Millions of people need financial support and suffer from this for one simple reason - they do not know how to ask for money correctly to solve current problems. Funds may be needed for a variety of purposes - treatment, vacation, buying a toy for a child, purchasing a car, starting a business, and much more. But, despite the variety of goals, the principles for preparing a request are not much different.

We ask for a loan

We always have loved ones “at hand”, friends, relatives or just acquaintances who, if necessary, can provide financial assistance. The question is how to ask for a loan so that you are not rejected. This is a whole science that requires compliance with a few simple rules:

Never start a conversation with a request for money.
Even if they refuse, thank the person for listening. There are times when you were immediately refused help, but after some time an acquaintance (friend, relative) decided to help with money.
At the beginning of the conversation, find out how the person is doing, whether everything is fine with his health, how his day went. For some time you need to carry on a normal conversation and only after that move on to the request.
Remember the shortage of funds, as if by chance, and ask to borrow money.
Take out a loan only in extreme cases when it is impossible to solve the problem in any other way. Such requests are relevant if funds are needed for an expensive operation.
Pay off your debts on time. Otherwise, no one will ever borrow from you again.

How to ask for money for a business?

There are situations when you have many ideas, but do not have the funds to implement them. In this case, you can use the help of sponsors. The question is how to ask rich people for money. The algorithm of actions is as follows:

Decide on a strategy. Sometimes it is easier to borrow money from several people than to ask for a large sum from only one sponsor.
Decide what type of investment you need. As payment, you can offer a certain percentage in the business or a seat on the board of directors. It is better to record all agreements on paper.
Write down your action plan in detail, so that the investor can familiarize himself with and understand the seriousness of the person’s intentions.

How to ask for free money for various purposes?

If you urgently need money for any purpose, place an ad on our website in the “Ask for money” section or immediately below the article. In your appeal, describe the life situation that has developed in your life and tell us what steps were taken to solve the problem. Also indicate the exact amount you need and state that you will be glad to receive any support. Be sure to write the contacts and details where the funds should be sent. That's all. All you have to do is wait for your sponsor. To better understand how to properly ask for money for treatment or business, you can watch a video on the Internet or follow the recommendations in the article.

Borrow a large amountpossible at a bank or other credit institution, but in addition to the principal debt, you will need to pay interest. If we are talking about buying real estate, the final overpayment can be 100% or more. Therefore, to save money, many try to borrow money from relatives and friends. What is the correct action if someone asks to borrow a certain amount?

In the article we will tell youhow to lend money correctlyto help, make a profit and not lose your funds. Let's answer another important question: what is the right thing to do iflent money and didn't pay it back.

When can you lend money?

First of all, you need to focus on your own financial condition. You can borrow only if you yourself do not need it, you can allocate a certain amount from the so-called financial cushion, and if the debt is not repaid on time or the borrower refuses to pay at all, the loss of the loaned money will not harm your well-being. In general, when lending to someone, you should be guided by the principle of “do no harm to yourself” and put your own interests first.

An important factor is who exactly is asking for the loan. It is safe to lend to those who:

🤝 Regular income - if the borrower is constantly experiencing financial difficulties and does not have regular income, it is unlikely that he will be able to return the money on time and in full.

🤝 Reliable reputation - any credit transaction is a risk for the lender. If you know, for example, from friends that the borrower does not fulfill his obligations, your risk of losing money increases many times over.

🤝 The purpose of the loan is justified - a reasonable person will ask for a loan only if it is really necessary or beneficial for himself. For example, if you urgently need money for treatment on which your life depends, or you lack a relatively small amount to buy a home, you have a stable income, but you don’t want to overpay at the bank or for rented housing. You should not borrow to buy things or services that you can do without: expensive clothes, jewelry, travel, a car, if its owner even pays dearly for gasoline.

Example situation:

From the borrower's side.Your friend knows that you have a certain amount of savings that you can ask for a loan. Due to problems at work, his financial situation has worsened: he cannot repay a bank loan and faces penalties. In his opinion, he can easily solve his problems by borrowing from you, and then intends to return it.

From the creditor's side.You assess the situation differently: your friend already has a loan that he cannot pay off; he has not provided savings that would help him in an unforeseen situation. Because of this, doubts arise whether he will be able to return the money.

