Bad personal debts

[old_yet_horny]

Hi Bros..

Have loaned out some money and having problem getting it back as the debtor keep avoiding me. Amount not really huge but i hate the feeling of people avoiding me.. if he answers my call or message to prolong payment date.. I can accommodate with it but running away is pissing me off.

Question for bros:

1) Get debt collector help? Their typical rates/commission?
2) I have the whatsapp messages of him asking for loan and my transfer record to his bank account... consider legal?
3) Any bros in debt collection industry able to provide some heads up?

Thanks.

[old_yet_horny]

Originally Posted by funboi

how much.....

15k sgd...

[ramon]

Originally Posted by old_yet_horny

15k sgd...

From debt collector, you need to pay a admin fee and they charge about 20% of the borrowed sum, but they may take their time and this may drag on for a long duration.

Another way is to approach a lawyer and let them advise you if it's still possible to pursue based on the whatsapp messages.

If lawyers say can then they will file with the court for a garnishee order and force the borrower to pay up or try to declare him bankrupt.

[old_yet_horny]

Originally Posted by ramon

From debt collector, you need to pay a admin fee and they charge about 20% of the borrowed sum, but they may take their time and this may drag on for a long duration.

Another way is to approach a lawyer and let them advise you if it's still possible to pursue based on the whatsapp messages.

If lawyers say can then they will file with the court for a garnishee order and force the borrower to pay up or try to declare him bankrupt.

TQ Bro.

Debtor already responded after I told him I will pursue the debt through legal means.

Will expect partial repayment soon.

[BlueDemon]

Originally Posted by old_yet_horny

TQ Bro.

Debtor already responded after I told him I will pursue the debt through legal means.

Will expect partial repayment soon.

Brings back some memories. Lends ppl $$$ to please them but we suffer. Chase them for payment, they either bo chap you or scold you for being pushy. KNN. Some people just dunn appreciate.

[trans5425]

Originally Posted by BlueDemon

Brings back some memories. Lends ppl $$$ to please them but we suffer. Chase them for payment, they either bo chap you or scold you for being pushy. KNN. Some people just dunn appreciate.

How many of you still remember your literature lessons back in junior school? There was one phrase that I learned from one of Shakespeares play and it stayed with me all this time.

"Neither a lender nor a borrower to be"..... I'd rather donate the money to him/her if a friend is genuinely is in financial difficulty. If they choose to return it ....fine. But even if they dont return it.... I will never ask them for it.

But there certain categories of people I will never help. Those that get into financial difficulty from gambling and those that are living a lifestyle beyond their means.

[lagonda]

Originally Posted by old_yet_horny

Hi Bros..

Have loaned out some money and having problem getting it back as the debtor keep avoiding me. Amount not really huge but i hate the feeling of people avoiding me.. if he answers my call or message to prolong payment date.. I can accommodate with it but running away is pissing me off.

Question for bros:

1) Get debt collector help? Their typical rates/commission?
2) I have the whatsapp messages of him asking for loan and my transfer record to his bank account... consider legal?
3) Any bros in debt collection industry able to provide some heads up?

Thanks.

hi bro don't believe the debt collectors.they are the biggest scam.will collect on your behalf but won't return.check debt collectors who deafult online.best is legal means but male sure lawyer is recommended and always shop around for a cheap one.

[Juuni]

which reminds me this army friend of mine, borrowed him some money after 5 years we ORD'ed, and until now haven't gotten single payment.

I consider it write off, since no point clinging to it, won't get back in the end.

[BlueDemon]

Originally Posted by trans5425

How many of you still remember your literature lessons back in junior school? There was one phrase that I learned from one of Shakespeares play and it stayed with me all this time.

"Neither a lender nor a borrower to be"..... I'd rather donate the money to him/her if a friend is genuinely is in financial difficulty. If they choose to return it ....fine. But even if they dont return it.... I will never ask them for it.

But there certain categories of people I will never help. Those that get into financial difficulty from gambling and those that are living a lifestyle beyond their means.

Fully agreed

[MensPlus]

Originally Posted by old_yet_horny

15k sgd...

15k, interest free... u will be 1 of the last to get back ur $ if u dun apply pressure on him.

[pushup]

TS so rich ah.. borrow me lol

[Bizsta]

Originally Posted by old_yet_horny

TQ Bro.

Debtor already responded after I told him I will pursue the debt through legal means.

Will expect partial repayment soon.

partial payment and the rest work out an instalment plan

[jameschong1]

u confirm stupid!
he pay partial, 1 instalment, then will not pay anymore.
then yr trouble start all over agaiin.

[Bizsta]

Originally Posted by jameschong1

u confirm stupid!
he pay partial, 1 instalment, then will not pay anymore.
then yr trouble start all over agaiin.

so what do u suggest a better alternative to recover the debt.