If I am lending money to my friends and family, how do I know I will get paid back?

Published on: 16 September, 2021

Updated: 17 May, 2023

Using our platform is the smartest way to ensure you get back any money you loan out!

Like any loan, we can’t guarantee that a debt will be paid back, but our data shows that people who use Pigeon get paid back more often than those who don't. We've done our homework and know that Lenders who document, formalize, and keep track of their loans on our platform are more likely to receive the full sum of their Principal back over time. Our platform is built on trust and therefore we trust and recognize that our users will honor their contracts.

We expect that our contracts, the ability to extend your loan, and the ease of use we offer through our platform, will enable a smooth and seamless loan process for all parties involved.

In the unlikely scenario, your loan enters a state of default, you may be able to take legal measures to get your money back if a contract was attached to your agreement & with the guidance of an attorney - our contracts can be used in various court of laws to seek collections or utilize a related system thereof.

For tips on how to foster a trouble-free loan process, visit our blog post on how to best navigate loans with others!

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