A judge reveals an easy way to protect yourself if you loan a friend money

[@ChrisGerow]

For small amounts, "never loan what you wouldn't give".

[@lancerd4934]

And for large amounts direct them to a bank and have the employees there explain what a "personal loan" is.

[@1sonia]

Chris Gerow lol, that's what I've always followed myself.

[@A2TRaNQuiLiiTy]

When a friend ask for money, the word "let me borrow" really means "let me have". If I give them money I don't expect it back. If I want the money back , I dont give them money.

[@TzUuup]

Dave Everett all day bro. 1 loan. if its not payed back wether it be a 500 bucks or 20 bucks. if you dont pay me back dont ever ask and i have quite a few on that list

[@jyrolys6]

You have some shitty friends then. I recall forgetting lending money to a friend and he was the one to remind me about it.

[@christopherbrewer2492]

@@jyrolys6 bingo!!!! My exact thoughts!

[@Wildheartbeats]

I guess the amount he's talking about is not 50$ or 200$ but actually in 1000's or even a hundred thousand $

[@Christopher-mn6re]

a LOT of friendships have ended over money. I've had people come to me with a sob story the kids need food I need gas I'll pay you back as soon as I get paid. if they are hurting for money now more than likely they are still gonna be hurting when they get paid. so I hear the same sob story week after week until I don't want to hear from them. just lose my number I don't care anymore. Now I'm hurting for money and I don't call anybody I don't ask for anything because that's not the kind of person I am.

[@mantis8326]

Leonard Shelby sounds like you really needed to let that one out

[@dbsllama6042]

Luis Davila yeah ur prob right

[@FecalMatador]

If you loan money to a friend and they don't pay you back and have no intention of paying you back, they shouldn't be your friend

[@carkid7640]

Al Phuckya well no shit ?

[@andymartinez4332]

Al Phuckya I learn something new everyday

[@FecalMatador]

Chris Coria I'm saying they shouldn't have been your friend to begin with. You don't know how to pick friends that have good morals

[@ritshpatidar]

In my case it is my cousin 😐

[@A_Goat]

"Oh I thought you were giving me $6,000 for free. What do you mean you want it back?" Lmfao.

[@Kingboldisproductions]

Loans are given by banks. I am not a bank.

[@hemagurunh9731]

Joe Boldis mum and dad are banks though :)

[@bojidarmartinov5949]

Joe Boldis but you are dumb

[@jyrolys6]

Friends don't ask for an extra %. They just want their money back. Loaning a friend instead of a bank is a saving measure. And possibly some flexibility if things get rough. The bank would just suck you up dry and leave you on the street. A friend would give you time if you truly couldn't pay back.

[@Kingboldisproductions]

I help friends with their finances if they let me but most people don't like being told how to spend their money. I am pretty damn great at saving money and living life as you can see on my channel.

[@introidegumilang8603]

I agree with the above statement: Loans are given by banks (with it's terms and conditions).

[@tonysoprano3931]

'be neither a borrower or a lender'. if I remember that quote correctly.

[@maebeacook]

Be the lender not the borrower.

[@bicycles-as-far-as-im-aliv5725]

@@maebeacook no be neither for peace of mind & to save ur sanity never be the lender

[@yaboijuan4052]

i loaned $200 dollars to a friend/ co-worker. its been 8 months and nothing yet. i learned my lesson ._.

[@TheXNoLimiTatioNx]

Juan Herrera *I lost $200 dollars to a friend/ co-worker*

[@saltydiarrhea386]

Humiliate them in public. The friendship is gone. Get your money back, even if it's a fraction at a time.

[@Aragon714]

I lent 500 now im waiting for her outside of her new job to get my shit back. 2 months and hasnt paid me back.

[@alinaciobotaru1698]

Anthony Davis wow... that’s a huge amount of money.

[@SuperPhysicsgeek]

take it as a price for filter

[@agrammarnaziwhosalsoaregul7315]

Why was this recommended to me? I don't have friends. ;-;

[@tagaway6173]

me neither. but actually the comments are more interesting.

