Q: I would like to know the best way to ask a relative to pay back a large amount of money that was loaned to them over 8 years ago. My In-laws seem to have forgotten although it has been mentioned about 6 times since. How can this be handled tactfully. I would appreciate any advise you could offer. Thank you. Stacy ‘
A: You need to have a direct conversation where you say that you need him or her to let you know what kind of payment schedule he/she is setting up to repay the loan. This should be face to face, if possible. If not, then by telephone where he/she must give a direct response. Eight years puts it beyond the tactful level and you really do need an answer. Don’t just mention it or leave it hanging – get a real answer.