A judge reveals an easy way to protect yourself if you loan a friend money

Judge Michael Corriero reveals some simple advice on how you can document a loan in case you ever lend someone money. Judge Corriero served on the bench for 28 years and was elected to the New York State Supreme Court. He's currently the cohost of "Hot Bench" and is the founder of the New York Center for Juvenile Justice.

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[ChrisGerow]

For small amounts, "never loan what you wouldn't give".

[ATRaNQuiLiiTy]

When a friend ask for money, the word "let me borrow" really means "let me have". If I give them money I don't expect it back. If I want the money back, I dont give them money.

[FecalMatador]

If you loan money to a friend and they don't pay you back and have no intention of paying you back, they shouldn't be your friend

[Christopher-mnre]

a LOT of friendships have ended over money. I've had people come to me with a sob story the kids need food I need gas I'll pay you back as soon as I get paid. if they are hurting for money now more than likely they are still gonna be hurting when they get paid. so I hear the same sob story week after week until I don't want to hear from them. just lose my number I don't care anymore. Now I'm hurting for money and I don't call anybody I don't ask for anything because that's not the kind of person I am.

[Kingboldisproductions]

Loans are given by banks. I am not a bank.

[yaboijuan]

i loaned $200 dollars to a friend/ co-worker. its been 8 months and nothing yet. i learned my lesson ._.

[tonysoprano]

'be neither a borrower or a lender'. if I remember that quote correctly.

[A_Goat]

"Oh I thought you were giving me $6, 000 for free. What do you mean you want it back?"
Lmfao.

[agrammarnaziwhosalsoaregul]

Why was this recommended to me? I don't have friends. ;-;

[robertcollins]

Lend money to a friend and the friendship will end :)

[magicworld]

NEVER, Ever, Ever, Ever loan money to anybody. Period.

[LLHLMHfilms]

Better text example (assume I've leant him $3, 000)

"For my own record I leant you $9, 000 to be paid back in full in three months" they'll probably respond, "No, it was only $3, 000 and they confess

[hannahg.]

I loaned my neighbor before. The wife told me that she would give it back as soon as she got her money. It took them one year before they were able to give the whole amount of money back. I learned my lesson.

[pauldavis]

Never lend huge amounts of money. Any amount of money you loan to a friend has to be an amount you are okay with losing if they decide not to pay you back. If they don't pay you back, the plus side is you at least found out that person is not really a friend and you can end the friendship and not waste anymore time or money on them.

[emarine]

I've learned the hard way with my family... Sometime ago I had lent out 3, 000 to my mother over the course of a few few months and she paid most of it back but was short 200... fine w/e a few years later I had just under 390 in pocket the computer I wanted to buy was about a bill and half more. When I had asked my mother if she could loan me 150 bucks and I even told her it would be easy for me to pay her back over 3 months.

I would have had to cut out on the snacks but it would have been very doable but she started acting like I had asked for a million bucks.... My first WOW moment. Same issue with my father he's been taking his sweet time paying me back my kindness for my family cost me an i5 computer that had a quad core cpu and bult in wifi. Long short loaning to family or friends ruins friendships. Never loan people shit unless its in writing and and you can sue the fuck out of them.

[lateblossom]

I liked this. That was good. I wish they had daily little clips like this to watch. I'd watch them all the time.

[donperrignon]

Here's what I've done in the past - I wrote my name and driver's license saying I'm lending $xx.00 amount to that person writing their name and expect to be paid back at xxtime. We signed it before a notary.

If they'll do that, they're serious about paying you back or dumb.

Just don't do it, people need to learn to say no

[jomolololo]

lending money is hard even to friends, cause you gona wait long for that money back and when you get it goes just as quickly , just lend to people with strong morale code

[DasherOfficial]

Girls at my school don't give back mony, so what I did was go to the assistant principle, and told him if I lend someone money, they would have to pawn something of value or sign a paper saying "This paper I (Your name on a line) am signing states that I will pay back (My name) the () amount of money in 2 days and if I do not pay back in 2 days, I will be reported to the assistant principle. " 2 days being for the end of the week. One girl didn't take it so seriously. I paid her $3 for snacks for a football game we had on Monday. I went up to her on Wednesday, I'm like "Where's my money?" She said, "I ain't payin' you back." I Went up to the assistant principle, the girl got called up there, and got a lunch detention each day she didn't pay me back. I got the money back.