Are you owed money? 24% of students won't ask for money back

Get owed money back

Skint? But have lent people money? According from research by Payfriendz, 97% of students admitted to lending money to friends and family at university, and 24% refuse to ask for money back, worried they will appear 'stingy' to their friends.

In fact, the average Brit is owed £330 from unpaid friends and family - think of all the mulled wine that could buy!

How do I get my money back?

Come on, not getting your money back because it's a bit awkward isn't a good enough excuse (but yeah, for British people, jumping in a shark tank seems like a more pleasurable option!).

First of all, give the person you lent money to a gentle reminder that it was actually a loan rather than a gift. Mention that you are pretty short of cash at the moment, and was wondering when you'd be able to pay back what they owe and you need it ASAP.

If weeks/months go by, meet up and be a lot firmer. Explain that you don't want to see them again until they have paid the money they owe you and give them a deadline.

If it all goes wrong and you decide that you want to taking it further, consider getting some free advice from the Citizens Advice Bureau, or take them to the small claims court.

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