7 Handy Tips to Recover Your Money from Someone
Recovering money from people is a tough task, especially if you feel awkward asking for it while the other person doesn’t feel awkward at all. It becomes a difficult task if the other person keeps ignoring.
Some of the tips that can help you recover the money are:
1. Leave a Message or Mail Every Week
The most important way of getting the money back is by reminding the person that they owe you some money. To keep reminding that will mean that you’re serious about the recollection of the money and aren’t likely to leave the debt owed by the person.
2. Send Invoice if it is Freelancing
Keep sending the invoice if it is regarding some work you’d done. Sending a professional invoice regularly up to a certain point will help in recollection. If for a long time, you don’t get a reply, send a mail titled final invoice with a message that speaks of legal action in terms of no repayment.
3. Try to Joke about it
If it is with someone known- especially relatives, it is one of the most difficult jobs in the world. Joking about it in presence of another group of relatives may help, especially if it makes them feel bad. It is one of the quickest ways of getting back what they owe you.
4. Letting them Pay
With friends, it is even more difficult. Especially if you know the friend to be a miser and with no plan of giving back the money. Try to invite them for a dinner or something, and then order just enough to recover what they owe you. Then talk about the debt casually, and talk about forgetting your wallet if it doesn’t pay off.
5. Invite a Middleman
Especially useful is to invite a middleman, also if the amount owed is big. With a middleman, you can simply strike a deal of recovering a percent of the loan instead of full. This is useful for big loans or the loans that you have no hope of actually recovering. You could also offer to pay the middleman a small percentage and this could lure him into getting the money back for you. This will avoid your legal costs in case you go for the other obvious option, while also saving the hassles.
6. Go Legal
If you have all the proofs and invoices, it is best to go legal when all the other options fail. Going legal will also help you get it cleared earlier because nobody wishes to get their name dragged to the court, and a notice might get you an out-of-court settlement far quickly.
7. Get Professional Help
There are several agencies that can help recover money for a charge. Taking their help may be the best option if all others fail. It is a great option when the amount owed is big, and you can present facts of the case in front of the agency. However choosing the agency carefully is an important step in the process.