Has Someone ‘Taken Your Money and Ran’?
How Do You Go About Collecting It…Legally?
Have you ever heard the phrase “Don’t lend what you don’t mind losing”.
In a recent survey conducted by the National Endowment for Financial Education about 25% of people reported they had co-signed a loan for a family member.
57% of people said they have seen a friendship or relationship ruined because one person didn’t pay back the other.
Almost 50% have loaned $100 or more to help out someone, but 55% don’t get repaid.
71% lend money to immediate family members, 57% to relatives, and 54% to friends.