Dear Amy: My husband "George" lent our friend "Steve" $60,000. George died several months after the loan was made. Steve then ran into hard times.
He has repaid $30,000, with a commitment to repay the rest. It's been two years now. Steve is back on his feet and has been able to take several nice vacations, but there has been no mention of making a payment.
Any suggestions on how to nicely bring up the debt owed? I am on a fixed income and would appreciate the payment, and I also would like to keep the friendship.
Amy says: As it is, your friendship is compromised because you both are avoiding discussing the money he owes your husband's estate.
The way to bring this up is to be straightforward and honest, conveying your positive assumption that this loan will be repaid.
Make sure you have access to bank records, noting the original transaction and the half-repayment. You should send an email, in order to have a record of your written communication.
I suggest using wording along these lines: "Dear Steve, I hope you are well. I'm contacting you regarding the outstanding amount you owe on the loan George made to you. According to my records, you have repaid $30,000 of the total $60,000.
"After granting you extra time to repay, I am now eager to receive the remaining amount within a reasonable time frame. I value our friendship, just as George did; he was happy to help you when you were in need. Let's revive this conversation in order to get this matter settled."