy, which is around a grand last time I looked. FFS why bother doing THAT? If a creditor with millions and millions of fiat money is too tight-fisted to pay a court a grand to seize goods from your house - then the LAST thing you want to spend your last grand on - is paying THEM to seize goods from your house!
Like being in the EU - Each month that goes by when “nothing happened” - is another month closer to that six year statute-barred finishing line. Once that point is passed, not only is the debt completely dead, but your slate is clean as well… It won’t be clean for “getting a mortgage” though, which is why this form of debt walkaway - is only for people who either already have a house with a mortgage OR already know they’ll NEVER have one, and therefore don’t care if “walkaway default” effectively “bans them for life” from ever getting a mortgage in the future.
What is the one unsecured debt that you should never default?
Your current account overdraft.
…And you should not ever default your taxes, your utilities, or your mortgage payments neither. They WILL be enforced on you, because the government has bottomless pockets, and isn’t afraid to waste millions chasing a few thousand of debt. They are the harshest “plaintiff” of all - and are not to be messed with - regardless of who runs Westminster or your local town hall! 
Gambling & Non-returnable non-asset purchases such as food… You cannot re-possess already-lost money, and you cannot re-possess paid bills and eaten food.
Want to re-possess that expensive meal I had yesterday?
mrginge:
eagerbeaver:
As the great Rob of Roy once proclaimed…" [zb] you all. I’m alright Jack, I look after No1 from now on ".Once?
A fair point mate, and well made
It’s a shame he does not apply similar vigour in paying for a bloody breakfast now & again. The man is tighter than a ■■■■■■ clamp installed by The Terminator 
Next time around choose one of the following
The clutch has gone in my car
I need to fit a new kitchen
My wife needs expensive dental work or
Wife wants a new sofa.
Break the cycle - two of you have got into a bad habit.
No, sorry mate, the flat roofs leaking, they all do.
No, sorry mate, you have burnt your bridges with me,
No, im going to see the boss, HR, the Vicar, the imam etc.