by Choco Pie

Created on: November 02, 2009

It has been said that a true friend is gem and if you find one, take care of the friendship, because they are rare and will stand by you when everyone else has walked away. But oftentimes, due to differences in financial status, lifestyles and money management literacy, friends asked if they could borrow money from us, promises to pay by next month, and being a good friend, loaned her some cash to help ease her financial burdens.That was a month ago and now, your friend is avoiding you. Whenever you get a chance to talk to her regarding her loan, she would give you an excuse about not having enough money yet and promises to pay you back as soon as possible.

This cycle could go on for several months. As a result, the friendship slowly turns sour and feelings get hurt. What used to be a great relationship becomes an emotional burden. Each month that the loan remains unpaid, you lose more hope on getting your money back. Consequently, feelings of anger and resentment towards your friend begins to consume you.

Many times in our life we would be asked by a family member or a friend if they could borrow some money. Reasons may differ but almost always, it's our intention to be a good friend that moves us to extend a helping hand.

"Neither a borrower nor a lender be." This is a famous line from Shakespeare's Hamlet. It is indeed very difficult to subscribe to that idea, but maybe it is best if we should only lend out money which you can afford to lose. So if you find yourself having a difficult time getting paid back, then you can just let go. Yes, just forget about the loan.

Assess your financial situation and determine if you really need the money. If not, then it might be wiser to just let go. Forget about the money and take the lesson instead. Let go of the anger, don't blame yourself for being so trusting and move on.

Of course, you shouldn't give up and let go without trying to resolve the situation. Here are some of the things you can do to make friends pay back the money they owe you:

Remind them about the loan a few days before his promised date of payment. Don't feel awkward in doing this. A friendly email or a simple text message telling her that you need the money he promised for a personal obligation will not appear rude at all.

When your friend fails to pay on the agreed day. Ask for a specific date when he can finally pay. Don't take vague responses such as next week or as soon as I get this money I'm expecting. Also, the new date should be at most,

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