A judge reveals an easy way to protect yourself if you loan a friend money 

For small amounts, "never loan what you wouldn't give".

If you loan money to a friend and they don't pay you back and have no intention of paying you back, they shouldn't be your friend

When a friend ask for money, the word "let me borrow" really means "let me have". If I give them money I don't expect it back. If I want the money back , I dont give them money.

"Oh I thought you were giving me $6,000 for free. What do you mean you want it back?" Lmfao.

a LOT of friendships have ended over money. I've had people come to me with a sob story the kids need food I need gas I'll pay you back as soon as I get paid. if they are hurting for money now more than likely they are still gonna be hurting when they get paid. so I hear the same sob story week after week until I don't want to hear from them. just lose my number I don't care anymore. Now I'm hurting for money and I don't call anybody I don't ask for anything because that's not the kind of person I am.

Loans are given by banks. I am not a bank.

i loaned $200 dollars to a friend/ co-worker. its been 8 months and nothing yet. i learned my lesson ._.

'be neither a borrower or a lender'. if I remember that quote correctly.

Why was this recommended to me? I don't have friends. ;-;

Lend money to a friend and the friendship will end :)

Better text example (assume I've leant him $3,000) "For my own record I leant you $9,000 to be paid back in full in three months" they'll probably respond, "No, it was only $3,000 and they confess

NEVER, Ever,Ever,Ever loan money to anybody. Period.

Never lend huge amounts of money. Any amount of money you loan to a friend has to be an amount you are okay with losing if they decide not to pay you back. If they don't pay you back, the plus side is you at least found out that person is not really a friend and you can end the friendship and not waste anymore time or money on them.

I loaned my neighbor before. The wife told me that she would give it back as soon as she got her money. It took them one year before they were able to give the whole amount of money back. I learned my lesson.

I don't loan money unless I can kick the person's ass without breaking a sweat. But seriously, get it in writing and talk about collateral when you do it. I have happily taken collateral and the person relieving their debt was equally as happy. But if the original contract is in writing it's a lot easier to kick their ass and not feel guilty about it. TL:DR; I don't loan money.

I liked this. That was good. I wish they had daily little clips like this to watch. I'd watch them all the time.

NEVER loan money.

I've learned the hard way with my family... Sometime ago I had lent out 3,000 to my mother over the course of a few few months and she paid most of it back but was short 200... fine w/e a few years later I had just under 390 in pocket the computer I wanted to buy was about a bill and half more. When I had asked my mother if she could loan me 150 bucks and I even told her it would be easy for me to pay her back over 3 months. I would have had to cut out on the snacks but it would have been very doable but she started acting like I had asked for a million bucks.... My first WOW moment. Same issue with my father he's been taking his sweet time paying me back my kindness for my family cost me an i5 computer that had a quad core cpu and bult in wifi. Long short loaning to family or friends ruins friendships. Never loan people shit unless its in writing and and you can sue the fuck out of them.

lending money is hard even to friends ,cause you gona wait long for that money back and when you get it goes just as quickly , just lend to people with strong morale code

If you have a friend that annoys you and you want to get rid of him/her forever, loan them some money.

Here's what I've done in the past - I wrote my name and driver's license saying I'm lending $xx.00 amount to that person writing their name and expect to be paid back at xxtime. We signed it before a notary. If they'll do that, they're serious about paying you back or dumb.

RU-vid's recommending algorithm need work

Moreover, if you are the person that is receiving the money, you should make the effort to ensure the transaction is documented and everything is understood, and not put that burden upon the person you are depending on. Common courtesy.

Girls at my school don't give back mony, so what I did was go to the assistant principle, and told him if I lend someone money, they would have to pawn something of value or sign a paper saying "This paper I (Your name on a line) am signing states that I will pay back (My name) the () amount of money in 2 days and if I do not pay back in 2 days, I will be reported to the assistant principle. " 2 days being for the end of the week. One girl didn't take it so seriously. I paid her $3 for snacks for a football game we had on Monday. I went up to her on Wednesday, I'm like "Where's my money?" She said ,"I ain't payin' you back." I Went up to the assistant principle, the girl got called up there, and got a lunch detention each day she didn't pay me back. I got the money back.

Thanks for clarification to do!

Just don't do it, people need to learn to say no

I thought he was gonna say "just don't lend people money."

lol I used write mini contracts on a post it note and have my friend sign it.

Something wrong with society that we need advice from a judge give our friends money.

Text messages have no legal power and are not binding. This suggestion of a text without a signature is ridiculous.

If you want a record, just have them jot down an IOU at the time you hand over the cash. You don't have to call it a receipt or record or whatever if you think it sounds weird, but that's what it is. Personally though if I lend a friend or family member money, I just consider it a gift and if it gets paid back then that's a bonus. It's not worth destroying your relationships over a few bucks. Now obviously not everyone can afford to lose that money and a couple hundred bucks could be the difference between keeping the heat/lights on and freezing your ass through winter, but if that's your situation, you really can't afford to be lending out money; you should be the one asking for help under those circumstances.

People need a judge to tell them this? I'm no judge but I know, without any written agreement, its a gift.

Another thing to take advantage of in this electronic age is the comment line. For instance, if you are both customers of the same bank and you're electronically transferring the funds from your account to theirs, type "loan" in the comment line.

try to be a little sly with the text my dude, no one is gonna answer back to that lol

I do not loan money unless it is a close family member or friend (we have to be friends for at least two years). That's rare, by the way. Other avenues have to be considered before the loan. Also, it depends on the amount. I always have a contract and the person signs their name and date. I give them plenty of time to pay me back, but if they don't, then I would take their ass to court.

