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A judge reveals an easy way to protect yourself if you loan a friend money

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Written, signed , and notarized contract
Comment from : @MoonInPisces1962

And I would make sure I get an acknowledgment before you give them the money But my mother always says never loan money that you can’t afford to lose
Comment from : @rn2811

This may be late but one of my friend need 5k and if i send her a text saying that i will loan her the money and she has to lay it back in set date and she acknowled that she will, does that still hold up ik court if i have it saved or screenshot?
Comment from : @locomexican105

Just say “No” and move on
Comment from : @asifahamed8740

Seems like a no brainer
Comment from : @HurricaneIrene07

From experience i dont lend money anymore
Comment from : @carthy29

I have same satiation he don’t wanna pay me back I have document back statement clearly wroth he should pay back I’m small business owner the money is also send from my business account is there is any way that I can get back my money
Comment from : @nasirnasiri5818

Thanks for clarification to do!
Comment from : @armiebarr725

So what are my chances of getting my money back if all I have are text messages?
Comment from : @nichegoseberazdvatri

I gave Money to one of my cousin he was elder he asked me 2000 rs that was my one month pocket money with out any thought I gave himhe told he will return money at the end of the month after getting salaryafter one month i sent him hello to him in WhatsApp to ask him moneyhe didn't replyi messaged him after one week this he blocked me 😑😥this is really big betrayal2000 was really big money to me at that timeany way he thought me a lesson
Comment from : @veera2017

forsen
Comment from : @FourTelling

You can use an app to keep records of loans you have given and taken, which usually sends reminders to people by itself
Comment from : @vivekrathore2162

I loaned my neighbor before The wife told me that she would give it back as soon as she got her money It took them one year before they were able to give the whole amount of money back I learned my lesson
Comment from : @hannahg5268

NEVER, Ever,Ever,Ever loan money to anybody Period
Comment from : @magicworld3242

Don’t loan money to family
Comment from : @johnott4149

I owe a friend $500 needed to pay $560 in 2 weeks, Now I didn't paid it on the due date because of financial problems I had She charged me $10 a day late fee I ask her to pay her every week which I did paid the main loan off but tha late fee is keep on going even though Im paying her every week So my late fees now is $1100 Is that even legal? I already paid her
Comment from : @gwenjohnson8685

Collateral collateral collateral
Comment from : @marleyjanim5033

NEVER loan money
Comment from : @ThePeterDislikeShow

I m trying to get a friend to pay me $1000 he collected from me in Junehe was supposed to pay me back end of July July came and it became middle of AugustMiddle of August came, it is now a story of “ I don’t know when,but I know I will “! Seriously?
Comment from : @Chaneldavis779

Here's what I've done in the past - I wrote my name and driver's license saying I'm lending $xx00 amount to that person writing their name and expect to be paid back at xxtime We signed it before a notary brbrIf they'll do that, they're serious about paying you back or dumb
Comment from : @donperrignon

Lend money to a friend and the friendship will end :)
Comment from : @robertcollins5307

I have my son a small loan of a million dollars Do you think I'll ever se the money again?
Comment from : @Anteater23

i have a question if i loan money from e company my lawyer agree to py fees do i have to make a contract with him
Comment from : @armendguci9440

Very simply put Words and promises evaporate, so put it in writing, because the pen is mightier than the sword Best thing to do is do not loan and do not borrow The only thing you should lend money to is the ATM/your Bank account
Comment from : @jacquelinemanzano9328

I've learned the hard way with my family Sometime ago I had lent out 3,000 to my mother over the course of a few few months and she paid most of it back but was short 200 fine w/e a few years later I had just under 390 in pocket the computer I wanted to buy was about a bill and half more When I had asked my mother if she could loan me 150 bucks and I even told her it would be easy for me to pay her back over 3 months brbrI would have had to cut out on the snacks but it would have been very doable but she started acting like I had asked for a million bucks My first WOW moment Same issue with my father he's been taking his sweet time paying me back my kindness for my family cost me an i5 computer that had a quad core cpu and bult in wifi Long short loaning to family or friends ruins friendships Never loan people shit unless its in writing and and you can sue the fuck out of them
Comment from : @emarine

I feel hurth because I now need a friend and the same people dissappeared
Comment from : @gender3342

Text messages have no legal power and are not binding This suggestion of a text without a signature is ridiculous
Comment from : @ErnisTheFirst

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Comment from : @samiking5565

Something wrong with society that we need advice from a judge give our friends money
Comment from : @willhaslem

a LOT of friendships have ended over money I've had people come to me with a sob story the kids need food I need gas I'll pay you back as soon as I get paid if they are hurting for money now more than likely they are still gonna be hurting when they get paid so I hear the same sob story week after week until I don't want to hear from them just lose my number I don't care anymore Now I'm hurting for money and I don't call anybody I don't ask for anything because that's not the kind of person I am
Comment from : @Christopher-mn6re

Better text example (assume I've leant him $3,000)brbr"For my own record I leant you $9,000 to be paid back in full in three months" they'll probably respond, "No, it was only $3,000 and they confess
Comment from : @LLHLMHfilms

If you have a friend that annoys you and you want to get rid of him/her forever, loan them some money
Comment from : @DrakeShattuck

all you have to do is sign a piece of paper and It counts
Comment from : @draftingsavant7190

I have loaned money to family and friends always got paid back sometimes a little late but I got paid back
Comment from : @kwaichangcaine8234

Never lend huge amounts of money Any amount of money you loan to a friend has to be an amount you are okay with losing if they decide not to pay you back If they don't pay you back, the plus side is you at least found out that person is not really a friend and you can end the friendship and not waste anymore time or money on them
Comment from : @pauldavis8146

