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Recovering from a slippery debtor
madhaquer
#11 Posted : Wednesday, January 02, 2019 10:12:28 AM
Rank: Member

Joined: 11/10/2010
Posts: 281
Location: Nairobi
ombaalbt wrote:
It is a bad idea to lend money to a friend. But those who have found themselves in this pit how did you handle the situation to get your money back especially if you have scanty evidence of the transaction.


My advice.
If he treats you like trash, treat him worse.

Be prepared to shame him in all circles. (Family, friends, church, pub, business, workplace colleagues etc..). Make it extremely difficult for him to be trusted by anyone else. Shame his ass so he is uncomfortable coming out in public. Anywhere you find him, ask him for your money make sure others get to know it.
Go to his workplace and demand your money, show up in his house and demand your money just make it sickening for him.

1. find a mutual friend who is mature and both of you respect. Get him to arbitrate. He should basically call him out and get him to own up to having received the money.
2. Once he admits to owing the money, let him sign a commitment to repay with a date.
3. Use that deadline to follow him up. get a debt collector to use the commitment letter.

Choose to loose the friendship unless he comes clean and apologizes.
Thornbird
#12 Posted : Wednesday, January 02, 2019 10:40:03 AM
Rank: New-farer

Joined: 12/13/2018
Posts: 29
I have used the idea of giving less than they asked for with a friend who was notorious for borrowing an never repaying. After extracting a promise that the friend would pay back the money I gave them an amount I could afford to lose. That was now my insurance and protection against further attempts to borrow because any time they tried I would just start asking when they would pay me back the previous amount and that put a stop to any more requests to "borrow".
AlphDoti
#13 Posted : Thursday, January 03, 2019 10:03:27 PM
Rank: Elder

Joined: 6/20/2008
Posts: 6,275
Location: Kenya
Thornbird wrote:
I have used the idea of giving less than they asked for with a friend who was notorious for borrowing an never repaying. After extracting a promise that the friend would pay back the money I gave them an amount I could afford to lose. That was now my insurance and protection against further attempts to borrow because any time they tried I would just start asking when they would pay me back the previous amount and that put a stop to any more requests to "borrow".

This is similar to vehicle borrowing... Apart from the two or three people who can borrow my vehicle(s)... the rest I just pay for them fare on-way... If they want to take sick child to hospital, I would rather pay taxi one way. If a journey, I give him half the fare etc etc. Once a guy borrowed my car and when I picked it to use next it had some damage which he denied.
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