When a friend borrows money and doesn't return it, it can cause you distress and dissatisfaction. Here are some suggestions to help you with this:
1.Stay calm and sane: Although you may feel angry or disappointed, staying calm and sane is the key to solving problems. Avoid emotional reactions that can further complicate the situation.
2.Communicate with friends: First, try to communicate openly with your friends. Ask him if he has difficulties or reasons why he is unable to repay the loan. Sometimes, it may be that a friend is in an emergency or in financial difficulty, and a solution may be found through communication.
3.Make a repayment plan: If a friend is really struggling, you can consider working with him to create a repayment plan. Determine a reasonable timeline for him to repay the loan gradually. This will give your friend some time to settle his financial problems while also protecting your interests.
4.Written records: If communication and repayment plans don't work, consider asking a friend to write a written loan agreement or IOU. This makes it clear the facts and amount of the loan and provides evidence for possible legal action in the future.
5.Seek legal help: If a friend refuses to repay the loan and is not positive, you may consider seeking legal help. Consult a lawyer or relevant organization to understand your rights and legal options. They can provide specific advice and guidance.
6.Consider the risk of borrowing: In the future, when you consider lending money to a friend, carefully assess the risk. Understand your friend's credit profile and repayment ability to avoid getting into a similar predicament again.
Most importantly, be patient and persistent when dealing with the situation. Communicate openly with friends and seek suitable solutions. If all else fails, you may consider taking legal action to protect your rights. At the same time, remember to be more cautious when handling borrowings in the future to avoid similar problems happening again. Hope you find these suggestions helpful!
Original article.