Lending money to friends: What are the rules and terms of repayment?
So, a friend of Thandolwethu's was in need and she agreed to loan her some money. After some time, she then realised that her friend was yet to pay her back. What now?
Lending money, especially to friends, is a tricky one. Although you may want to help them out if they are in a tight spot, you need to be aware that if repayment doesn't happen, it could cause some unnecessary problems in the friendship.
To my astonishment on Thursday, my friend claimed that she had repaid me by the gifts that she had given to me, including jackets and shoes, as well as the lunch dates we had been on. I mean, seriously?!
In a situation like this, what is one to do? Write off the debt or insist your friend repays the money?
Take a listen to what KZN had to say about this topic: