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Reply to "How to ask for loan money back?"
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[quote=Anonymous][quote=Anonymous]You can ask all you want. You aren't likely to ever get paid back though. You've probably just learned the hard way to never loan anything you can't afford to not get back.[/quote] Our relative asked to borrow money. We knew that they were terrible with money and there's a good chance that we may not get it back. So, we loaned them only a portion of the requested amount... an amount we can live without. But, we still had them sign a contract with a promise to start repaying us after one year, and on a monthly installment basis. It was tricky being all business about this, but we wanted to avoid bad feelings between us. So, everything had to be in writing. To our surprise, they paid up. There were a few missed payments, but it worked out. Also, they have not asked to borrow money again! [/quote]
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