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Loaned a friend cash, worried he might not pay in time

SSgt Dickweed

SSgt Dickweed

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I loaned a former work buddy some money to expand his food business last year. I made him sign a notarized contract stating he will pay 4 installments of the principal + interest starting next month for 4 months. I reminded him that the first installment is due next month. He replied that he'd rather pay in full on October, to which I said ok.

I think I made a mistake. I also suspect that he used the money for his regular stuff (wife and kid) and not really business related.

Am I right to suspect something odd or am I off? What can I do to ensure that he pays without pissing him off and straining our relationship (not really close)?
 
You fucked up putting yourself in this situation. Damnit man....make your peace now with the possibility of that money never coming back your way
 
Hit him in the kneecaps repeatedly. Preferably until a fracture occurs. You also must be sure to ask him if your dob was yesterday while he can't answer because he is screaming in pain.
 
Did you think you could be his friend and loan shark at the same time? Wait till a day after and break his knee caps.
 
You loaned money. Something I try to never do unless its with trusted close friends. My advice is to just hound him for the money till you get it. Always worked for me.
 
Stitch was never my friend.

But seriously, you're unlikely to ever see that money again. Loaning friends money almost always turns into a gift rather than a loan. They wouldn't have had to borrow the money in the first place if they have enough money to easily pay you back. Sending a couple guys over to his house to break his legs is pretty much the only way you aren't going to be last on his list of things to pay.
 
TS: Do you think I'll get my money b...

Anyone with any wisdom:
<36>
 
Beat them up like Stewie did to Brian on Family Guy
 
The only reason he would want to pay in full in October is because he doesn't have or want to give you any money now.....and odds are he won't have it in October.
 
The contract I made him sign was processed by the notary public (lawyer) right in front him. I photocopied his ID's and everything. I don't think he intends not to pay, just not on time.
 
Borrow his things as collateral. Don't even have to ask, just take it and tell him as you walk out the door if he protests you know he isn't intending to pay you back ever.

All his cool tech and gadgets. Probably only a fraction of what you loaned him but it will hurt and feel much better for you
 
SSgt Dickweed said:
The contract I made him sign was processed by the notary public (lawyer) right in front him. I photocopied his ID's and everything. I don't think he intends not to pay, just not on time.
Click to expand...
I bet you weren't late writing him that check. Always take collateral lesson learned.
 
It's hard to judge when you won't tell us the amount loaned.
 
If its coke, he's either having a hard time flipping it, or it's all gone.
 
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