In most cases, they ask to borrow a relatively small amount: a few hundred or thousand before payday, due to delays in payments or in an unforeseen situation. Not only close people, but also just acquaintances or neighbors can make such requests. And it is in such cases that there is the greatest likelihood of losing money.

One of the most common situations: your friend and part-time neighbor comes in almost every month and asks to borrow 500-1000 rubles, assuring that he will definitely return it and every time he asks to wait. At the same time, he abuses alcohol, and his source of income is temporary part-time work. On the one hand, 500 rubles is a small amount, but with regular circulation, the debt can exceed 3-5 thousand, which is already noticeable. Over time, it becomes clear that the acquaintance never intended to return the money and used his acquaintance with you for personal gain. As a result, you lost funds that you could have spent on yourself, children, put in the bank and received additional income. In addition, you feel deceived and used.

Conclusion: in order to avoid falling into such situations, be careful when borrowing even small amounts - stipulate a repayment period, do not lend if you have not repaid the previous debt.

Is it possible to lend money at interest today?

If you are asked to borrow money, you have the right to offer your own terms, for example, to return it with interest. This way you can help and get additional benefits for yourself.

Interesting! Some borrowers themselves offer to repay with interest. Such a decision can benefit both parties to the transaction, for example, if a large sum is borrowed to buy real estate or a car. The borrower receives a loan with a lower overpayment than with a bank, and the lender receives higher deductions than with a bank deposit.

When lending money at interest to relatives or friends, consider two important aspects:

☝ Clearly describe the conditions - the loan amount, the amount and procedure for calculating interest, or, in order to avoid complex calculations, the total amount with overpayment that you must return.

An example of unsuccessful wording: “The agreement is concluded with the payment of (full name) interest on the loan amount in the amount of 10%, which (full name) undertakes to pay no later than the 10th day of each month, starting from April 10 of the __ year.” It is unclear from the contract how the commission is calculated - 10% per month or is it an annual rate.

✌ Remember about taxation. By issuing funds at interest, you become a moneylender - you make a profit from the loan. Such income is subject to tax, the tax rate is 13%. In order to formalize your income according to the law, enter it in the declaration in form 3-NDFL, the form can be downloaded from the website of the Federal Tax Service www.nalog.ru . Reports are submitted by May 1 of the following reporting year.

Is it possible to require a deposit?

Not only banks, but also individuals have the right to issue secured loans. In this case, the loan agreement is registered at the local branch of Rosreestr. Additionally, the agreement may specify guarantors who will share the financial responsibility of the debtor. An entry is made in the Unified State Register that the debtor’s property is under an encumbrance.

Until the loan is repaid, the property will be pledged to the lender. If the debt is not repaid, the collateral can be sold and losses can be compensated.

🔹 Borrow as much as you are willing to lose. Many financial planning experts adhere to this rule. Even if the borrower is close to you, with a good reputation and high income, no one is immune from unforeseen situations. Don't assume that you can get your money back sooner if necessary, or that you will definitely receive it on time. This way you will eliminate your own financial stress.

🔹 You don’t have to lend as much as they ask, you can borrow some. This way you will maintain good relationships, provide all possible assistance and reduce your own risks.

🔹 Make the deal not verbally, but in writing. The transaction did not actually take place without documentary confirmation. Without a receipt, it is impossible to prove how much was issued, for what period and under what conditions. The borrower can take advantage of this intentionally or unintentionally - just forget.

Howit's right to lend money

🔻 Find out the purpose of the loan and why the need arose.It is better for the future debtor to explain where the funds will be sent and why he chose this method of solving financial problems. This way you will receive indirect evidence of a person’s reasonableness and solvency.

🔻 Set exact terms and conditions of repayment.Do not use the phrase “You will return it when you can” even if you are helping relatives. These conditions do not oblige you to anything; in fact, you can pay off in 10 years or 50. Set clear deadlines, which on your part can be justified by the need to repay your own loans, pay for studies, and purchase necessary goods.

When setting deadlines, do not forget about inflation: with an interest-free loan in a year, you will actually receive less than you borrowed.

🔻 Get a receipt or other document.Document the terms of the agreement, for this you can draw up a receipt or a loan agreement.

🔻 Do not allow the borrower to violate the terms of the agreement. Remember: if the debtor does not repay the loan on time, he is violating your rights to receive and manage your own money. Do not hesitate to remind about the debt, find out the reasons for the delay, and stipulate fines for violating the terms. This is how all lenders work.