[@robertcollins5307]

Lend money to a friend and the friendship will end :)

[@dreamqueen317]

☹️

[@LLHLMHfilms]

Better text example (assume I've leant him $3,000) "For my own record I leant you $9,000 to be paid back in full in three months" they'll probably respond, "No, it was only $3,000 and they confess

[@saltydiarrhea386]

I don't loan money unless I can kick the person's ass without breaking a sweat. But seriously, get it in writing and talk about collateral when you do it. I have happily taken collateral and the person relieving their debt was equally as happy. But if the original contract is in writing it's a lot easier to kick their ass and not feel guilty about it. TL:DR; I don't loan money.

[@TzUuup]

Salty Diarrhea what kind of collateral?

[@abe6229]

Salty Diarrhea I really like your username.

[@saltydiarrhea386]

The type of collateral is up to you and the prospective party. I take into consideration what I have the money set aside for and if the person I'm lending to can offer that good, or service. I'll even throw out a wish list, "Got any..?" If I think the potential trade in collateral can make up for the cash debt, then the deal is more likely to occur. Finally, I'm not looking to cripple my finances at home just to help a friend. No means no when you need to say no. If the transaction could compromise a relationship, I tend to decline any offers.

[@saltydiarrhea386]

Thanks man, we are what we eat!

[@pauldavis8146]

Never lend huge amounts of money. Any amount of money you loan to a friend has to be an amount you are okay with losing if they decide not to pay you back. If they don't pay you back, the plus side is you at least found out that person is not really a friend and you can end the friendship and not waste anymore time or money on them.

[@magicworld3242]

NEVER, Ever,Ever,Ever loan money to anybody. Period.

[@hannahg.5268]

I loaned my neighbor before. The wife told me that she would give it back as soon as she got her money. It took them one year before they were able to give the whole amount of money back. I learned my lesson.

[@ThePeterDislikeShow]

NEVER loan money.

[@emarine]

I've learned the hard way with my family... Sometime ago I had lent out 3,000 to my mother over the course of a few few months and she paid most of it back but was short 200... fine w/e a few years later I had just under 390 in pocket the computer I wanted to buy was about a bill and half more. When I had asked my mother if she could loan me 150 bucks and I even told her it would be easy for me to pay her back over 3 months. I would have had to cut out on the snacks but it would have been very doable but she started acting like I had asked for a million bucks.... My first WOW moment. Same issue with my father he's been taking his sweet time paying me back my kindness for my family cost me an i5 computer that had a quad core cpu and bult in wifi. Long short loaning to family or friends ruins friendships. Never loan people shit unless its in writing and and you can sue the fuck out of them.

[@user-sy4mp8hq6i]

BRUH, they are your parents. They probably spent more raising you😅

[@TheBoomshine]

Moreover, if you are the person that is receiving the money, you should make the effort to ensure the transaction is documented and everything is understood, and not put that burden upon the person you are depending on. Common courtesy.

[@maebeacook]

The point of this video is to help others understand "most" people do not have common courtesy with regard to paying someone back the money owed.

[@jomolololo4398]

lending money is hard even to friends ,cause you gona wait long for that money back and when you get it goes just as quickly , just lend to people with strong morale code

[@999124999]

Just don't do it, people need to learn to say no

[@7chanconn7]

KZbin's recommending algorithm need work

[@ErnisTheFirst]

Text messages have no legal power and are not binding. This suggestion of a text without a signature is ridiculous.

[@donperrignon]

Here's what I've done in the past - I wrote my name and driver's license saying I'm lending $xx.00 amount to that person writing their name and expect to be paid back at xxtime. We signed it before a notary. If they'll do that, they're serious about paying you back or dumb.

[@lancerd4934]

If you want a record, just have them jot down an IOU at the time you hand over the cash. You don't have to call it a receipt or record or whatever if you think it sounds weird, but that's what it is. Personally though if I lend a friend or family member money, I just consider it a gift and if it gets paid back then that's a bonus. It's not worth destroying your relationships over a few bucks. Now obviously not everyone can afford to lose that money and a couple hundred bucks could be the difference between keeping the heat/lights on and freezing your ass through winter, but if that's your situation, you really can't afford to be lending out money; you should be the one asking for help under those circumstances.

