Proper etiquette for dealing with someone that is busto

[z28dreams]

Loaning money is never ever a good situation.

People like this piss me off more than anything - they owe you a large amount of money, then give you a hard time when you have the "balls" to ask for it back. It's just ridiculous.

Give him a timeline to pay it off in say, 3-4 installments. In the meantime, take something as collateral until it's paid off (laptop, ipod, or anything he values).