I loaned $1000 to my sister-how should I ask her to start paying me back?

Question

I loaned her this money for a car. She knows it was a loan. It's been 2 months since I loaned it to her and I haven't seen 1 penny. I really need something because I just had a baby and that is what the money was originally for. How should I break the ice and ask her to start up a payment plan?

Answer 1

Loaning a family member money was the first mistake. I'd go ahead and consider that money gone. If you get any money, it would be amazing.

You'll know better next time.

Answer 2

Wow...how wild is this: I just did the same basic thing. Granted, it wasn't for a car, but I loaned my sis a good amount of money and had to confront her yesterday about it. She's a great girl, but I knew if I didn't take the initiative, she would wait until she won the lottery to repay me.

I called her about a couple different things, and brought up the money at the end. I was just quick and frank with it. "Hey, I need you to start paying me back some of that money, as soon as you can. Things are kinda tough for me around here, and whatever you can do would really help me out a LOT". I didn't have to say anything that would even be remotely threatening, as she's family and I know she'll pay it however she can. She mailed me a check today, she said, for a bit of the money. I told her no hurry...just get to me what you can, and let me know when if there is ever a month when you won't be able to get me anything so I know how to plan.

Mutual respect is the key to dealing with family money situations, I've learned. If your sister is even a little bit human, she'll know that your situation is a little tough and she should do whatever she can to pay you back.

Answer 3

What was your aggrement for repayment? Did you set something up to begin with. Rule one is you should never loan money to family unless you have a contract or collateral. My family is different If money is loaned it is never brought up but the other party always pays. Does yoru sister have a habit of not repaying her debts?? She needs to learn responsibility So I would call her and say Hey sis I was wondering how your cars was running? She will answer ASk her how work is and then say I need to know whne you are going to start repayment of that loan. Explain that you need the money too. Set something up that is reasonable like 100 a month If you dont ever see a dime of it you have learned a hard lesson. Always get something in writing.

Answer 4

Tell her, "Hey I really could use some of that money I loaned you back. I need it for the baby. When do you think you could start paying me back?" That way you clearly used the word 'loan' up front as a reminder, and you let her know this is her opportunity to help you out like you helped her. If she doesn't repay you, you are stuck with a harsh decision to make. Obviously you cannot trust her as she is a thief. I would treat her exactly like I would treat a thief until she proved she wasn't one. If she says, "Oh come on, you aren't going to let money come between us are you?" or something similar that tries to blame you for the consequences of her actions, I would explain to her that what she did is steal money from you, and thus she is the one putting money between you and her. Good luck.

Answer 5

Hey sis it's been two months and now that (baby's name) is here I need you to start paying off that car loan.. I don't expect it all at once but here's what I would like each check and then work off that number so give her your highest amount you would want each time she get's paid and then don't go any lower. Even tho she;ll look at you stupid cause u are sisters have it all in writing and if she doesn't pay it off you'll have to charge her 10& interest (smiling) j.k. I mean but seriously it's been two months has she even said I know I need to start paying you back are you sure she knows it was just a loan.......Good Luck in collecting your funds and Congrats on the New Baby!!

Answer 6

Well you really should have made clear the terms of this loans, and had her pay a promissary note regardless if she's family or not. I make boyfriend sign one all the time. But, let her know that you are ina bind and you need her to start repaying her loan back. And make sure you have a specific amount and a consistent date to payback every month too.

Answer 7

Don't expect to see the money back. That is just the way it is with family loans. I say just call her and say that you need the money when can she pay you. It is that easy. If she says she can't pay then talk about a payment plan.

Answer 8

Invite her over for lunch or coffee or something and tell her you want to set up a payment plan with her that you know won't put too much of a financial strain on her. This way you are setting a plan and to her, she hears that you don't want it to be difficult for her. Just be considerate and polite and loving about it and it'll be fine. Maybe pray that God will give you the right words to say to her. Good luck! Hope I helped.

Answer 9

It's typically bad business to loan money to family members. I've loaned about $2,000 to my step-sister and know that I will never see that money again.

You just need to ask her about it. See if she can at least start making payments to you if she can't pay it all off at once.

Answer 10

Actually, you should have set this up ahead of time, but apparently you did not. Do not ask her to set up a payment plan, have one all ready for her - and get her to sign a promissory note to you. I think you now know that lending money is not a great idea...