Mabini Hall - Access to Justice

In my years of practice, there is no bigger source of anxiety and ruined relationships other than the lending of money  to friends, relatives and lovers. Is this another formulation of money as the root of all evils? Here hopefully are some rules to guide you.

Rule #1. Just don’t. Simply say no. This is the best way to prevent misunderstanding and to preserve the relationship. Lend only if you must in case of extreme urgency or need.

Rule #2. If you must, consider the amount. Try to make it reasonable to the professed need and be prepared to forgive or condone the debt as a gift or donation eventually without however saying it. This way, you won’t have to bear another round of lending by pointing to the previous unpaid loan and you can live with your conscience. If unpaid, then you can move on.

Rule #3. If you must and the amount is substantial, document. Write down the sum, the terms and have it signed. In case it turns sour, you will have at least a remedy. It is better to trust in the tiniest bit of paper rather than the mightiest memory.

More rules to come..