Not only is it just the right thing to do, it shows that you respect the person who loaned you money and they are more likely to do it again in the future if they know you appreciate it.
EDIT: Should have been more specific. Basically like /u/k80_k said:
LPT: if you can't pay it back right away - talk to them about when you plan to pay it back by and if it'll be one large sump or a couple smaller payments. Having lent money to a friend who did pay me back eventually, but didn't tell me how long it was going to take, or give me any updates on it, it added strain to our relationship.
This post was supposed to have implied that if you have the money, be upfront about repaying them instead of beating around the bush. I forgot how technical the reddit community is.
submitted by dale-x to LifeProTips
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from reddit: the front page of the internet http://www.reddit.com/r/LifeProTips/comments/32cgr9/lpt_if_you_owe_someone_money_be_proactive_and_go/
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