How to Get Money Owed to You

My best friend has owed me a little over $1,000.00 for @ least 3 years now. I have decided I'm never gonna get it back. That's why they say never to loan money to your friends or family because they are the hardest to collect it back from. I know how much that money could help, but after so long, I've chalked it up to a loss & will never put myself on that limb again!

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"If you loan a friend $20 and never hear from them again, it was probably worth it."

I had a $60 friend I had known for 25 years. First time I ever loaned her money when I actually needed it back - every other time I told her not to worry about it, pay me when you can. I haven't heard from her in 9 years now - all over $60! (I did try to contact her but she never came back to town that I know of.)

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It sucks when people you really think you can trust let you down. Grrr, I've adopted a policy (after being burnt) not to lend friends money. I'd try to send her another email, asking if money is tight, could she maybe make a payment plan. Do you have any type of written agreement? Or maybe someone who witnessed the loan? If the amount is substantial you could consider taking her to small claims court. I hate to think that friendship should have to come to that but if it was a lot of money, you have to do what you have to do.
Hope everything works out for you.

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You can't make someone pay you back. Even taking them to small claims court doesn't matter if they decide not to abide by the judgment. That's why you aren't supposed to loan money to friends. It sounds like you've learned a valuable lesson. Every time you loan money, you have to think, "What will it be like if I never see this money again?" You have to be willing to kiss it goodbye or you should not loan it.

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If you're ready to lose the friendship (not sure it could be mended anyway) and you really need the money back, you could take her to small claims court. You don't need a lawyer for that, you can represent yourself and I believe the court costs are minimal and could also be assigned to her if you win.

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