[@Dash99erOfficial]

Girls at my school don't give back mony, so what I did was go to the assistant principle, and told him if I lend someone money, they would have to pawn something of value or sign a paper saying "This paper I (Your name on a line) am signing states that I will pay back (My name) the () amount of money in 2 days and if I do not pay back in 2 days, I will be reported to the assistant principle. " 2 days being for the end of the week. One girl didn't take it so seriously. I paid her $3 for snacks for a football game we had on Monday. I went up to her on Wednesday, I'm like "Where's my money?" She said ,"I ain't payin' you back." I Went up to the assistant principle, the girl got called up there, and got a lunch detention each day she didn't pay me back. I got the money back.

[@mantis8326]

DASH89ER sounds lile a whole lot of trouble for nothing

[@DrakeShattuck]

If you have a friend that annoys you and you want to get rid of him/her forever, loan them some money.

[@blaow8140]

I do not loan money unless it is a close family member or friend (we have to be friends for at least two years). That's rare, by the way. Other avenues have to be considered before the loan. Also, it depends on the amount. I always have a contract and the person signs their name and date. I give them plenty of time to pay me back, but if they don't, then I would take their ass to court.

[@rkba4923]

But what about not refuting an averment being acquiescence to the claim?

[@DanielSilva-ld6gf]

I thought he was gonna say "just don't lend people money."

[@lateblossom]

I liked this. That was good. I wish they had daily little clips like this to watch. I'd watch them all the time.

[@TheDirtymikenation]

try to be a little sly with the text my dude, no one is gonna answer back to that lol

[@lancerd4934]

The trick is, they have to answer back _before_ you hand over the money, not afterwards.

[@penguincommunity6218]

Another thing to take advantage of in this electronic age is the comment line. For instance, if you are both customers of the same bank and you're electronically transferring the funds from your account to theirs, type "loan" in the comment line.

[@snitox]

lol I used write mini contracts on a post it note and have my friend sign it.

[@charlesmiller6281]

People need a judge to tell them this? I'm no judge but I know, without any written agreement, its a gift.

[@williambarnes5023]

People don't need a judge to tell them this. This never happens by accident. One party is always the gullible fool, and the other is always the malicious cheat. The gullible fool won't learn even when a judge tells him, because he'll think "surely my friend wouldn't", and the malicious cheat wouldn't because then he doesn't get to run off with the money.

[@jyrolys6]

Judging from most other comments, people don't know what borrowing/lending/loaning means. Or are people just that childish that they would take advantage of others kindness, and ignore their side of the deal because there's no proof about the transaction?

[@charlesmiller6281]

Well its only kindness if its a gift. If its a loan then its business. And if you think its a loan when there's no proof of the transaction then its foolishness. That distinction right there is more than most can handle and explains I guess why we need a UTube judge to explain the difference between a loan and a gift.

[@jyrolys6]

When someone asks "Can I *borrow* x amount of cash?" you expect they return it. If someone asks "Can you *give* me x amount of cash?" you see it as he's asking for a gift. The kindness part is agreeing to help the person in need. Could just say no. It came as massive surprise that there's so many court cases over something so basic.

[@mantralibre1367]

It's a gift even with an agreement. Who would bring somebody to court for, say, 500 dollars? I don't know in the US, bit in the EU it would cost ten to twenty times more for ghe lawyer, plus you would probably never make it to court, and have to settle for almost nothing.

[@johnott4149]

Don’t loan money to family

[@MrSkePticaL123]

send the message before you lend

[@teebee6134]

Just don't lend or give anyone money. People are quick to forget your generosity & will deny you lent them anything to avoid paying it back. Besides, if they don't have the money now, they never will so how can they pay you back?

[@rudysalas9138]

my sister lent me $1,000. i paid her back $700. im still trying to pay her back the other $300 and she refuses to accept it

[@jordanrioscreations]

She must really think you need it.

[@TheBoomshine]

I actually hate when people do this. Even if it were my sister, I'd insist she take it on the principal of agreement and fair business.

[@willhaslem]

Something wrong with society that we need advice from a judge give our friends money.

