www.forexeasytips.com Looking for best Forex Broker? Learn How to Trade Forex like the pros! Most FX traders lose money, don’t be one of them! Learn Forex for free here and get useful Forex courses.
Question by Nat: Borrowing money? If I let someone borrow money what is the best way to ensure that I get my money back?
I have let people borrow money in the past, usually $ 10 or $ 20, but now a close friend wants to borrow rather a huge amount of money about $ 5000. If I let them borrow it what paperwork do I need to have to ensure that I will get my money back? Or is it a risk I will have to take?
Best answer:
Answer by newjerseyguy
You can have them sign a promissary note, but it is still a risk. Lending to family and friends is not a good idea unless it is truly a life or death emergency.
Give your answer to this question below!