When a “good friend” goes too far #biggerpockets #personalfinance #shorts

Summary

When someone asked Mindy and Scott what to do after they took a loan out in their name to help a friend, they were stuck paying the payments because the friend had lost their job. They recommend assuming the friend isn't going to pay back the loan, confronting them, and considering legal action. If you're going to lend to somebody in the future, have a contract in place and have mechanisms and collateral to collect on that.