Tuesday, January 15, 2008

How to get a loan back from relatives and friends


We've all been there, you've lent your brother in law money and now you never see him, or you helped your sister out of a bind and now you're having difficulty getting the dinero out of her purse, and yet she has money for a new hat, well here are some handy dandy tips to save the day.


Difficulty: Moderately Challenging

Things You'll Need

  • courage
  • honesty
  • love
  • a big friend



Step One

Approach the relative gently. Ask them to pay you back the money they owe you.

Step Two

If you don't get it yet. Ask them when you can receive the money. If they can't give you a date, ask them when they can start paying you whatever amount they can.

Step Three

If you still don't get an answer...and if they can't pay you, or don't want to pay you or are giving you a hard time, ask your parent's or their spouse for help.

Step Four

If all else fails..do what I do, ask them if they can help you with some project in the house or in the office..at least in this way they can pay you back without actually having to give you any cash, and you can always reduce the hourly rate so that you actually make out. In fact, as a rule I never lend money to friends or relatives anymore, because then I never see them, I simply employ them to do a job. For example, I had my brother in law do some electrical work for me (he's an electirician) and he also built me a beautiful wood book shelf.

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