I need some advice about letting someone borrow money?

Question

I let my good friend use my credit card to buy a ticket for 280 dollars. all the sudden we arent friends anymore. what happens if he says he wont pay? Is there anything i can do to get him to pay?? or do i have to suck it up and learn from this and pay it??

Answer 1

I have actually learned from this... but the hard way!

I signed (not co-signed) for a car for my younger sister, she got pregnant, stopped working and stopped making the payments. I tried and tried for months to make those payments myself, but I couldn't. The car ended up getting repossessed by the bank, i still owe money because at the auction it sold for way less than it was worth (not to mention, i owed more than it was worth) and my credit is horrible now.

You can try taking it to small claims court. But definetely learn from this experience. Think about it this way, if you can't afford to give them the money as a "gift" (even if they will pay you back), then don't lend it out at all.

Answer 2

Has the event occurred yet? Was it a concert, or airplane ticket, or some other kind of ticket? Did he ask you first before he bought the tickets? That's the key thing.

My advice would be that if you didn't sign the receipt, dispute the charge with your credit card company. Let them know that you didn't make this purchase and you're positive that you didn't sign for this purchase.

On the flipside, every banks' Policy is to press charges in cases of fraud. If you gave him permission, it's not fraud.

I think the Bible puts it best in Deuteronomy 24:10. If you lend to a friend, consider it a gift.

Answer 3

You can take it to a small claims court in your area but probaly won't benefit too much from it. You need to have "real" proof that she was the one who bought the tickets. Did she by any chance happen to sign her name on the signature slip when she used your card. If so that may be of some help in getting her to "legally" pay you back. If nothing can be done though I would suggest you not worry about it but try to never let it happen again. Its hard to get money back from some people. Good Luck

Answer 4

You have just graduated from the School of Hard Knocks. Absent any written agreement, it's your word against his. If you haul him to small claims court, he can just as easily state that the ticket was a gift to him from you. You are then in a position to prove otherwise.

If he won't pay, chalk it up to experience.

Answer 5

If he's not going to pay then you will. Both with the friendship and for the bill.

Never lend a friend money. It changes the dynamic of the relationship because the borrower is always slave to the lender. It ruins friendships.

Answer 6

You can take him to small claims court in your area. You don't need a lawyer. (It's sort of like People's Court on TV) Make sure you save all the documentation related to the transaction to prove you gave him the money. Credit card statements etc... Good luck.

Answer 7

you can go to small claims court. but they are going to ask you if their was a signed document saying they would pay you back. you do have a good chance of winning though just say it was verbal agreement. and in the future only loan what you can afford to lose~

Answer 8

Unless you have a written agreement, you will be stuck with paying it and learning from your mistake.

If you have a written agreement, you can take him to small claims court.

Answer 9

Call Judge Judy.

Answer 10

Sad thing when friends part over money, but chalk this up to experience,