How to properly prepare documents

When lending money to loved ones, you can issue a simple receipt or loan agreement. How these documents differ and how to draw them up correctly will be discussed below.

How to write a promissory note correctly

Receipt for borrowed money- this is a simple document that records the fact of transfer of money from one person to another, as well as the terms of this agreement. The receipt is written by the borrower, the signatures of the parties are placed at the bottom, and, if necessary, the signatures of witnesses to the transaction. It is not necessary to have the document certified by a notary.

The receipt contains the following information:

📝 passport details of the borrower and lender;

📝 registration address of the borrower;

📝 loan amount - in numbers and words;

📝 loan conditions - the period for which the funds are issued, the presence of interest for use, the procedure for repayment - in parts or in one amount.

Important! If the receipt does not indicate the exact date of return of funds, and you need to receive money, the debtor is obliged to repay the debt within 30 days after the corresponding request.

Additionally, you can write for what purpose the money received will be used. Experts recommend indicating on the receipt “the court at the place of registration of the borrower.” If this note is not made and the money has to be returned in court, the statement of claim will have to be filed at the place of registration of the borrower, which may be in another city or region.

Interesting! In judicial practice, there are quite often cases when the court cannot make a decision in favor of the creditor, in particular, due to errors and inaccuracies when writing the receipt. For example, if the receipt states that the person must return the money, and there is no word that he received it. There is no documentary evidence that a debt obligation has arisen.

How to draw up a loan agreement

The agreement is usually concluded if the loan amount is more than 10 minimum wages. For example, in Moscow, this amount reaches about 200 thousand rubles. If they lend a smaller amount, they write a receipt.

If there is a loan agreement, it is easier to resolve the case through the court, because the concept of “receipt” is not in the procedural code and its legal significance still has to be proven. Based on the contract, the claim will be considered immediately.

A sample loan agreement can be found on the Internet or drawn up in free form. When transferring large sums, it is better to involve witnesses who will confirm the fact and terms of the loan with their signatures in the agreement.

What documents are needed when repaying a loan?

Debt obligations are a risk not only for the lender, but also for the borrower. If you borrow from scammers, you can return the money, and they, in turn, will claim that the loan was never repaid and will sue.

To eliminate deception and misunderstanding, when returning funds, the creditor writes a response receipt that he received the money. If the debt is repaid in parts, several receipts are issued for each payment. After paying the entire amount, on the initial agreement the creditor writes by hand “the obligations are fulfilled in full, there are no claims”, the number and signatures of the two parties are indicated.

Another way is to use a bank transfer to transfer funds and indicate the purpose of the payment: “repayment of debt under the agreement __”.

What to do if the debtorborrowed money against a receipt and did not pay it back

First, you should try to solve the problem directly with the debtor:

😟 Contact him and remind him of the obligation, perhaps due to inattention or other reasons he forgot about the deadlines.

😑 If the borrower asks to defer payment, ask to explain the reason and name the exact date of repayment of the debt. If you have the opportunity and desire, provide a deferment; if not, say that the money is needed urgently, financial difficulties have arisen.

😠 If the situation repeats itself repeatedly - the debtor asks for a deferment and does not return the money - say that you are filing a lawsuit.

To get money from a debtor, clearly indicate to him the situation, possible solutions and consequences. Speak honestly, directly, without unnecessary emotions, ask your interlocutor what options he offers.

How to get money back through court

You can sue the debtor if you have a receipt, agreement or other evidence that confirms the debt obligation. The application will be considered if the loan repayment period expired no later than 3 years ago.

If the loan agreement or receipt is drawn up correctly, the court will most likely take your side and issue a writ of execution. This document should be submitted to the bailiff service, who will take appropriate measures to return the creditor’s funds:

👮 They will meet with the debtor and demand the money back.

👮 In case of refusal, they will submit requests to banks to identify accounts or deposits and write off funds in favor of the plaintiff. No more than 50% of the accrued amount can be written off from a pension or salary account each month.

👮 If there are no bank accounts, the bailiffs will begin an inventory of the property and sell it at auction.

Alternatively, if the debt is more than 500 thousand rubles, and the period of non-payment exceeds 2 months, you can apply to the Arbitration Court and declare the debtor bankrupt.

