What happens when the people you lend money don't pay back?
- Thread starter Stardom22
- Start date
You would still be the one to lose out. They might state in court that they would pay you over the next 10 years. The court would not force them to pay instantly. Only lend to people what you can afford to lose.
That depends on my relationship with the borrower and the amount of money involved. If s(he) is my good friend, I'll give him/her sometime to sort it out.
Someone borrowed money from me but did not repay it. Asked again, I refused. This is the reason why I do not allow others to borrow from me anymore.
In many cases, people may take some kind of legal action. However, this also depends on the amount of money you borrowed. Laws may differ in this regards.
The one who borrowed big money from me was my ex-bf. He borrowed $ 1, 300. He told me he was going to invest something only to know he left the country for Australia with someone else. I just told myself, that he never existed to move on.
When you lend money to people and they don't pay back, I think the authorities are in the best position to render help.
