Does anyone have advice on collecting on a loan from a family member?

About 2 months ago I lent my Dad $400 so he could pay some bills. I didn%26#039;t have a problem lending him the money; I could afford it and we have a great relationship. He said that he would repay me by putting $25 in my bank account each week. He hasn%26#039;t said a thing about it since I gave him the loan. $400 is a lot of money and I%26#039;d like to talk to him about getting at least some of it back. Any advice on bringing it up with him? Thanks.

Does anyone have advice on collecting on a loan from a family member?loan

Just say, %26quot;Dad, do you remember that you owe me $400? When can I expect repayment?%26quot;

Does anyone have advice on collecting on a loan from a family member? loan

I have the same problem. Maybe you can help me out.|||nope, consider it a gift, period. He knows he owes you the money, he knows he has not honored his committment. So let it go. It is not worth the fight over a lousy 400.00. BUT, if he is like this, you can bet that he will ask again... that is the time to say, %26quot;Sorry Dad, I cannot afford to loan you any money.%26quot; And leave it at that. Good luck|||I have an idea,write it off as a gift,how much did he charge you for raising you?|||Tell him either to come up with the dough or you%26#039;ll break his legs.|||So he didn%26#039;t start paying you back yet? Ask him how he is doing financially now, if you have a good relationship he should not get upset. Just a simple %26quot; Hey Dad, How are you doing now? Financially%26quot; If he remembers the loan he should bring it up.|||since you have a good relationship with your dad, just ask him - maybe you could try in a jokey type of way or something and then seriously ask him about the money but tell him that there is no rush..??|||Sorry, I would never loan money to my family. I have had money stolen and given it as a gift. I paid for my parent%26#039;s divorce. My Dad was pissed, etc. I never saw a dime from my mother. (She originally asked for a %26quot;loan%26quot;). #1 My father would NEVER ask me for money. #2 My mother would only ask for money she didn%26#039;t have to repay. # 3 My brother would take any money laying around and steal anything else. Those were/are my family rules.|||Kevin, You might ask dad if he%26#039;s doing OK, if he has ran into bad luck and had to barrow money to pay his bills then he might still be trying to get his head above water, give him some time and room to breath, besides its better to right off the $400 then loose the great relationship you have with your father by pressing the issue. Good Luck|||Never LEND money to family. The reason why I say that is because when you don%26#039;t get it back it causes too much conflict . Always GIVE to family not expecting it back. If you can%26#039;t do that, then don%26#039;t do it.|||you can tell him that you need the money you once lend to him.. explain to him that you%26#039;re low in budget and would like to use it now to spend in stuff that you need.|||It%26#039;s amazing that I%26#039;m not the only person in the world who would be generous enough to be in this situation...Unlike yourself, I already set the expectation (within myself) that I would not be getting anything back from lending money to a family member...If I would have received a dime, I would have been in a state of amazement...As for an approach, my 2 cents would be to bring it up in a casual conversation, surrounding financial distress (although your not, he may be in that situation)...It also depends on the stability and confidence that you share in your %26quot;relationship%26quot; with each other...There are too many factors that would create if/then theories as to the reults...I wish I could be of more help :-) GOOD LUCK!!!|||Let%26#039;s put it this way. Is your father of sound mind?? if so, he is well aware of the money he owes you. I assure you, people do not forget when they borrow money! Sounds like one of two things: 1. He cannot pay you back right now, or 2. he cannot pay you back, period.

You may want to forget about it. ..maybe think twice if it happens again...unless you can afford it and not expect it back....