I loaned some money to a person that I shouldn't have...now what?
January 7, 2013 10:12 AM Subscribe
I realize that YANML but I find myself in a dilemma and I'm not sure how to proceed.
posted by masters2010 to Work & Money (13 answers total)
I recently started a F&B business and hired a staff of 10+ people. I offered the position of lead bartender to someone with lots of experience and good references, noting that if things went well he would become a manager. Prior to opening, he told me that he was in a tough financial position during the off-season and between jobs and asked to borrow $300. I lent him the $300 and we both signed a piece of paper saying, "I, ---, acknowledge that I am borrowing $300 from --- on 11/12/12."
Things did not go well and I ended up firing him on his first shift. He had no interest in being there, had a bad attitude, didn't attend our most important training, was saying "not my job" within the first hour, etc. Anyways, it's been a few weeks since and he has not yet paid me back. He flip flops between texting me that he'll get it together soon and that he was promised a manager position and this is bullshit. I have both a signed piece of paper and text messages acknowledging the loan. He just messaged me that no time table has been set and he therefore has "a lot of time to take care of it" but I know he's working a job where he's making $300 in tips easily in two shifts. I asked him to get it to me before the end of the month.
How do you think I should proceed? Wait it out until the end of the month and see if he pays up? Demand the money earlier? And if he doesn't pay? I feel like a lawyer wouldn't be worth the sum of money, but it's a small town and I could definitely spread the word...