So your sister borrowed some money from you and she’s been M.I.A. for weeks. You’ve texted her, called her, and even showed up to her house unannounced (twice!) but she’s still giving you the runaround.
It’s time to take matters into your own hands and get your money back—and this time, make sure she pays you back in full and on time.
Here are 9 foolproof ways to get your sister to repay her debt.
|9 Ways to Get Your Sister to Pay You Back|
|1. Give Her an Ultimatum|
|2. Stop Being So Nice About It|
|3. Put it in Writing|
|4. Threaten to Cut Off Access to Your Shared Resources|
|5. Get Creative with Payment Options|
|6. Give Her a Deadline…and Stick to It!|
|7. Take Away Something Important Until She Pays Up|
|8. Hire a Collections Agency|
|9. Talk to Your Parents About It|
1. Give Her an Ultimatum.
Tell her that unless she pays you back by a certain date, you’re going to start charging her interest. And not the nice 0% APR kind—we’re talking 20% or more.
She’ll be motivated to pay you back quickly if she knows she’s accruing interest on what she owes you.
2. Stop Being So Nice About It.
The more passive you are about getting your money back, the longer it’s going to take. Be firm with her and let her know that you expect to be repaid ASAP.
In other words, no more Mr. Nice Guy!
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3. Put it in Writing.
Send her a formal letter (or even just an email) outlining how much she owes you and when you expect to be repaid.
This will add a level of seriousness to the situation and increase the chances that she’ll actually follow through and pay you back.
4. Threaten to Cut Off Access to Your Shared Resources.
If you live together or have joint accounts, tell her that unless she repays what she owes you, she’ll no longer have access to things like the family car or your Netflix account. I have a funny feeling she’ll be motivated to pay up quickly if it means regaining access to those things!
5. Get Creative with Payment Options.
If she can’t afford to pay you back all at once, offer to let her make smaller payments over time—weekly or monthly instalments, for example. This will help ease the financial burden on her while still allowing you to get your money back eventually.
6. Give Her a Deadline…and Stick to It!
Whether it’s a week from now or a month from now, set a date by which she needs to repay what she owes you—and don’t budge on it! If she doesn’t meet the deadline, take whatever actions you threatened in step 4 (cutting off access to shared resources, etc.).
7. Take Away Something Important Until She Pays Up.
If there’s something of hers that she values—her laptop, car keys, etc.—tell her she can have it back once she pays what she owes you in full. This will incentive her to pay up quickly so she can get whatever things you took from her that she wants back!
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8.Hire a Collections Agency
If all else fails, hire a collections agency to track down your sister and get your money back from her directly! This should only be done as a last resort, but it’s often effective in getting people to finally repay their debts.
9. Talk to Your Parents About It
And last but not least, if you’re really struggling to get your sister to pay you back, talk to your parents about it. They may be able to help mediate the situation and come up with a solution that works for everyone involved.
The best way to go about talking with your parents about this is to first sit down with your sister and talk about the situation. try to agree with the two of you before involving anyone else. This way, your parents can simply act as mediators rather than taking sides. If you’re not able to come to an agreement, though, don’t hesitate to involve your parents—they may be able to help you reach a resolution that everyone can be happy with.
If your sister owes you money and you’re struggling to get her to repay it, following these steps should help.
Be firm but fair, and don’t be afraid to let her know how you feel about the situation. In the end, you’ll get your money back—and maybe even strengthen your relationship with your sister in the process!