Rules to Follow When Lending Money to Friends andFamily

 

借钱给家人和朋友的法则

 

Never Let the Due Date Slide

 

不要把最后期限一拖再拖

 

If your dinero doesn't show on time, ignoring the lateness or making excuses for not confronting the borrower would be a mistake.She might continue going along as if the due date you set is a loose guideline rather than a rule.

 

Make it more businesslike, so neither of you feels like you're taking advantage of the other. "I did this the last time I lent money to a friend," says Ellis, who suggests putting details about a late penalty in your written agreement; a friend would have to pay the penalty on top of the regular payment. This tactic would hopefully save you from having to send reminders... and save you from regretting your decision to play banker.

 

A five-day grace period, says Ellis, is reasonable before hitting your friend with the fine, since things do happen. If signs are pointing to more serious delinquency—a number of scheduled payments have been missed and numerous follow-up emails or phone calls from you are ignored—it might be a good idea to consult with an attorney. ”If the borrower still doesn’t pay, you can take them to court,” says Prakash.