[@jacquelinemanzano9328]

Very simply put. Words and promises evaporate, so put it in writing, because the pen is mightier than the sword. Best thing to do is do not loan and do not borrow. The only thing you should lend money to is the ATM/your Bank account.

[@gwenjohnson8685]

I owe a friend $500 needed to pay $560 in 2 weeks, Now I didn't paid it on the due date because of financial problems I had. She charged me $10 a day late fee. I ask her to pay her every week which I did paid the main loan off but tha late fee is keep on going even though Im paying her every week. So my late fees now is $1100. Is that even legal? I already paid her.

[@FCox-cy2zq]

Just pay her....she was a friend. Do the right thing.

[@armiebarr725]

Thanks for clarification to do!

[@vivekrathore2162]

You can use an app to keep records of loans you have given and taken, which usually sends reminders to people by itself.

[@Dr.Sho_Minamimoto]

I remember I was in Rio with a group of students, for reference I was a 21 year old student manager of a group of 5 or so students, one of the directors sent this 30-somthing bellend to my room (to add some more context, he was a pillock who thought he was hot-shit). What ended up happening was I told him via text that I could only loan him in pre-set chunks of Brazilian reals (I.e $100 for X Reals)but, what ends up happening is he bursts into my hotel room and has drastically less money then I commissioned. When I ask him to leave, he starts "negotiating" (more like intimidating) and won't leave until I give him the money (which he claims he will, "pay me back") so, to get him the factor out I give him the money with the understanding he gives me the difference of 7 dollars before we leave the country. Cut to 2 days later, I found out that he jumped town to Fortaleza to stay with a local -whore- girl he plans to make his "fiancé". I'm understandably livid that he ran off but, nothing you can do and the sentiment that it's "only seven dollars" consistently spat in my face as thoughts of "Dangan Ronpa"-esk punishments run through my mind. Now, I'd did get my just deserts, all be it petty, I had planed to use some of my money I got from being a manager to host a dinner party back in the US for those I was in charge of as well as the directors and the other managers. When it came time to hold the party I "accidentally" forgot to invite him (he was notably pissed but, to that I say, *KARMA*). Moral of this story, have a record of your loans as well as screen the people you are giving the loans to (I.e, make sure your in a secure public area so that if it comes to it, you can walk away and not get brutally attacked in your own room).

[@armendguci9440]

i have a question if i loan money from e company my lawyer agree to py fees do i have to make a contract with him

[@BtownOG]

I dont like borrowing money or loaning it out.. Only time i borrow money is only small amounts like 100 then pay back next day

[@kwaichangcaine8234]

I have loaned money to family and friends always got paid back sometimes a little late but I got paid back

[@kelvink9999]

Just have an informal IOU

[@jimblane1183]

Write "Loan" in the memo section of the check. Never give out cash.

[@0marshalljohn]

Sooo if you borrow money to a friend you gain an enemy, but if you borrow money to an enemy you earn a friend?

[@misterhot9163]

So what does he mean by "problematic" at the end?

[@draftingsavant7190]

all you have to do is sign a piece of paper and It counts.

[@carthy29]

From experience i dont lend money anymore

[@locomexican105]

This may be late but one of my friend need 5k and if i send her a text saying that i will loan her the money and she has to lay it back in set date and she acknowled that she will, does that still hold up ik court if i have it saved or screenshot?

[@jordanrioscreations]

Well, of course there's this way, but I was thinking he was gonna say to get collateral.

[@nasirnasiri5818]

I have same satiation he don’t wanna pay me back I have document back statement clearly wroth he should pay back I’m small business owner the money is also send from my business account is there is any way that I can get back my money

[@latinoladino1048]

Never trust anyone with money.

[@nichegoseberazdvatri]

So what are my chances of getting my money back if all I have are text messages?

[@Chaneldavis779]

I m trying to get a friend to pay me $1000 he collected from me in June.he was supposed to pay me back end of July. July came and it became middle of August.Middle of August came, it is now a story of “ I don’t know when,but I know I will “! Seriously?

[@asifahamed8740]

Just say “No” and move on.

