Things to Do When Your Relative Won’t Pay
More often you will discover that there are those relatives who will always come to you needing help when they have financial problems. The first thing that you will be needed to do before you sort them out is to inquire on the time that they will return that money. Click here and learn more about the things that you will require to do in a case where your relative is not willing to repay you.
It will be necessary for you to make use of a casual reminder to alert these relatives that you need back what you lend them some time back and they promised to return. As you write this reminder to them it will be very proper for you to ensure that you are using a light mood when addressing them. More about the procedure of asking for your resources that you gave the relatives is to make them understand how importantly and urgently you need to use the money.
Second, you can decide to visit these relatives who owe you in person, and this will be mainly after you have realized that they are not responding to your texts and emails. With a face to face talk, you will get a chance of knowing the exact take of the relative concerning the debt payment.
Ask for loan security and therefore make it necessary for them to pay their credits. Indiscipline is one of the attributed for relative loan payment defaulting. For those relatives who don’t give credit servicing a priority, collaterals have proved to be better. This collateral will have to be something which they won’t have it easy to be without. The condition for returning that property ought to be getting repaid, and this will make your relative work harder to pay you.
The fourth way is to avoid lending to them by offering an alternative. Once you loan a relative, the possibility of getting your money back is insignificant. One of the reasons is the challenge to ask the relative pay you. You will need to offer such loans on official grounds rather than on personal grounds as a way to curb these cases. During the repayment period, the lenders will follow them up; hence they will repay if loaned by non-relatives.
Last, you will need to dialogue instead of confronting them. In case you go silent over this matter, you will have increased the chance for losing your money. Confronting them will make them feel worse and this could have a future consequence to your relations. For this reason, you will need to weigh your options as some of the relations may be very valuable.
Another Source: Getting To The Point –