[natsci98]

Hello soompiers, I have a unique situation here which I'm seeking advice. I have borrowed money from a colleague of mine and I will be paying the money back to her in a couple of days. I will be paying the money back in cash and would like some kind of assurance from my part other than her signature that she recieved the money in cash. I am thinking about hiring a lawyer, thinking that this would be the best way to be assured that there won't be any dispute afterwards. The amount of money I would be paying back to her is a substantial amount and I am afraid a single signature from her that she got the money back worries me, because sometimes people can make up different signatures and could claim that it wasn't her signature, and she does not have a good reputation with money matters. Should I hire a lawyer? What would you do if you were in my shoes to be assured that she recieved my money? Any advice would be appreciated. Thanks~

[animeniac206]

How much was it for? If it's for a large amount then I don't think you should pay it in cash, just use it to buy a money order or an official check/cashiers check so that way you have a record of the payment. Or get a written receipt for it and have both of you sign it.
Beside, a lawyer would cost a lot more money than a money order.

[natsci98]

All I can say is that it is a big amount. And since it is her request , I am trying to give the money in cash.

[derrek]

Unfortunately, I'd set the pleasantries aside for this one and make it a traceable form such as money order. I'm sure she'd like it in cash, but that's just not safe. Just my opinion.

[SeX1eStAsaBa]

If she had a banking account, I would wire that money. I seriously wouldn't trust any one if it was a large sum of money. I'm not sure if you could talk to your bank to see if they had any ideas if there would be a better way to deal with this.

[HERMIT]

Straight up, the only assurance that you can get from transferring money over to your friend is if you directly hand over the money from your hands into her hands, having a third party witness this, and perhaps having you all sign a paper confirming the transaction if you are really going to be thorough about it. And considering that you describe the amount as "substantial", delivery of such cash by means of a third party or simply by mail is just foolish.

The best advice is to purchase a money order or cashier's check and have it delivered via this means. Keep in mind, money orders and cashiers checks are considered as good as cash by financial institutions and should be immediately available for cashing by the issuing bank so long as proper identification is provided. Your friend's endorsement on the back of the money order or cashier's check should be evidence enough that the money was received by the proper party.

If time is of the essence and distance is a problem, there is cheap and innovative way to get her the money:
Obtain her banking information and deposit your cash directly into her account on her behalf.

For example: If she banks with Bank of America and she is in Seattle but you are in Los Angeles, simply ask her for her savings or checking account number and her name as it appears on the account (if she is willing to give you address info as well, so much the better.) Go to any BofA branch in Los Angeles, fill out a generic deposit slip with the info she provides and you can make a direct deposit of your cash money into her bank account. Simply explain to the teller that you are only directly depositing money on behalf of your friend into her account; have the teller verify that the name and account number - as you've provided on the deposit slip - is accurate (having the additional address info also helps in further account verification); and lastly, ask for a deposit receipt upon completion of the transaction.

In making the deposit in Los Angeles, you 'instantly' deliver the money electronically to her without hassle of mailing it to Seattle and having it take a couple of days. And since it is deposited in cash, it should be available for immediate withdrawal by her up in Seattle as well. Your assurance that the money has been transferred correctly to her is the deposit receipt that the teller provides upon completion of transaction. If there is any dispute at all, you can still always go back to the bank with said deposit receipt and have the matter investigated.

[Boomx2Brian]

OR you could just be sensible and deposit in your account and cut them a check. Save urself the lawyer fees

[xpxoxd]

she requested in cash? SHADY.

[oie]

editeditediteditediteditedit

[ganbatte]

How about recording it with a camcorder? It's a lot better than a signature on a piece of paper.

[mikomi]

Whatever you decide to do, since there are a lot of good ideas here, you should definitely refrain from handing her actual cash and make sure you have a 3rd party there to witness. Make sure you are handing her the money in a way that it is traceable- so if you put it into a money order make a copy of it and keep one of the copies for yourself-e-mail her a copy of it to prove that you are informing her of it, ect. I don't think it will turn out so bad, honestly but it's a good thing you're being cautious.

oh, another thing. If you absolutely have to hand her cash, I think instead of HIRING a lawyer you can call a lawyer firm and ask for advice. Advice is free for most places-just tell them you're not sure if it's worth hiring a lawyer over and would like some professional advice. Also, make sure you have documentation somewhere that there were no other extras that she requested from you- like she isnt charging you interest and after she receives the cash in the exact amount you are giving her, you do not owe her anything in any form.

[Stiizy]

i say go with either a Money Order or a bank or certified check all 3 are the same as cash and can all be traced..

I think this is the best way to know your covered since you will always have documented proof..

[Donnerschlag]

Just go to a bank and have them wire the money to their account.

[Chakura]

I agree with everyone here. Instead of paying in Cash try to do it with a Check or something traceable so taht once it deposited it shows up on your statement. I am unsure about hiring a lawyer cause it gonna cost him moeny to draft up a legal documents and get it notarized and everything. The bestw ay is Check, MO, or Wire transfers.

[Raito!]

yes i agree with the recording idea!!!!!11

[Meenuh]

If you're worried about her lying ... take a witness along with you when she signs the paper. Also, I would really consider using check or soemthing that is traceable as everyone has suggested.

[Rainy_OH]

Do no do cash. Money order or check or cashier check. Tell her to get over it if she doesn't like it. Handing a large sum of money over to some in cash is kind of shady, period.