Some of the Things That You Must Do If 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. Read this page to know some of the things that you can do once you discover more that they are not willing to refund you the money.
The casual reminders can save you in a situation where you want to politely let your relative know that it is time for them to make payments for what they asked from you. It will be very courteous for you to make use of a very light and polite words when addressing these relatives through a casual reminder. Ensure that you are painting the picture of how urgent you have to use the money to the relatives buy politely.
If you are writing to these relatives concerning your payments and they are resistant to give you can reach out to them so that you can find more info. as to why they are behaving so. When you reach out to them you will stand a chance of understanding what they are planning to do so that they can pay you.
Ask for loan security and therefore make it necessary for them to pay their credits. Failure to repay the loans by the relatives can be due to indiscipline among other reasons. It is very necessary that the borrower to prioritize paying a debt otherwise a collateral will work out best. Ensure that the collateral is a valuable item that they won’t bear to be without it. They will put more effort to pay you for the collateral as they will not get the property back payment failure.
Fourth, you can suggest for them an alternative loan lender. Here, their is a very small chance opportunity for one who lends a relative to get repaid. This circumstance can build up due to the limited chance to face a relative for loan repayment quest. 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. There is a higher chance that you will lose your money if you fail to raise such a concern. Using a friendly approach will enable you to maintain the smooth relation you have with them that you may find to be significant in the future. You may not stand to ruin some relations hence you will have to make calculated moves.
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