data-ad-format="horizontal">

Request Payment of a Personal Loan — Letter-Writing Tutorial

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

Related Articles

Related Resources

Still can't find the right words for your collection letter?

4,001 Business, Sales & Personal Letters

You will with our 500 letter-writing tutorials!

  1. Find the collection letter that fits your needs and copy it directly into Microsoft Word or your favorite word processor.
  2. Or let our 500 letter-writing tutorials guide you step-by-step through the writing process, suggesting sample phrases and sentences for each writing step. In minutes, you can write an effective collection letter.
  3. Print your collection letter and send it!

Try our letter-template software risk free when you buy at WriteExpress.com

If after 30 days you are not satisfied, return it for a full refund

Good

Easy
Letters

Easy Letters

$19.99 / Download


Better

3,001 Business & Sales Letters

3,001 Business & Sales Letters

$29.99 / Download


Best

1 $19.99 value free with purchase of our software for Windows (not Macintosh)

2 Free with purchase of our software for Windows (not Macintosh)