Comments on: Lending Money (Your Advice) - Europe On $5 A Day - Roads To Riches - Cheap Ice-Cream Today

By: mr, John Daniel

mr, John Daniel — Tue, 03 Jul 2007 09:41:43 +0000

sorry for the mistake.cabia is my wife name,
Thanks mr John Daniel

By: mr, John Daniel

mr, John Daniel — Tue, 03 Jul 2007 09:37:31 +0000

pls i want to know how to write letter of agreement,because i want to lent my friend some money.

Thanks mrs cabia

By: livingplanet

livingplanet — Thu, 03 May 2007 21:21:12 +0000

i lent money to four good friends. they didn’t pay it off. the deep friendship ended. you learn. also, i realized early on the value of credibility and maintaining it. if you need the $, then you’ll have to sue or sell the loan somehow. if you don’t need it, avoid the stress. karma will take care of it.

btw, baskins was closed by 8:45 in tucson…..

By: Joey

Joey — Thu, 03 May 2007 09:46:39 +0000

Consider the money gone. Even after going to the extreme of suing, which I did, there is still that little issue of collecting. You cant squeeze blood from a turnip. It just turned to a nightmare. Now, I only loan money that I assume I will never see again. And turns out I like my money so I dont loan to anyone. Consider it lesson learned and move on.

By: Alex

Alex — Wed, 02 May 2007 16:42:08 +0000

I am a lawyer, though this is not my specialty. A couple of broad notes:
1) Document everything. The more emails, letters, bank statements you can provide, the better. Try to get your friend to send you something you can use in court, for instance sending them an email with the hopes that they respond by email with some sort of acknowlegement of the debt.

2) The clock is ticking. The law only gives you a limited amount of time from the date of the injury to bring suit.

3) Reduce expenses. Small claims court and representing yourself is probably the way to go (if you decide to go to court). Remember, even a legal judgment will not guarantee that you get paid, as courts can be bad at recovering money from insolvent defendants.

By: mitchell

mitchell — Wed, 02 May 2007 14:42:07 +0000

my research has revealed thus:

verbal contracts are almost equally as binding as written ones. there are some exceptions, but this case does not appear to be one.

you can take this to small claims court if you prepare well and will possibly win.

in order to do so, you need to make sure you obtain these things:
1) proof that your former friend DID receive the money
2) proof that they DID start to pay you back
3) any witnesses possible that might have overheard anything relevant (either the agreement itself or you discussing the agreement in some form)

write your former friend a letter stating that they still owe you money, stating that you have proof of the loan and proof that they acknowledged it by starting to pay the loan back, and tell them exactly what they need to start doing in order to continue to pay the debt back to you. send the letter certified with a return receipt.

if they get the letter and refuse, or refuse to accept the letter, take them to small claims court. if they start to pay you back again, bonus. even more proof for small claims court in the future if they stop paying again.

disclaimer: i’m not a lawyer, this is just what i’ve collected via internets.

By: iforce

iforce — Wed, 02 May 2007 12:03:09 +0000

You have two choices:

1) Go to court - maybe small claims where a lawyer is not needed

2) write the money off