2006-09-25 14:15:21 · 5 answers · asked by AAinBoston 1 in Business & Finance ➔ Personal Finance
Hopefully you have not given the money yet. But even if you have, tell the person that you would feel more comfortable if he/she would sing the promissory note. It can be a hand written note. if possible, have him/her go to a currency exchange and have it notarized. If not, have a third party sign it as a witness of the transaction that had taken place. Make sure you outline the date expected payment(s) are due. Also, if it were in check form, write loan in the memo portion of the check. Last but least, if you have to resort to calling and looking for the person to give you your money, send out certified letters to the address specifically indicating the dates/times that you have called to attempt to get your money back. Then, send to the phone company to get a list of the call sheet which can verify. Leave messages on the phone and record yourself doing so. Now if you really want to be sneaky with it, use your cell phone to record your voices or video w audio the conversation, if the person makes excuses about notary. make sure you mention that the conversation is being recorded so that the law will be on your side. (its a felony in some states to record a person w/o their knowledge) You have nopw collected evidence needed to take that person to small claims court, whic you should if you don't get it back. At any rate, remeber the next time that you loan out money, have the promissory note prepared in advance. if its a friend, never loan money. It generally makes for a messy friendship and most times ends it..
2006-09-25 14:56:56 · answer #1 · answered by hellokittyt012263 3 · 1⤊ 0⤋
Stationery stores often have blank Promissory Note forms. You can both sign it (even after the money has been loaned). Have it Notarized and keep it in a safe place for future reference. The lender keeps the original, the borrower can have a copy.
I hope your friendship survives the loan... lending to OR borrowing money from friends usually means the end of the friendship.
2006-09-25 17:04:56 · answer #2 · answered by paleblueshoe 4 · 1⤊ 0⤋
Write up your agreement and the requirements of the payback that you both have agreed upon... go to your nearest "public notary". This notary will require both of you to be present and sign this paper and then this paper is legal documentation. Have two copies... one for you and one for him/her.
The notary may charge a small fee like $10 or if your insurance company or banker is a notary sometimes they do it for free as a serve to their customers!
GOOD LUCK ! : )
2006-09-25 14:21:02 · answer #3 · answered by Kitty 6 · 1⤊ 0⤋
If you didn't get it before you gave them the money you are S O L. Even WITH one you don't have any guarantees.
It's nice to help a friend but: Lending money to friends can make them enemies.
2006-09-25 14:19:09 · answer #4 · answered by x_southernbelle 7 · 1⤊ 0⤋
hand it to him
2006-09-29 01:54:55 · answer #5 · answered by Anonymous · 0⤊ 1⤋