How to Collect money Owed

A debt is something that has to be paid back.

Many people do not take personal responsibility for their actions. If a person owes you money, they should pay it back. My first hand information can give you step by step instructions to collect money that someone owes you.

Instructions

1. 

   At first, if you can approach the person face to face, ask for them to please repay the money they owe you. Remind them of the circumstances that the money was borrowed and approximately the date if known. Wait for the answer. If there is a rude or inappropriate attitude exhibited, do not confront that person further. In parting, let them know you will be collecting your funds that are their responsibility to pay you. Leave the area as soon as that is stated. Most people who know they owe someone money might do you bodily harm for a few bucks. Don't give them the chance to assault you in a physical or verbal way.

2. 

   Send a certified letter stating the amount, the date the funds were borrowed and any other facts of the money dealings with this person. Ask for the method of payment you desire and when you expect that to be paid. Do not put feelings in the letter, only facts. Make it brief and specific and very business like. There are letter writing tips online to guide you through that process of communicating with this person. The certified letter will have a result in 15 days or less. If you wish, in about 5 to 7 business days, You will be able to check online as to the date the certified letter reached your person. The United States Post Office site will accept your certified number and inform you of the delivery of your correspondence. If there is no data there, in 15 days you letter will be returned as undelivered. Certified letter range from about $3.

3. If the person complies with your request of funds they owe you, all is complete. If they received the certified letter and have not complied with your request, you can do this next step. If the person did not receive your letter and it is now back in your possession, you will need to find the correct address before proceeding with my next step.

4. 

   Contact a local lawyer and ask what the fee for a dictated letter on legal stationery would be. Have the letter composed with suggestions from the secretary, unless you feel confident to state facts in different terms. You do not want your same words used as in the previously sent certified letter. This letter should be mailed in a legal size envelope from the lawyer where you are getting the letter from also. Make one copy of this letter for your records and one to send again by certified mail if needed. The cost for a legal, composed letter might be $50 to $100 according to the legal fees scale at the attorney's office.

5. Wait for the time frame that you offered for the funds to arrive by mail to you. If they do not arrive, send a copy, of the copy of the dictated letter by certified mail to the person who owes you money. Follow the procedure above to determine if the letter was received. If the this second certified letter arrives and your funds do not show up as stated in the second certified letter, follow this next step. If this second certified letter comes back, you will need to now find out where the person is before proceeding with my next directive.

6. If the person does not come forth with the funds they owe you, go to the court house and file a small claims document against that individual that owes you money. The attendant there can tell you if you can recoup your certified and legal fees or not. Bring all information needed to prove any of your accusations against the person that owes you money. Those might be needed for dates and amount.