TweetThis is going to sound harsh but someone who needs money loaned to them IMO does not manage money well and the last thing I am going to do is give my hard earned money to someone who isn't going to manage it. If I ever did loan someone money it would be drawn up in a legal document and I would come after them irregardless if they were family or friend....but I don't loan ANYONE money so I don't have to worry about this.

At the same time as someone else stated I hate owing people money. If someone buys me lunch then it bugs me until I buy them lunch in return. That's just the way my mind works.

TweetYes, I have loaned money before. Might sound like a hardass , but When I do, I always print a promissory note and make them sign it. At least you have a leg to stand on if you need to turn them over to a collection agency. I once lent this chick a couple thou and ended up turning her into collections. I tied everything I could to get my money out of her. Then a while later I got a letter from her bankruptcy attorney. I got screwed big time. I still see her around and I just think what a scumbag