posted on Oct, 20 2007 @ 12:50 AM
I learned not to lend money to people -- especially friends -- long ago. It's the surest way of losing friends and your money.
If you really feel inclined to "help someone out", always...always get it in writing. An I.O.U. or even a simple contract (i.e., " I am
loaning ____ said amount of money to be repaid in a specific time period") is always a must.
I know that some people, typically the one doing the loaning, often "feels" that such a note isn't necessary or that he might be "offending" the
person asking for the loan but, when you think about it, that's ridiculous.
Friendship is one thing but whenever money is involved, it's business. If you want to keep your friends, either don't loan them money or, if you
do, always get it in writing. It's really the best way to preserve your relationships.