Isn’t it funny how easy it is to loan other people money; yet we’re clueless on how to persuade someone to give you money back? But I guess if you’re the one who has had to shell out the cash, this isn’t so funny at all.
Unfortunately, this sort of situation happens to people all the time. If you don’t want to end up losing the money forever, you’re going to have to learn how to persuade someone to give you money.
But how are you going to do that? Is there some sort of ethical procedure? Nobody ever told you that extracting the money would be so hard. Luckily, this article will teach you what you need to know about how to persuade someone to give you your money back.
1) Ask for it.
Have you ever tried asking for the money back? I know you might feel a little awkward doing it, especially if you loaned the money to a friend or a relative, but it must be done. Make sure you include a good reason for wanting it now.
And if we’re talking about friends and relatives, you shouldn’t even have to ask for the money back. They should have returned the cash they owed you at once. Unfortunately, that is not always the case.
Be assertive. Sometimes, they have to be reminded that what you gave them was a loan and not an early Christmas present.
2) Give the person a job.
Sometimes, a person can’t pay you back because they don’t have any way of earning money. One way on how to persuade someone to give you your money back is by helping them generate the money for it.
Need help around the house? Perhaps that person can pay you back in service. Or hook that person up with a job somewhere. This might not be the most convenient way to get your money back but sometimes, it is the only way.
3) Use the law of expectation.
Tell them how you appreciate them for always keeping their word; and then a few moments afterwards, ask for the money. They would do what they can to fulfill your expectation of them.
4) Seek legal help.
Perhaps the last option on how to persuade someone to give you your money back is to ask for legal assistance. This should alert the person who owes you money to take you more seriously.
The whole ordeal will be to your advantage if you have some sort of written agreement that that person owes you money. Take the whole thing to court if you have to.
Of course, doing this also has consequences. You might find your relationship with that person constrained once the whole thing blows over.
Learning how to persuade someone to give you money is often a trying experience. Consider it a lesson learned and next time, you’ll know who you shouldn’t lend money to.