‘Downgrade good friend status to debtor’: Singaporeans share advice on unpaid loans

SINGAPORE: Friends are expected to be there for each other in times of need, but there are limitations as to how people can extend a helping hand to others, especially when it comes to financial concerns.  

Having a long and unspoken debt between friends can become a delicate issue. With this, a netizen voiced out a concern on social media, seeking advice on what to do if a good friend owes money, but never initiated a conversation about it for a long time. 

With this, others shared their thoughts and opinions on what the netizen can do. Some also shared their experiences and how they handled such unfortunate situations. 

One commented that he/she decided to walk away and terminate the friendship. For him/her, this is a lesson learned. 

Some suggested asking the friend politely and asking him/her for a confirmed repayment date. The netizen can also consider instalment payments and have a written contract that both parties need to sign. 

 “Last solution is to shame him on Social Media with proof and forget about the money…,” one admitted. 

“Downgrade Good Friend status to Debtor. Chase debt every other day,” a comment concluded. 

In the end, borrowing money will inevitably test friendships, and many people have various options on what to do when this happens to them. It is important to take note that this situation can be a reminder that it is okay to help a friend financially, but one must also prioritise trust and boundaries to avoid conflicts in the future. 

In other news in relation to many, there was a report where an Indonesian domestic helper has been sentenced to jail after stealing more than S$56,000 from her 82-year-old employer over eight months.

Investigations showed that the suspect secretly memorised the victim’s ATM card PIN while assisting her as she withdrew money. The helper, addicted to online gambling, then had the idea of stealing funds for her addiction.

Read more about the news story here.