Request Payment of a Personal Loan • Letter Templates and Guide

Guide

1Indicate, in a very friendly manner, that you think that it is time that the friend repaid your loan.
2Encourage your friend to either pay back the money now or to contact you to make other arrangements.
3If you deem it necessary, offer a payment schedule that will work for both you and your friend.

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.

Example Letter #1

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Jane and I are finally going on our dream trip to Alaska, and we would like to settle outstanding financial affairs before we leave in August. We hope you are in financial condition to repay us the $750 we loaned you last year. If you are unable to pay it all at once, we would consider regular installments. I will call you next week.

Example Letter #2

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I hope you and Eric are enjoying the boat you purchased last summer. It was a wonderful family investment. As you know, John and I are hoping to expand our family room. We could use the $5000 you borrowed for the boat if you are in a position to reimburse us. If you are unable to pay the lump sum, we could agree to a payment schedule that will cover our payments for the family room addition. Perhaps we can talk about payment arrangements over dinner on Friday.

Example Letter #3

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A year ago when you were in financial trouble, I loaned you $5,000. I'm pleased that you appear to have landed on your feet. I feel it is necessary at this time to work out repayment arrangements. If you could repay the entire amount, I would be most grateful. Let me know what you can do.

Example Letter #4

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As I was going over our financial records I came across a note for the $500 we loaned you in June when you were out of work. We were happy to help you when you needed it; now we would like to settle the matter. We value your friendship too much to let money strain our relationship. Please give me a call at your convenience and let me know how you would like to work this out.

Write Your Letter Step-by-Step

1

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

Example Sentences

Example Phrases

2

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

Example Sentences

Example Phrases

3

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

Example Sentences

Example Phrases