How to deal with people who are not returning your money or things

It is very tricky and sensitive to deal with people who never return the money borrowed or items that have been lent.

And yet, whether it is a friend, family member, or colleague, dealing with such matters often requires careful considerations between being assertive and empathetic towards maintaining those relationships while trying to get back what rightfully belongs to you.

However, unmet expectations can become frustrating leading to tension in communication and possible conflicts; therefore, it is crucial to approach such cases with a clear strategy.

The initial steps can involve open and honest communication, by reminding the borrower of their commitment in a polite and firm manner.

It’s important to understand the reasons behind their delay and assess their situation before escalating the matter.

Patience and understanding can make way for a positive solution without making things worse.

Even if the the person does not agree to return what is yours then, here are certain ways to deal with with such people and get back your belongings politely

Begin with direct and proper communication with the person who owes you money or items. Calmly speak to them in person or on the phone or even in a message reminding the individual about the loan. Many times, the people forget, so reminders can be all that is required. State clearly the amount of money that was borrowed or which item was borrowed and when it was lent, and indicate your expectation of when to receive it back. Be diplomatic in your presentation so as not to stir up unnecessary tension or conflict; otherwise, it will give the other person a chance to listen to you and show some willingness to resolve the problem amicably.

If the borrower does not remind you and ask for a repayment date, then you can provide them with a specific date to return your money or item. Politely let the borrower know why you need it back on a specific date. Giving them a specific date will give the borrower a target to work towards, which will assist in making priorities about repaying them or returning your belongings to them. Be firm but understanding and acknowledge any potential difficulties they might face. A deadline can highlight a time-bound urgency and gravity about the issue, creating an urge within the person to settle the obligations promptly.

If the borrower can’t manage to pay the full amount at once, you can propose a payment schedule. On the dotted line, divide the whole amount into small repayment chunks over a term that you choose and agree on together. It is a sign of willingness to be flexible, but the expectation of those payments is clearly set. By giving you a structured plan, it makes the chances of recovering money very probable in an orderly fashion.

For large sums of money or valuable assets, you should consider making it in writing. Make a very basic contract detailing the loan, the sum, the terms of the payback, and any penalties that shall be received should he miss the deadlines. Both of you should sign the contract to affirm your agreement. Having a piece of paper is a better reminder and will also encourage the borrower to be more responsible. It provides legal protection if it is required to take further action. This step of procedure is formal, which means that the obligation is serious and repayment very crucial.

If direct communication and deadlines fail to yield results, consider involving a neutral third party to mediate the situation. A mediator could be a mutual friend, family member, or professional who can facilitate a fair discussion between both parties. Mediation helps to address any underlying issues, misunderstandings, or hesitations the borrower might have. The mediator’s objective perspective can encourage a resolution and reinforce the importance of fulfilling obligations. This step aims to resolve the matter amicably without escalating to legal action, preserving the relationship while ensuring repayment.