Do friends or family owe you money? - FOX 10 News | myfoxphoenix.com

Do friends or family owe you money?

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Many of us have loaned money to family and friends. If the world were perfect, that money would be repaid. Well, the world is not perfect and the money is often not repaid.

So, if a family member or friend owes you money, how do you get it back?

A report on Finance.yahoo.com offers a few suggestions. If you are owed money for a lunch or dinner, you can politely suggest that at the next lunch or dinner, they take care of the bill. If they are out of cash, you can ask for a credit or debit card, and use a payment app for your smartphone to get what is owed to you.

Another option is to use PayPal.

Why do they forget to repay you? The reports says a study finds most do actually forget they borrowed the money, and some see the loan as a gift that doesn't have to be paid back.

HOT TOPIC QUESTION: What is your policy on loaning money to friends? Post your comments on our FOX 5 Atlanta Facebook page, or tweet us @GoodDayAtlanta.

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