Money Owed

[Jazzy]

My friend was in a tight spot and needed $450 to prevent her electricity from being shut off. I told her I'd lend her the $450 and sent her the money, but then I didn't hear anything back. Despite this, our friendship remained intact, even though I received no indications of getting paid back or any acknowledgement of the debt. Quite some time passed, and her financial situation eventually improved and stabilized. Then, she casually mentioned that she had taken a trip, leaving me surprised as I couldn't afford one and she still owed me the $450 I sent her.

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What is a polite way to remind someone that they owe you money?

 

[Lamb]

Ask her to start making payments of $20 a week until the debt is paid.

I've had a couple of friends as well who said they were completely broke and then surprised me by going out and spending money on things they couldn't afford. I don't know why people can't prioritize their spending.

 

[Castle Church]

That's tough. I loaned $850 to a associate once so he could get a car to come to work....I even had a contract and payment plan in place ahead since he was not really a "friend"....I never saw a dime as he left the company shortly after.

You could always say something like, "hey, do you remember when I loaned you $450? I could really use it with the holidays, would it be possible to repay me?" Even if they can't/won't right then they will at least know you remembered it.

 

[tango]

Ask her to start making payments of $20 a week until the debt is paid.

I've had a couple of friends as well who said they were completely broke and then surprised me by going out and spending money on things they couldn't afford. I don't know why people can't prioritize their spending.

It's remarkable what people can find the money to fund. Usually they fund the things that they want and drop the less interesting things down the priority list.

Personally I'd be very cautious about lending money to a friend unless it really was to get them out of a short-term scrape. If the fundamental problem was that their budget was broken then lending them money this month doesn't really help, as they'll still have a broken budget going forward. In a situation like that it seems like it's more useful to help them figure out a budget than to prop up something that's unworkable. The trouble with lending money to a friend, other than as a low value short term thing, is that you potentially lose both the money and the friendship.

 

[Josiah]

I never loan money to anyone for any reason. IF the situation is worthy, I'd consider giving them the money required - but make it clear I expect no repayment but it would be good if they "pay it forward" someday.

I can't say this happens often. Three times come to immediate mind.



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[Castle Church]

I never loan money to anyone for any reason. IF the situation is worthy, I'd consider giving them the money required - but make it clear I expect no repayment but it would be good if they "pay it forward" someday.

I can't say this happens often. Three times come to immediate mind.



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That's probably the best way to go about it. I have always heard to never lend money to a friend or family with the expectation to receive it back. If they do, then great, if not then there is still no issue between the friend or family and you.

 

[Messy3]

Antisocial. If my ex needs money I share but anyone else move it. Go bother the rich.

 

[Messy3]

My friend was in a tight spot and needed $450 to prevent her electricity from being shut off. I told her I'd lend her the $450 and sent her the money, but then I didn't hear anything back. Despite this, our friendship remained intact, even though I received no indications of getting paid back or any acknowledgement of the debt. Quite some time passed, and her financial situation eventually improved and stabilized. Then, she casually mentioned that she had taken a trip, leaving me surprised as I couldn't afford one and she still owed me the $450 I sent her.

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What is a polite way to remind someone that they owe you money?

I had that when I was a teen. Had a friend and my brother and sister were way older, so they didn't join anymore when we went on a holiday, so I could take her. It was about small amounts. All the time she would ask me can I borrow 5 or something to buy cola or whatever and she had money with her. No problem but she didn't give anything back and I was too shy to ask, so I thought: lets borrow money from her. And then she got mad that I didn't pay it back. No I don't because you still haven't paid me back. Oh I should have just told her that, she said. So I would just remind her that she borrowed money from you and ask if she forgot or when she's gonna pay it back and say that you need it.

 

[Jason_76]

I've been irresponsible and the reason is cause I'm under too much pressure because my loved one is totally broke and destroyed. But the problem is I'm only somewhat better than she is. Anyway, robbing peter to pay Paul is wrong.