We've all done it. Twenty dollars here. Ten dollars there. A dinner. A movie. But I'm not talking about that. Little sums of money like that aren't worth mentioning, and if it's a real friend, then, you shouldn't be keeping track. What I'm talking about is big chunks of money.
Okay, so I was watching Judge Hatchet the other day, and there was a case where a friend was suing her best friend, of 20 years, for $2500. I was shocked at how nasty the defendant was. She acted as if her best friend should not have sued her! But she couldn't seem to understand that she had not repaid her friend for over a year. Her only defense was that they were best friend and friends shouldn't sue each other.
So, it got me to wondering, is it ever okay to LOAN hundreds or thousands of dollars to a friend? If and when you loan money to a friend, should you make them sign a promissory note? If it's a large sum of money, should you allow them to pay you back in installments? Or, should there just be a rule that friends don't loan friends money?
So, it got me to wondering, is it ever okay to LOAN hundreds or thousands of dollars to a friend? If and when you loan money to a friend, should you make them sign a promissory note? If it's a large sum of money, should you allow them to pay you back in installments? Or, should there just be a rule that friends don't loan friends money?
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