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Lending Money to Friends and Family? Let Them Sign a Legal Form

†Nowadays, the economy is not doing well as it used to be before. You may have thoughts of quitting on life. You may have overheard people talking about financial difficulties. † ††††††Financia...

†Nowadays, the economy is not doing well as it used to be before. You may have thoughts of quitting on life. You may have overheard people talking about financial difficulties. †

††††††Financial problems seem to haunt everybody. You see people going to lending companies to get financial aid. Some peopleís credit card balances have skyrocketed. Indeed, times are getting rougher and tougher these days. †

††††††What do you do, when a friend or a family member needs financial help? What if they sought to ask you for help? You do have the money. But how willing are you to help?†

††††††In the long run, lending money to a friend or a family member opens up a lot of new possibilities that you may not be in favor of. It leaves you feeling confused whether you should lend them the money or not. If you lend an amount, your relationship with the person is not at risk. If you choose not to, your money is yours but the relationship status is in danger. Whichever option or decision you choose or make, it would all result to a catastrophe. †

††††††Many relationships have been destroyed because of financial problems. When a friend or family member woes you money, your interactions between each other would change. A person who owes you money runs errands for you and does whatever it is that pleases you just because she owes you money. †

††††††In the same manner, you have the tendency to take advantage of the fact the he or she owes you. You might impose a lot of thing on this person because you feel bossy towards him/her. You readily expect that he/she would be doing everything to please you. †

††††††All the more, if your friend or family member is unable to pay, the relationship would be stained forever. Because the borrower is your friend or a family member, youíve got to expect the worst scenario; you will never be paid back. If itís just a small amount, itís nothing. But if itís a large sum of money, itís a big problem. It might even lead you to become the worst enemies of all time. †

††††††Friends and family members would take advantage of your closeness. They think itís alright not to pay you back because of friendship and family ties. On your part, you would rather murmur about your heartaches and disappointments on your own, than risk the relationship. Because you would not ask for the payment, they would again think itís alright to keep on borrowing money from you because you never say a thing about it.†

††††††You might also be encouraging them to make this a habit Ė itís alright to borrow money from other people. †

††††††It really is hard to choose which action you are going to take, whether or not to lend money to them. If you choose to do so or not, it always ends to something undesirable. †

††††††Thus, itís good enough to have your friend or family member sign a legal form or document. This way, you can state there in the form that they shall be paying you back.

††††††††
†This legal form is your instrument in determining their word-of-honor!

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


James is an expert in writing about legal forms and documents that may help you when your in the search of the right legal document. He writes many articles about forms ranging from, power of attorney forms, landlord tenant forms, and almost any legal form that your searching for.



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