How to refuse correctly if they ask for a loan

▪ Speak clearly.Don't be afraid to say no. If it is difficult for you to refuse without explaining the reason, say that there is no free money, you have planned purchases, investments, or you yourself are experiencing financial difficulties.

▪ Borrow some.If the amount is large, offer to borrow part - ½, ¼, even less, and ask others for the rest. This way you will not be the only creditor and will share possible risks with others.

▪ Offer an alternative.For example, tell us about interesting offers from banks and other credit institutions.

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How to borrow money correctly

16.11.2018 4147

At least once in their life, everyone is faced with the need to borrow money from relatives or friends. According to statistics, 9 out of 10 people who are asked for a loan are refused, so a loan is not an easy test for both. The first one is worried about being loaned money, the second one is thinking about how to gently refuse and not offend. Today we’ll talk about how to borrow money correctly so as not to get rejected, how to behave and not embarrass a person.

How to behave

You need to make a request correctly, then you will not hear a negative answer. Before asking the creditor for a service, you need to specifically present the required amount and objective terms for repaying the debt. Depending on the sources of financing, the duration of the loan is determined. Ask for a certain amount, clearly specify the return period. Agree on how you will give: all the money at once or in several parts.

How to borrow money without being rejected? It is important to convey to the lender that he is the last hope. Describe the situation in detail, provide the facts:

not enough money before payday;
urgently need medical help or examination;
it is necessary to eliminate unforeseen difficulties (car repair, flood in the apartment, etc.).

Do not push, do not dictate conditions, ultimatums. Rudeness will not help in this situation. Behave calmly, describing the current situation in detail. A person who does not make eye contact, mumbles, or fusses does not inspire trust.

A common mistake is pre-processing by the lender. Instead of moving on to the question, many begin to ask about family, business, and try to carry on a casual conversation, which, in fact, is not interesting.

Try not to use the particle “not”, then the probability of refusal is lower.

Answering the question: how to borrow money correctly so as not to be refused, experts recommend:

formulate proposals competently and clearly;
speak confidently, look your interlocutor in the eyes;
argue for the purpose for which the money is spent;
speak politely, do not raise your voice;
specifically define the terms and conditions of return;
if necessary, leave a receipt or offer property or valuables as collateral.

If you know that a person, as a matter of principle, never gives loans, do not turn to him for help, this will put both of you in a difficult position.

What are the deadlines?

Before asking to borrow money to be given, determine specific terms for repayment. Based on your own capabilities. If the loan size is small, it can be repaid within a month. In some cases, the period can reach three months. When the debt is larger, it is repaid in three to four months, without prejudice to one’s own interests and needs. Of course, you can return the money earlier, but in this case the balance will hardly be enough to pay utility bills and food.

Try to ask for money in the most hopeless situations.

Borrowing large sums is not advisable unless we are talking about medical care for yourself or loved ones. Going into debt for household appliances or new clothes is stupid. To determine the return period, consider:

monthly income amount;
availability of additional funding;
relationship with the creditor, his tolerance;
the amount of interest, if the loan was issued at interest, against a receipt;

Evaluate your options wisely. There is no need to shorten the return period knowing that it will not be respected. It’s better to play it safe and name a longer period so as not to be branded a deceiver. If the borrowed money is returned on time, the next time you ask, the likelihood of refusal is much lower.

Small tricks

Answering the question of how to ask for a loan of money, here are some tips:

Prepare for the conversation in advance, collect the necessary information about the person: whether he lends money or does not do this out of principle;
Specify a larger amount than is actually needed. If the borrower begins to doubt, give the original figure. Be sure to mention that you will ask someone else for the rest;
You need to ask when a person is in a good mood;
If you need money urgently, say that some friends have already helped you, only a small amount remains to be collected;
Don't avoid or ignore the person you owe. Make it clear that you are mindful of duty;
Repay your debts correctly: arrive at the agreed place on time, and don’t forget to thank them. If in addition a small gift is included (candy, a bottle of champagne, etc.), the person understands that you can be trusted and will be favorable next time.

Asking for money is an art that requires patience, politeness, and the ability to persuade. By following certain rules, you can enlist the support of your friends, without receipts or collateral.

Usually people say: “If I lent money, I gave it internally.” I see the problem in social roles: we are friends/partners/relatives. We must share! At the moment when you give money, you are the lender, and your friend is the borrower. We must learn to live in these roles.

