Yes...I did this in SE Asia. My wife was Chinese and her family had been doing it for generations. Failure rate after all these years? Zero; no one had ever lost money doing this. You have to do it with people you trust, but if you do, it works. It's a great way to get money for a business investment and not involve a bank, while at the same time reinforcing relationships. No one in the family would ever DREAM about being late with the money. Wow. Sounds like you were out of there already. Could the relationship have lasted if you'd given the guy time for his turn to come around? Replying to every text with a blunt 'pay me my money'...well, you got the money, you probably would have gotten the other 200. Probably still could if you asked and he'd feel better for it. How do you feel about it now?