Tutorial for “Request Payment of a Personal Loan”

Tips

Because the person who borrowed the money from you is most likely a friend, this letter should communicate very little pressure. Don't hesitate to make the message as personal and warm as possible.

Steps

1. Indicate, in a very friendly manner, that you think that it is time that the friend repaid your loan.

Sentences

  • I look forward to buying my first home very soon and have been working furiously to get the money together for the down payment. I hope now you are in a position to repay the $1,000.00 I lent you last year.
  • When you asked me for a loan about six months ago, I was happy to help you out. Now that I am also facing some financial difficulties, I hope you are willing to begin repaying me.
  • I hope that enough time has passed for you to overcome the financial disaster you faced last year, as I need you to repay the $600.00 you borrowed.
  • I was glad to help you out with a $300.00 loan when you needed it because I value our friendship. I hope you won't mind repaying me now that you are back on your feet.
  • Money matters between friends can be uncomfortable, but because of the depth of our relationship, I'm sure that you will not feel offended if I ask you to repay the $140.00 you borrowed a few months ago.
  • Here are copies of the gas and electric bills you promised to split with me last month.

Phrases

  • although we set no definite terms to the loan
  • although we set no time limits
  • are you still in financial straits
  • as long as I can remember
  • because of the depth of our friendship
  • could really use your help in return
  • could use the same favor now
  • hope you have had enough time to recover
  • hope that enough time has passed for
  • gladly helped you in your time of need
  • gratifying for me to help my friend
  • have been friends for a long time
  • have known you as long as I can remember
  • heard that you're doing well
  • hope you are able to begin repaying me
  • hope you won't mind repaying me
  • hoping that you are in a position
  • hoping everything is alright now
  • if you need future assistance
  • if you're in the position
  • it seems I'm in the same dilemma
  • it's been awhile now
  • money matters between friends can be uncomfortable
  • more than any amount of money
  • now that I'm facing some financial difficulties
  • really value our friendship
  • received the receipt for the bill I paid
  • sure you will not feel offended
  • thought I would have the money to
  • was happy to help out
  • was wondering when
  • was grateful I was in a position to help
  • was more than happy to help out
  • when you needed cash
  • when you asked me for a loan
  • when you approached me needing assistance
  • would not like anything to come between us
  • would like you to return the $700.00 you borrowed
  • would appreciate repayment

2. Encourage your friend to either pay back the money now or to contact you to make other arrangements.

Sentences

  • I hope you can send the money soon.
  • The electric bill is due at the end of the month, so please send your share by June 25.
  • We really need that money now, so I'm counting on you to send a check as soon as possible. Please let me know what you can do.
  • I look forward to getting your call.
  • Drop me a line and tell me what you think would be the best payment plan.
  • If you don't agree with this strategy, or if you can think of a better alternative, give me a call. I'd like to hear from you anyway.
  • Can you send the first $100.00 by the end of the month?
  • I hope you can send the first $50.00 sometime next week.

Phrases

  • as soon as you possibly can
  • by my calculations
  • by the end of the month
  • can you send the first payment by
  • confident that I can count on you
  • could really use that money now
  • counting on you to send
  • drop me a line
  • electric bill is due at the end of the month
  • facing my own obligations at the end of this month
  • has been awhile since I heard from you
  • heard that you're doing well
  • hope you will send the money soon
  • hope you could send a check along with your letter
  • hope you can send
  • if you have a better suggestion
  • if this isn't satisfactory
  • if you can think of a better alternative
  • if the full amount is no possible
  • if this is acceptable to you
  • if this seems fair to you
  • let me know what is happening
  • let me know what you're able to do
  • like to get this worked out
  • like to hear from you anyway
  • look forward to getting your call
  • tell me what you think would be the best approach

3. If you deem it necessary, offer a payment schedule that will work for both you and your friend.

Sentences

  • I understand that $600.00 may be more than you can afford at one time, so if you want to pay me back $100 per month, that will be fine.
  • I hope you can afford $50.00 per month to pay off the loan.
  • If you'd rather not pay the entire sum at once, $200.00 per month will help me meet my new obligations.
  • You can take as much time as you need to pay me back, but I really think we should develop a payment plan so we both know what to expect.
  • I value our friendship so I don't want to overwhelm you with my request for the money you borrowed. On the other hand, I need the money to buy a dependable car. I will welcome your suggestions about how we can solve this problem.
  • If paying $200.00 a month creates a problem, we can make another arrangement.

Phrases

  • a minimum amount each month
  • are usually so prompt
  • better if you come up with a plan
  • can make another arrangement
  • can take as much time as you need
  • could we agree that
  • don't want to impose any hardship
  • don't want to overwhelm you
  • drop me a line
  • help me devise a payment plan
  • if you would rather not pay the entire sum at one
  • if paying that much in one month presents a problem
  • if you can suggest an alternate payment plan
  • just a little each month
  • know you have other commitments
  • know we can overcome this challenge
  • know you can't repay me in one large chunk
  • more than any amount of money
  • nothing two friends can't work out
  • perhaps you should suggest some sort of payment plan
  • please let me know soon
  • realize monthly payments might make it easier
  • realize it might be difficult to come up with
  • really think we should develop a payment plan
  • so we both know what to expect
  • so there is not misunderstanding
  • some sort of schedule
  • tell me what you think would be the best payment plan
  • that will be fine
  • time you need to pay me back
  • will help me with my new obligations
  • work this out together
  • do not want anything to come between us
  • would be grateful for a partial payment

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