Ask the right questions

When asked for a loan, you need to find out:

Why do we need money?
Is there sufficient cash flow to service the new obligation?
Are there other lenders? You can ask for a report from a credit history bureau (NBKI, OKB, Equifax - preferably the first three). Now you can request a report from almost every bank.

Your borrower may ask: “Why all this? You’ve known me for a hundred years.” Your answer: “As a borrower, I don’t know.” If it’s easier to get money from the bank, then this is the best outcome for both of you, believe me.

I have many different stories about “acquaintances”. Here’s a typical one: “Mom has cancer, we need 600 thousand rubles for treatment.” My friends, of course, gave me away. Everything is fine with the mother, she doesn’t know what her daughter is saying behind her back. But it would be correct to ask the key questions: what procedure is needed and how much does it cost, where the treatment will be, why there, what is the name of the attending physician, do you have any documents or photographs with you.

Intimidate with collectors

They say: “If you lend it, then run away, humiliate yourself, and pay it back.” The problem I see here is social expectations. Since they borrow from friends, they can be encouraged. This is not a bank. These social expectations are broken in the following way. When discussing the terms and issuing a loan, you say the magic phrase: “Here’s the money for you, I sincerely want your question to be resolved in the best possible way. BUT! I don’t want to lose our relationship and our friendship with you is important to me. If there is a delay on this obligation and I do not see the monthly payment on the designated date, I will transfer this service agreement to the collection service. I have no competencies in collection, and relationships are more important to me.”

What happens? Debts are repaid on time, I assure you. The “guys” will take care of your overdue payments for 10–15%. Classic good and evil cop. You maintain relationships, and they (collectors, - approx. ed.) are pressing. But there are some nuances here too. You must be sure that the “guys” act strictly within the law. Otherwise, during the interrogation process, you may become the main character who gave orders “by prior agreement.” Find a professional collector who works in your region and enter into an agreement. Maybe the efficiency of collection will be a little lower, but the risks are zero.

Don’t let your guard down, even if the person has already borrowed money from you and paid it back.

Let's consider the situation: I lent money - they returned it to me on time. Everything is fine, what can I talk about? And there is something to talk about. Option two:

1. You unconsciously, but accurately guessed the target group and financial product, and competently carried out regular actions:

made a receipt;
set a monthly automatic reminder about the current payment in the calendar for yourself and the borrower;
accepted current payments with gratitude;
talked about the importance of regular income.

2. You're just lucky

Common scenario:

The borrower first asked for X rubles. Returns on time. Then he asks for 2X - he also returns it on time and with interest. And then he asks for 10X for “a business that will definitely work out.” “You know, I won’t let you down,” says the borrower. And then he doesn’t pick up the phone. ⠀

OUTPUT 1: Do not lend more than the borrower can service.

Think about it, did he even hold that kind of money in his hands?

OUTPUT 2: Do not lend money for projects.

Only to support current activities. Make sure your current cash flow is sufficient to service your debt.

I myself have violated this principle more than once. The result is almost always the same - recovery in enforcement proceedings.

If they borrow more than 30 thousand rubles from you, then take interest on it. Otherwise, you devalue your capital and your energy invested to earn capital. Issue at the bank loan rate. There will be economic motivation to return it to you as soon as possible.

If the debt is not repaid, let the situation go

A person who lent money to a friend or relative and did not get the money back understands that he himself is to blame. And if the debt is not repaid despite the fact that you did everything possible, the best thing to do is to simply let the situation go. Otherwise, emotions will overwhelm the mind, and the goal of life will be to return the debt and take revenge.

I have a crazy story based on real events. A friend lent me a large sum of money, which was left for the purchase of an apartment. Everything I earned. But it happens. Nobody wanted to deceive anyone. People know how to earn money, but they cannot save it. The borrower made a bad investment. We contacted a large state-owned company. She neglected to make an advance payment under the supply agreement. The borrower delivered the products. The company sued the advance payment back. This is a classic small business push-up scheme.

Result: a lot of debt, our guys write statements to the police against each other, beat each other half to death... Now both are in prison, in my opinion.

One word - madness.

It may seem that borrowing money from a friend is easier, safer and more convenient than from a bank or other organizations. However, this can lead to irreparable consequences if done in a hurry, without thinking through everything to the smallest detail. Before you ask a friend, consider whether you have other options and treat the matter with all the seriousness it deserves to keep both your finances and your friendship in order.

