Recovery of debt

[Colapop]

I have some money owed to me. I could go round there and 'speak' quietly to the person or pursue legal means. I have a contract (that I have momentarily misplaced) that has the deal laid out in very clear terms. This person has not made the last 3 instalments and I have tried to contact him without luck. Because this is a personal loan between the two of us I doubt that I can force the issue too strongly without going to the small claims court. Although if I go there I and I get a judgement in my favour all that he'll do is pay me at $5 a week forever which is not going to get me my money. I'm willing to just get the money without interest that he owes me at this stage as long as I get it.

Without stomping his face into the dirt and wearing the subsequent court proceedings, what are your suggestions? All I want is my money.

[Grahameeboy]

He must be in serious trubs if he is not paying you Mr Huggy.

At what point did you try to contact him? Was it after they missed the 1st missed payment or ??

[Colapop]

After the 2nd. Just thought I better look at other options before I 'talk' to him...

[janno]

I'd go around and see the guy face to face, offering your help in arranging more payment terms to suit. Quite often people are very ashamed when they get into financial trouble, and try to avoid the problem completely.

When I first met my husband he had this attitude. It took me a good solid week of ringing around the debtors and negotiating new payment terms, but they were all very appreciative to be told what was going on, and very receptive to negotiation. This was finance companies etc, mind.

The annoying thing about my soon to be ex husband is that he had the money, he was just really bad at prioritising and paying bills! Maybe your mate is the same.

I reckon you might get more joy out of talking to him, than as you say, $5 a week through small clams. (The I is missed out deliberately, cos that's all you'll get.)

[Grahameeboy]

After the 2nd. Just thought I better look at other options before I 'talk' to him...

I guess in hignsight you should have contacted him after he missed the 1st one rather than letting it get this far......not a criticism mate but this mate of yours was obviously in need of your help in the first place, maybe have got himself in a bit of money shit, you don't contact him straightaway so he thinks you are in huggy mode and, well you know the story

[Pussy]

Sorry, Col, can't think of any suggestion apart from stomping his face in the dirt!! For some reason, I have got a feeling someone is taking advantage of your good nature

[crazefox]

Go and F##K him up. I have done the good thing for a guy.I painted his bike and let him pay it off only got one payment.Get your money out of him in other ways?

[Disco Dan]

I used to own my own small business and a customer refused to pay for the goods, sent her letters warning her I would forward the debt to a collection agency.. still nothing. So I rang a debt collection agency, created an account. For $60 fee they would find her and recover the debt. Gave them proof of sale of the goods and all the information I had on her. Two months later a cheque arrived. Easy. You dont lose money, as they add their fee to the amount they owe, meaning the customer paid my $60 fee!

[Mully]

Owmuchisit??

I agree with the suggestion to go and talk to him. If he's bullshitting you, it's easier to pick up face to face than over the phone.

Good luck

[DMNTD]

Bro....go and pick up items which value exceed the debt owed....ideally items of great personal value (more likely to pay then) and do it ASAP.
No doubt you'll get a bit of BS from this person however simply remind them that they've broken a friendly agreement and these are the consequences.
Give this person the opportunity to pay back the bad debt under a staunchly structured system with an initial payment due NOW and stay onto it as they've now proven their boundary pushing ways.
If you do not act soon you may as well forget it the debt.

I've done a LOT of collections over the years from guys that make you look mild/small ,so don't hesitate to contact me mate.
Proactive is the key :yes:

[Hitcher]

Torch his house. Or sell one of his kids. Use your Soprano imagination.