<prompt> Human: About two years ago, I loaned a very good friend 12,000 to get his business up and running. We agreed on a grace period of two years in which I would not need to collect on this loan. Well it has been about two years and three months and unfortunately I am the one that is going to have to approach him about reimbursement. Being that we are such good friends, and I know he is not trying to scam me, we never really got much down in writing or set up any official loan documentation. My question is, what is the best way to begin collecting on this loan? I want to go through all the proper channels aka collect legally and Im certainly not looking to put my friend in the poor-house with an outrageous interest rate...having said that, of course with any investment I am seeking out some sort of return that is greater than that of my original 12k investment. If someone could suggest a plan of action with a sensible interest rate, as well as any other advice on this issue, it would be greatly appreciated. Thanks!  <response>: How about simply asking for it back? Youre probably not going to see a cent of it, but I dont see how it can hurt to ask. 