Baltimore, MD - Feb. 14, 2017 - ...Unfortunately too often people ask to borrow funds they will be unable to repay.

If you are approached by anyone for a loan you should carefully check out their ability to repay. Check with a Rav or someone who is aware of the loaners' financial situation for a reference.

Around our city there have been many so-called respected and well regarded persons who are asking for loans - many of these individuals have a history of defaulting on their loans, and have suffered huge losses.

Never loan what you can’t afford to lose. Always have the terms of the loan and the date of expected payback in writing.

A dated check is absolutely no guarantee of future payment, as it can easily bounce.

If you do loan ….consider taking a valuable mashkon [collateral], which is greater than the value of the loan, and write a shtar that stipulates that you can sell the mashkon (jewelry, e.g.,) by a certain date if the loan is still unpaid.