Harriette Cole: Step up, speak up, pay up
Dear Harriette: I borrowed money from a friend, and I have every intention of repaying him in full, but I am late. I gave him a date by which I would pay up, and that date has passed. I don’t want to be a jerk. I want to honor this commitment. How can I let him know how sincere I am, even though I don’t have it all right now? — Ben, Salt Lake City, Utah
Dear Ben: Speak up. Too often when people owe money to others they hide rather than set the record straight about what’s going on. Don’t leave your friend wondering when or if he will ever be repaid. Contact him immediately. Explain your situation honestly and tell him you intend to pay him back in full. Ask if you can set up a revised payment plan.
Come with ideas written down for a realistic repayment deadline; bring along a check for partial payment. Don’t consider whatever amount you may have today is too small. It represents a good-faith offering that will definitely go over better than a promise and a smile. Show dates on a calendar that you will honor. Each time a payment is due, according to your schedule, make the payment or let him know when to expect it.