More often you will discover that there are those relatives who will always come to you needing help when they have financial problems. If you are in a position to help, you will have to ask them for the time that they will have to repay you before giving them the cash. 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.
First, you have to offer them a reminder that is causal this can be done through an email or even a quick text. 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. The main thing is for you to let them know that you really need them to pay you back since you have other important things to spend it on.
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. 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. Some of the relatives will fail to repay you on time due to lack of discipline. The most exceptional step to take to a relative who doesn’t budget for loan repayment is to ask for loan security. Ensure that the collateral is a valuable item that they won’t bear to be without it. The condition for returning that property ought to be getting repaid, and this will make your relative work harder to pay you.
Giving them a different person to lend from and dodging them is another way. 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. In such a case, you will have to avoid offering personal loans but rather do it professionally. By suggesting for them other people to loan from, they will have to pay as the loaners will be on their neck when repayment time comes.
Last, you will need to dialogue instead of confronting them. There is a higher opportunity for losing all you will have lent if you fail to talk about it. 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.