You can use an app to keep records of loans you have given and taken, which usually sends reminders to people by itself.

my sister lent me $1,000. i paid her back $700. im still trying to pay her back the other $300 and she refuses to accept it

But what about not refuting an averment being acquiescence to the claim?

Just don't lend or give anyone money. People are quick to forget your generosity & will deny you lent them anything to avoid paying it back. Besides, if they don't have the money now, they never will so how can they pay you back?

Very simply put. Words and promises evaporate, so put it in writing, because the pen is mightier than the sword. Best thing to do is do not loan and do not borrow. The only thing you should lend money to is the ATM/your Bank account.

send the message before you lend

Don’t loan money to family

I remember I was in Rio with a group of students, for reference I was a 21 year old student manager of a group of 5 or so students, one of the directors sent this 30-somthing bellend to my room (to add some more context, he was a pillock who thought he was hot-shit). What ended up happening was I told him via text that I could only loan him in pre-set chunks of Brazilian reals (I.e $100 for X Reals)but, what ends up happening is he bursts into my hotel room and has drastically less money then I commissioned. When I ask him to leave, he starts "negotiating" (more like intimidating) and won't leave until I give him the money (which he claims he will, "pay me back") so, to get him the factor out I give him the money with the understanding he gives me the difference of 7 dollars before we leave the country. Cut to 2 days later, I found out that he jumped town to Fortaleza to stay with a local -whore- girl he plans to make his "fiancé". I'm understandably livid that he ran off but, nothing you can do and the sentiment that it's "only seven dollars" consistently spat in my face as thoughts of "Dangan Ronpa"-esk punishments run through my mind. Now, I'd did get my just deserts, all be it petty, I had planed to use some of my money I got from being a manager to host a dinner party back in the US for those I was in charge of as well as the directors and the other managers. When it came time to hold the party I "accidentally" forgot to invite him (he was notably pissed but, to that I say, *KARMA*). Moral of this story, have a record of your loans as well as screen the people you are giving the loans to (I.e, make sure your in a secure public area so that if it comes to it, you can walk away and not get brutally attacked in your own room).

i have a question if i loan money from e company my lawyer agree to py fees do i have to make a contract with him

Well, of course there's this way, but I was thinking he was gonna say to get collateral.

Sooo if you borrow money to a friend you gain an enemy, but if you borrow money to an enemy you earn a friend?

Write "Loan" in the memo section of the check. Never give out cash.

all you have to do is sign a piece of paper and It counts.

I have loaned money to family and friends always got paid back sometimes a little late but I got paid back

This may be late but one of my friend need 5k and if i send her a text saying that i will loan her the money and she has to lay it back in set date and she acknowled that she will, does that still hold up ik court if i have it saved or screenshot?

From experience i dont lend money anymore

Just have an informal IOU

My screenshot folder is quite expansive.

Never trust anyone with money.

So what does he mean by "problematic" at the end?

I dont like borrowing money or loaning it out.. Only time i borrow money is only small amounts like 100 then pay back next day

I owe a friend $500 needed to pay $560 in 2 weeks, Now I didn't paid it on the due date because of financial problems I had. She charged me $10 a day late fee. I ask her to pay her every week which I did paid the main loan off but tha late fee is keep on going even though Im paying her every week. So my late fees now is $1100. Is that even legal? I already paid her.

I feel hurth because I now need a friend and the same people dissappeared

get it signed on paper even better with a witness, before handing over a penny

"Neither a lender nor a borrower be"

I have my son a small loan of a million dollars. Do you think I'll ever se the money again?

I m trying to get a friend to pay me $1000 he collected from me in June.he was supposed to pay me back end of July. July came and it became middle of August.Middle of August came, it is now a story of “ I don’t know when,but I know I will “! Seriously?

Seems like a no brainer.

Trying to establish and document the terms of a loan after the fact is a stupid thing to even suggest. Doing so by text is even stupider.

Friendships can go bad. Then what? Keep proof

think like a banker

So what are my chances of getting my money back if all I have are text messages?

Dear RU-vid users, Just so i have this clear for my own record, and tax purposes, I lent each one of you 10$, and you agreed to pay me back in 30 May 2017. Acknowledge that for me so that i have a record of it.

Get physical collateral worth more than loan...

it will remain problematic ? for who? borrower or lender?

I have same satiation he don’t wanna pay me back I have document back statement clearly wroth he should pay back I’m small business owner the money is also send from my business account is there is any way that I can get back my money

Collateral collateral collateral

This is all common sense. Shouldn't even need to be brought up.

Never loan money if you can't afford a gun.

I gave Money to one of my cousin he was elder .he asked me 2000 rs that was my one month pocket money with out any thought I gave him.he told he will return money at the end of the month after getting salary.after one month i sent him hello to him in WhatsApp to ask him money.he didn't reply.i messaged him after one week this he blocked me 😑😥.this is really big betrayal.2000 was really big money to me at that time.any way he thought me a lesson.

Just say “No” and move on.

Step #1: Don't lend money to your friends.

You never loan a friend money. If a friend needs money, you give them money, then a hug and when they thank you, you simply reply, "fuggedaboutit". And that's that... Capisce?

always problematic, texts can easily be faked. nothing short of a written contract will do.

*Hot Bench* still sounds like some kind of taboo sex act

early early early

forsen

thxs i owed a drug dealer 20K and i won and i got 17K....jk

close your eyes and listen, you will hear donald trump

The eyes are alive as ever, but skin must be worked on.

I don't see how a text is proof I mean I could just chill with my friend and text myself back.....then they owe me whatever I want? Complete bullshit right here folks.

The only person you should lend money to are family members.