Write "Loan" in the memo section of the check Never give out cash
Comment from : @jimblane1183

Moreover, if you are the person that is receiving the money, you should make the effort to ensure the transaction is documented and everything is understood, and not put that burden upon the person you are depending on Common courtesy
Comment from : @TheBoomshine

send the message before you lend
Comment from : @MrSkePticaL123

lending money is hard even to friends ,cause you gona wait long for that money back and when you get it goes just as quickly , just lend to people with strong morale code
Comment from : @jomolololo4398

always problematic, texts can easily be faked nothing short of a written contract will do
Comment from : @xClaudiaOctaviax

I thought he was gonna say "just don't lend people money"
Comment from : @DanielSilva-ld6gf

The only person you should lend money to are family members
Comment from : @massojupiter3436

But what about not refuting an averment being acquiescence to the claim?
Comment from : @rkba4923

This guy looks like the doctor from Human Centipede sorry for bringing that up
Comment from : @IzaakCha7

Dear Youtube users,brbrJust so i have this clear for my own record, and tax purposes, I lent each one of you 10$, and you agreed to pay me back in 30 May 2017 brAcknowledge that for me so that i have a record of it
Comment from : @thephilosopher4719

Step #1: Don't lend money to your friends
Comment from : @christianmetalpwns

Business insider is a highly censored website run by the anal retentive
Comment from : @johnparker7784

Just don't do it, people need to learn to say no
Comment from : @999124999

"Neither a lender nor a borrower be"
Comment from : @Joe_JesusWins_Lewis

just pull up with the Draco or pistol whip em till they give it to you
Comment from : @milesarroyo8404

My screenshot folder is quite expansive
Comment from : @NJASZN

94 seconds of DUH god people are stupid
Comment from : @BeardyGit89

think like a banker
Comment from : @jigc23

close your eyes and listen, you will hear donald trump
Comment from : @Mohammed124

Just have an informal IOU
Comment from : @kelvink9999

The eyes are alive as ever, but skin must be worked on
Comment from : @jijoe2151

Just don't lend or give anyone money People are quick to forget your generosity & will deny you lent them anything to avoid paying it back Besides, if they don't have the money now, they never will so how can they pay you back?
Comment from : @teebee6134

get it signed on paper even better with a witness, before handing over a penny
Comment from : @MK-ex4pb

Never trust anyone with money
Comment from : @latinoladino1048

Another thing to take advantage of in this electronic age is the comment line For instance, if you are both customers of the same bank and you're electronically transferring the funds from your account to theirs, type "loan" in the comment line
Comment from : @penguincommunity6218

When a friend ask for money, the word "let me borrow" really means "let me have" If I give them money I don't expect it back If I want the money back , I dont give them money
Comment from : @A2TRaNQuiLiiTy

People need a judge to tell them this? I'm no judge but I know, without any written agreement, its a gift
Comment from : @charlesmiller6281

Well, of course there's this way, but I was thinking he was gonna say to get collateral
Comment from : @jordanrioscreations

Why was this recommended to me? I don't have friends ;-;
Comment from : @agrammarnaziwhosalsoaregul7315

Trying to establish and document the terms of a loan after the fact is a stupid thing to even suggest Doing so by text is even stupider
Comment from : @MrSirwolf2001

Never loan money if you can't afford a gun
Comment from : @CogniVision

an easy way to protect yourself when you loan money to a friend is show them a Mexican cartel dismemberment/beheading video while serving him spaghetti and meatballswith lots of marina
Comment from : @gordonsung5941

i loaned $200 dollars to a friend/ co-worker its been 8 months and nothing yet i learned my lesson _
Comment from : @yaboijuan4052

This is all common sense Shouldn't even need to be brought up
Comment from : @ceretomer5987

So what does he mean by "problematic" at the end?
Comment from : @misterhot9163

thxs i owed a drug dealer 20K and i won and i got 17Kjk
Comment from : @deezygfx6316

it will remain problematic ? for who? borrower or lender?
Comment from : @WisdomInExperience

Youtube's recommending algorithm need work
Comment from : @7chanconn7

If they don't pay beat the dog shit out of them
Comment from : @darrellchavez5299

'be neither a borrower or a lender' if I remember that quote correctly
Comment from : @tonysoprano3931

try to be a little sly with the text my dude, no one is gonna answer back to that lol
Comment from : @TheDirtymikenation

I liked this That was good I wish they had daily little clips like this to watch I'd watch them all the time
Comment from : @lateblossom

Sooo if you borrow money to a friend you gain an enemy, but if you borrow money to an enemy you earn a friend?
Comment from : @0marshalljohn

my sister lent me $1,000 i paid her back $700 im still trying to pay her back the other $300 and she refuses to accept it
Comment from : @rudysalas9138

If you loan money to a friend and they don't pay you back and have no intention of paying you back, they shouldn't be your friend
Comment from : @FecalMatador

Loans are given by banks I am not a bank
Comment from : @Kingboldisproductions

early early early
Comment from : @YT_Epic

For small amounts, "never loan what you wouldn't give"
Comment from : @ChrisGerow

lol I used write mini contracts on a post it note and have my friend sign it
Comment from : @snitox

I don't loan money unless I can kick the person's ass without breaking a sweat brbrBut seriously, get it in writing and talk about collateral when you do it I have happily taken collateral and the person relieving their debt was equally as happy But if the original contract is in writing it's a lot easier to kick their ass and not feel guilty about it brbrTL:DR; I don't loan money
Comment from : @saltydiarrhea386