[@MrSirwolf2001]

Trying to establish and document the terms of a loan after the fact is a stupid thing to even suggest. Doing so by text is even stupider.

[@MK-ex4pb]

get it signed on paper even better with a witness, before handing over a penny

[@NJASZN]

My screenshot folder is quite expansive.

[@HurricaneIrene07]

Seems like a no brainer.

[@WisdomInExperience]

it will remain problematic ? for who? borrower or lender?

[@jyrolys6]

Case by case choice. Whoever has better evidence and charisma.

[@marleyjanim5033]

Collateral collateral collateral

[@veera2017]

I gave Money to one of my cousin he was elder .he asked me 2000 rs that was my one month pocket money with out any thought I gave him.he told he will return money at the end of the month after getting salary.after one month i sent him hello to him in WhatsApp to ask him money.he didn't reply.i messaged him after one week this he blocked me 😑😥.this is really big betrayal.2000 was really big money to me at that time.any way he thought me a lesson.

[@kenallenchannel3911]

You’ll become more wiser

[@Anteater23]

I have my son a small loan of a million dollars. Do you think I'll ever se the money again?

[@Joe_JesusWins_Lewis]

"Neither a lender nor a borrower be"

[@gender3342]

I feel hurth because I now need a friend and the same people dissappeared

[@gender3342]

God knows all we do in life people who were not good people karma

[@thephilosopher4719]

Dear KZbin users, Just so i have this clear for my own record, and tax purposes, I lent each one of you 10$, and you agreed to pay me back in 30 May 2017. Acknowledge that for me so that i have a record of it.

[@johnpettersen9492]

Friendships can go bad. Then what? Keep proof

[@CogniVision]

Never loan money if you can't afford a gun.

[@MN-mc8ik]

CogniVision i would rather lose couple hundred than get a felony

[@blaow8140]

I think he means you can't kill someone over money lmao not worth it in the long run

[@jigc23]

think like a banker

[@ceretomer5987]

This is all common sense. Shouldn't even need to be brought up.

[@lancerd4934]

And yet, failure to do so takes up like 90% of cases in small claims court, so clearly it does for some people...

[@cmdctrl4292]

You never loan a friend money. If a friend needs money, you give them money, then a hug and when they thank you, you simply reply, "fuggedaboutit". And that's that... Capisce?

[@claudiaoctavia6340]

always problematic, texts can easily be faked. nothing short of a written contract will do.

[@steampunk888]

Claudia Octavia Oral contracts can still be valid, but the problem is proof. The text is at least some proof, if it pre-dated the loan.

[@claudiaoctavia6340]

any tech savvy judge would / should throw out cel phone "text" evidence because they are so easy to fake. For example I could easily create a text conversation from 'steampunk' using your profile image and predated whenever I want, saying you owe me 10 grand.. This sort of thing is happening all over the internet, especially in social media, where fake texts and tweets are being used to get user accounts banned. And I am not a hacker, videos on how to do just this sort of thing are right here on youtube.

[@christianmetalpwns]

Step #1: Don't lend money to your friends.

[@manujohn99]

Veryyyy trueeee

[@HuskerFox]

*Hot Bench* still sounds like some kind of taboo sex act

[@deezygfx6316]

thxs i owed a drug dealer 20K and i won and i got 17K....jk

[@jijoe2151]

The eyes are alive as ever, but skin must be worked on.

[@FourTelling]

forsen

[@Mohammed.124]

close your eyes and listen, you will hear donald trump

[@Byokku2013]

I don't see how a text is proof I mean I could just chill with my friend and text myself back.....then they owe me whatever I want? Complete bullshit right here folks.

[@steampunk888]

Joe Crockenberg You could, but that would be fraud.

[@Byokku2013]

SteamPunk Kind of my point.

[@Byokku2013]

Holy Drug Lord🔼 Apparently you just take a screen shot and sue bud.

[@momiji9921]

Joe Crockenberg Police has their way to track all the messages & calls etc even it's been deleted...

[@YT_Epic]

early early early

[@massojupiter3436]

The only person you should lend money to are family members.

[@goldenstar_1007]

Lekok nope no one tell them to go to the bank.