ANSWERS: 9
  • You know, I've loaned money to two friends and havn't seen a dime of it, but seriously, I don't let it bother me. It's just money, I had it at the time and they needed it. Whenever I loan money out, I always assume that I'm not going to get it back.
  • Yes, family and friends will burn you the hardest. I do not know about you but I would just start dropping in and embarrassing them by asking for it or maybe see something of equal or more value and hold it until they do.. that usually works =) Not saying anything or pushing to get paid back helps enable them to take advantage of those who care about them.
  • You loaned them money for a reason. They dont have any. I've been burned many times. Not by the same person either. Rule of thumb, if your going to give someone money, dont expect to get it back. As for getting it back? Thats tough to say, depends on how honorable the person is. I had a guy try and pay me back with beer. A beer isnt gonna pay my rent *sshole!
  • One time this happened and I had to literally make her pay me every payday. Not worth it! Ever since, if I am asked for a loan and I decide to go with it, I make it a gift. That way if I receive payment great, and if I don't, I haven't lost anything either. Money is not worth a strained relationship.
  • Never loan money to a friend, if they don't or can't pay you back then you either have hard feelings or they have guilt feelings and begin to pull away from the friendship. If you have it to give them do so, if they pay you back it's a bonus, if they don't you have lost nothing you were not willing to give :)
  • Too many times to count.
  • Never do business with family or friends. Words to live by.
  • Lots! Like The other people in here have said don't loan money with the expectation of getting it back. As for getting them to pay it back you probably never will. My rule of thumb is if you don't pay me back I don't loan to you again. But many people have helped me during my lifetime and I feel a responsibility to pay it forward. But there's always the old saying if you loan someone 20 bucks and you never see them again it was probably worth the 20 bucks! LOL
  • Loaning money to family/friends ruins lots of relationships. The basic idea is dont do it - ever. If they guilt trip you into it or you are just a sucker without a backbone to say no give them the money ask for repayment but expect nothing. Consider anything up to $300 a gjft not a loan. Anything from $300 upwards have them sign a simple contract. Look it up on Google. The date you loaned it, how much, the amount they need to repay say $25 every pay day or once a month whatever, is interest being charged and when the pay back date should be complete. Have them sign it and record the transaction on your phone.. Make it clear this is a one time deal. Give them the contract back when they have repaid it or use the contract when you take them to small claims court to get your money back And just so you know, if small claims agrees with you and says they owe you it doesnt mean they are going to pay you.

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