Run The Money
Follow Run The Money

4 Reasons People Fail To Get Money They Are Owed

  • November 1, 2018

If you're reading this, I'm earning money in some way. I was compensated with money and/or product. Thanks for helping to feed my family. I also may have a financial interest in companies named. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not an accountant, lawyer, doctor, fitness expert, or nutrition specialist. So, talk to a professional before acting on anything you read, watch, or listen to below. Get your own advice and do your own research. Email me at [email protected] with questions.

4 Reasons People Fail To Get Money They Are Owed

Why do people fail to get money they are owed? In today's contributed post, we explore this topic.

But, we want to hear your stories. Who owes you money?


Do you ever feel like you have lost money that rightfully should have been yours?

The truth is that this does happen quite a lot.

Often, you will find that the money that you should have received just never reaches your hand.

You might even have been unaware that you were owed that money in the first place and that makes claiming it next to impossible.

Let’s look at some examples and scenarios of why and how this can occur to make sure that you are never out of pocket and missing money that should belong to you.

You’re Such A Nice Guy

But remember, nice guys, do finish last.

What does this mean?

Perhaps you are owed money but rather than chasing it up, you simply sit back and hope or expect someone to do the right thing. You wait for the check to show up in the mail or for them to give back that cash you were owed.

This could be a business situation where you are waiting months for a customer to pay for a service that you have already completed.

In cases like this, it is worth following up because you can not rely on customers to do the right thing. They could just hold out and hope you forget, leaving you completely out of pocket.

Don’t make the mistake of being too nice. People often fail to get the money they are owed because they don't want to cause problems.

Related: Are You Missing Out On Money That You Are Owed?

Mixing Business With Personal Issues

You should never get in business with friends or family. A lot of startup guides recommend that you start selling to your friends and family first, making them your original customers but this is dangerous.

Friends and family won’t always feel obligated to pay on time or even at all. They could simply draw it out as much as possible and worse treat it as a personal connection rather than a business transaction.

For this same reason, you shouldn’t ever lend money to friends or family either. Again, the chances of getting the money you are owed back could be very slim indeed.

Related: Recover Financial Loss: How To Have A Money Comeback

Failing To Fight

You might also find that you fail to get the money you are owed because you fail to fight. An example would be when you are accused of a crime you didn't commit.

When you are found innocent, your lawyer can file a counter suit for you and sue for defamation or damages to your reputation.

However, to get these damages and claim the compensation you must be willing to take on this fight.

Related: Financial Future: How To Safeguard Your Family’s Money

Not Knowing Your Rights

It is possible you lose out on money because you were unaware that you had a right to it. This is often the case with bills from companies to the general public.

Bills from companies can be very complicated and are not always meant to be understood by the lay person. This can allow them to slip in extra charges.

You need to make sure that you know how much you should rightfully pay so you can claim back on these charges if they are unfair or do not fit in with your contract between you and the business.

Related: Family Money: 5 Epic Ways To Grow Your Wealth

How People Get The Money They Are Owed

We hope you see now there are various times when you can fail to get money that is rightfully yours and what you must do to correct the situation.

People who get the money they are owed do so because they take action.

It's time for you to do the same.

Related: The Ultimate Guide To Making Extra Money That Will Make You Feel Empowered