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. 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. Make it very polite and so, you must ensure that you are telling the relative more gently that they should try and make efforts for paying their debts. 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. With a face to face talk, you will get a chance of knowing the exact take of the relative concerning the debt payment.
Such that you give them a reason to pay you, you can use a collateral. Indiscipline is one of the attributed for relative loan payment defaulting. The most exceptional step to take to a relative who doesn’t budget for loan repayment is to ask for loan security. It should be unbearable for them in case you take away that property used as loan security by the loan lenders who are your relatives. This will keep the relatives on toes to repay you as not to lose their property.
The fourth way is to avoid lending to them by offering an alternative. 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. If they ask for other loans, refer them to those who will make follow-ups for their money.
you will need to talk to them instead of antagonizing with them. There is a higher opportunity for losing all you will have lent if you fail to talk about it. 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. For this reason, you will need to weigh your options as some of the relations may be very valuable.