A warning against cheating and lending to a trusted friend

[Fiatless]

Most times people refuse to render help to others because of past experiences. When you are treated wrongly by people you trust, trusting people becomes a problem. This victim will never give a loan to anybody again because of this ugly experience. Lending money is risky which is why it is important to seek collateral before the funds are issued. If you think you are close to the person that asking for collateral might be improper, then let there be a witness or guarantor. To limit such ugly occurrences, give out only what you can afford to lose.

My cousin is very broken mentally and can't share this with any of his family. He can't take any legal action because Bitcoin is not legal. My cousin keeps saying one thing my best friend cheated on me then I told her a lot that what happened happened don't worry about it anymore.

OP since Bitcoin is illegal in your country don't you think it is risky to keep using it? I know in some countries using Bitcoin is a serious offence that can lead to fines and even imprisonment. Now your friend will lose that money because he can't seek legal action. It will be better to obey the law than to become a victim of the law.

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[Wiwo]

Ops you better learn from the experience pf your cousin and never make same mistake in your life,  borrowing people money is not a good financial practice unless you are rendering a lending service that comes with interests, but personal lending without any form of documentation is a bad practices and like i always said never borrow friends and family money that you can lose, because 90% pf them never pay back such loans and if care is not taken this can creat enmity between you and such individual.

I hard similar experience from a friend who hard some financial problems and run to me for help, the amount in question was not that much but he borrowed it from me any ways, and he even gace me pay back date but when the date elapsed my friend refused to pick my calls and refused to pay back, so since then I already leaned my lesson never to trust anyone with money, and if anyone is looking for were to loan money, they can approach the banks or other lending platforms if they have the collateral.

So ops you cousin have to man up and move on because such is life, and we all need to learn from the experience of others to avoid becoming victims in some things like this.

[rybako]

I think your cousin should try to forgive his friend and move on with his life. Forgiving does not mean forgetting or condoning what his friend did. It means letting go of the anger and resentment that are hurting him more than his friend. It means accepting what happened and learning from it. It means focusing on the positive aspects of his life and the people who truly care about him.

I think your cousin should also try to see the bright side of this situation. He may have lost 800 dollars, but he gained a valuable lesson. He may have lost a friend, but he found out who his real friends are. He may have been cheated, but he still has his integrity and dignity.

[Raya One]

Shakespeare said in his Hamlet play, lend money to no one, borrow money from no one, if you, you will lose both money and friends. This is what I always try to follow.

[peter0425]

Isn't there a record of transaction?  If it is transferred through bank or paid in cryptocurrency, there should be a record. $800 can't be paid in person and got forgotten.  It is either the friend don't want to pay at all or your cousin had forgotten it.

He should ask more information on when and how he was paid.  It is quite hard to jump into conclusion and believe what @OP just wrote.  Instead, it only conveys a message that in every money transaction, make sure that there is a proof of transaction either by writing that the person received the amount and should be signed.  This way confusion will be avoided.  

actually even if they have record and even how they wanted to seek for legal action , still they cannot because Bitcoin is banned in their country and letting the authority about the issue will only reflect against them .
and that is the reason why I believe that borrower is confident to deny His loan money because he knew that there is no other way to ask him to pay unless there is a physical action to deal with.

[mich]

I would feel very disappointed in my friend if they never paid me back. It means that my friend is willing to turn away the years of friendship and values money more. I would also feel mad for allowing myself to be taken advantage of by someone I value and trust like family not just as a friend.

Also, would feel betrayed because I do not think that money holds more value then the years and experiences invested in a friendship. I would be so mad if I try to reach out to my friend by text or phone and do not get any type of response especially If I am trying to get ahold of them to find a solution to pay me back that I lent them.

If they decide no never to pay me back the money I lent to my friend when they needed help, I think I would also no longer speak to them afterward. I think the best way to avoid this type of situation is to help your friend with a reasonable small amount that you are willing to help with.

This way you are not risking losing a lot of money even with it feels like a gamble when you lent it out and your intention will feel good because you're able to help even in a small way.