I personally never borrow any money from anyone however I have made two mistakes in my life. I had done a service for an individual whose company went out of business and they now owe me around $8,000 I also have another friend who was in tough times and came to me and I loaned them two grand, so I'm sitting here with $10,000 I personally know that I will never see it. I know their situations and I understand that their intentions to pay me back would be honorable but I will never see it and I accept that. They are good people who came into a bad situation and I tried to help but just didn't happen

Do you have an outstanding IOU

My dad told me never to loan money to family or friends that you expect to get back...hope for it, sure, but don't expect it.

vball10set;1846155 wrote:My dad told me never to loan money to family or friends that you expect to get back...hope for it, sure, but don't expect it.

This.

Can't think of a time I loaned anyone a large sum of money. My friends and I do a lot of activities, so one of will usually pay for it up front and then collect the money. Never had a single problem.

I've never been at the point in my life where people have asked me for help, but will be there soon enough. Will have the expectations vball mentioned when it does. Hopefully my wife is of the same mindset, but we've never talked about it. All of our siblings and close friends are doing pretty well at this stage in life, though.

...I'll give (not loan) to immediate family but nothing to anyone else. I loaned a small amount years ago and never got it back. Lesson learned with me

I have loaned a couple grand to a close family member once and it was paid back timely. Offered to loan a friend 1k in a time of need but he apparently went elsewhere. I have been burned, but nothing over $100 per occasion, so I've learned who to loan or front money to and who not to, and frankly I've distanced myself from those who haven't paid me back. The amount of money itself I've been burnt on really isn't a big deal, its the principle of paying someone back that I take issue with more than anything.

A buddy of mine still owes me $500 for a his half on a trip (lodging, boat rental, etc....). I've asked him several times, nothing. Didn't get him a wedding gift and figured it was close enough.

Pick6;1846172 wrote: The amount of money itself I've been burnt on really isn't a big deal, its the principle of paying someone back that I take issue with more than anything.

exactly