Among family and friends get used to lend money to borrow. In fact many people finance their businesses in part to family funds. However, doing business with friends or relatives can create inconvenience and unnecessary problems, even it is not unusual relationships deteriorate when something goes wrong.
Shakespeare said that lending money to a friend is the easiest way to lose money and the friend. Things have not changed much since that time. A survey revealed that 43% of the respondents who had lent to friends or family members had not recovered its money in full and 27% had not received a penny.
If you’re going to pay, minimizes the risk of losing money or generate conflicts with the following considerations and suggestions: Read the rest of this entry »