Steps

Make a deal

Take everything seriously. You may not have to sit across from each other in suits like you would in a bank, but you need to take it just as seriously. Financial matters are very important and should be handled accordingly.

Insist on favorable terms for your friend. Your friend will likely decide not to charge you interest or negotiate the contract (or feel that he cannot do so), and although this will be a plus for you, for the sake of maintaining the friendship, it is important to let him know that you want to take the money at a fair price for both parties conditions.

Write down all the conditions. Even in the modern world, nothing is more proof of the intentions of two parties than a signed piece of paper. Draw up a document specifying all conditions and consequences.

If you are borrowing money for your business, describe your goals. If you need money for a new or existing business, stipulate this condition.

Will the friend's money be a loan or an investment? Does the loan mean that the friend will have the right to share in the business, profits, losses and risks?
If you don't want your friend involved in your business, be clear about it, otherwise you may unintentionally involve him in a bad idea.

Money and friends

Choose the right person. You probably have several people to turn to, and you may decide that the one with the most money is the best fit for you. But it is important to consider not only the amount in the bank account, but also the character of the person.

Don't haggle. Even if you love it, now is not the right time. Thank your friend for offering to help you, and you won't regret it in the future.
- State the exact amount you need, but be prepared to look elsewhere for money. If you need 800 thousand and a friend can give you 200, that's better than nothing. And this is definitely better than trying to squeeze more out of a friend.
- Walk away from the deal instead of trying to get your way. Of course, it will be awkward if you ask for money and then refuse, but it is better to do this than to force your friend to do something he doesn’t like. Say you need to re-evaluate all your options.
Be prepared to hear no. This is a continuation of the advice that you should not bargain, but it is worth mentioning separately. Don't put pressure on someone who doesn't want or isn't sure about lending money.

Make paying off debt your top priority. You must take the loan seriously and try to always pay the required amounts on time.

Separate financial and personal relationships. Don't bring money to a party or other event, and ask a friend not to talk about it in such places if necessary. Discuss this issue in private so that your friends do not know about this financial transaction.
- You should not refuse to talk to your friend for this reason if you have not repaid part of the loan on time. Tell him what prevented you from paying and explain what you plan to do. You need to talk about this in the right environment. Contact your friend yourself - don't make him remind you.
- If you value your friendship, treat your friend with respect. Be open and honest in both financial and personal matters.

Other options

Analyze your financial situation. If you feel like you need money (whether it's a bank loan or a loan from a friend), first think about why this happened and whether you have other ways to get funds.

Look for ways to save money or get it from other sources. Perhaps you can give up satellite TV, start buying products on special offers, work part-time in the evenings, ride a bicycle along public transport? Consider what you can do yourself before you involve another person, especially a friend, in your financial matters.
- WikiHow has articles on how to save money. For example, you can regularly transfer money to a savings account, eat at home, buy groceries in bulk, use less electricity and water, find a better option for renting an apartment, and have fun in less expensive ways (for example, go to free events and hikes).
- You can also get a second job, sell unwanted items, or participate in paid surveys and studies.
Use all other options first. Contact a friend only as a last resort. There are certain risks associated with such loans, but at least by not borrowing money from a friend, you won't jeopardize the friendship.

Think about possible troubles. It's hard to imagine that a relationship with a close friend could deteriorate over money, but it's not impossible. Many people advise against borrowing money from friends so as not to lose friendship.
Talk to someone or ask for help. Friends are willing to help each other, so they may give you money even if they don't want it themselves. Give them the opportunity to help you in other ways without forcing them to think about whether they should become your lender.
- It's possible that your friend has also struggled financially in the past, so ask them for tips on ways to save money.
- Perhaps your friend can also offer you a part-time job. Ask and find out.
- Let your friend know that you have explored all your options and asked others for their opinions before you approach them for money.

Be prepared for rejection. Your friend may not have the amount you ask for, or he may think it will harm your friendship. It doesn't matter what the reason is, your friend has the right to refuse you. Try to come up with a backup plan.
If you find that you can't pay off your debt every month, ask a friend to change the terms. Maybe you'll pay less each month, but extend your payment period. It's best to pay everything on time, so make sure you can do it. If you want to change the terms, you must know exactly how much you can pay and when. You shouldn’t ask to change the terms again after two months.