Collecting a personal debt

[Vaucluse]

I know, I know . . .

About six years ago a guy, let's call him Vick (a pseudonym), I had known for a few years asked to borrow 20k as he had underwritten a loan for a friend . . . unfortunately the loan was from a loan shark.

His friend ditched the country and Vick was in dire need of help. He was getting married and was in all sorts of trouble.

So, being the nice guy that I am I lent him the 20k on the basis oif six months non-repayment and then $1000/month, interest free. He signed an IOU . . .

Now, six years later he still hasn't re-paid me and doesn't answer calls or e-mails . . . I can't find the IOU (lost after three moves).

A debt collector can't do anything as he has no legal basis (like an IOU) to act upon.

Vick seems to be doing ok, he is a director at a music/performance company, drives a nice little car and has two kids.


Any ideas, short of sending out some big Yugoslav guy to rip his arms off?

[QRM]

Tough call, my mum once said if you lend money to a friend assume its a gift and you will never see it again. If it comes back its a bonus.

He could have genuinely forgotten but the fact he avoids you sums it all up.

See it from this perspective, 20k is the price to find out what this guy is really like. Private detectives would charge more for detail information on a persons integrity so you got a bargain.

Send a letter to his firm asking when he plans on returning the loan, if his letters are opened by a secretary, it will guarantee news on the grape vine and it might embarrass him into doing something about it?

Otherwise find out who stocks frozen horse heads.

[Vaucluse]

Yes, QRM, I should see it as a 'gift' . . . but what rankles me is that I helped him out of a potentially really shitty situation and he does this . . .

I've organised letter drops to his place, sent e-mails to his work (the company info address), called his place of employment and left messages, mentioning the debt etc . . .

Maybe you're right and I should find Rocco or Luigi instead of Ivan and Boris.

Irks me no end

[OogieBoogie]

go confront him at his office or at his place with wife and kids nearby.

[raden888]

I would take this as one of those lessons to be learned unless of course you are hell bent on retrieving the 20K then do what the previous poster suggested although he will most likely give some flimsy excuse as he seemed very thickskinned.

You might want to give Mick Gatto a buzz

[Vaucluse]

Gatto? Make him an offer he can't understand?


OogieBogie, I don't really want to 'scare' his kids or wife, though she is a bit of a battle-axe . . .

I know I should write it off . . . and I wold but it just irks me . . . irks me . . .irks me

[Splatted]

Any ideas, short of sending out some big Yugoslav guy to rip his arms off?

Yeah, I liked your last idea

http://www.youtube.com/watch?v=2YVpJb2Wij8&NR=1

Seriously though, if this guy has even a teeny weeny shred of decency in him, he'll be ashamed of himself when you remind him just how big a pickle he was in when you helped him out.

Invite him out for a coffee, and then bring up the topic.

[Plavt]

I can only speculate as I don't know the full details but it seems that it may well have been a pre-arranged scam! Letters just go in the dustbin and as you know phone calls are a waste of time, the guy clearly couldn't care less. I doubt if sending any 'muscle-man' will help as I suspect he has done this before. Sorry V, you have been had.......

[OogieBoogie]

OogieBogie, I don't really want to 'scare' his kids or wife, though she is a bit of a battle-axe . . .

well he had it coming doesn't he?

BTW, could you lend me 20k? i will definitively get you back the money very shortly... like in never

[ksl]

You should offer the collection to a freelancer, of cause he only gets paid, when the money is delivered to you! It's very easy done and can be effective on con artists, that really do want to avoid any publicity.

You may also want to do a credit check on him or dig up some crap and leave it on his doorstep, these types can be handled without any violence if you choose your words carefully....just like any other chess game, strategy is key, but don't get yourself in trouble over it.

Also depends in which Country he is too! His car is looking good is it, that could be changed, the paintwork i mean name and shame is the way. I would also be more than irked I'm afraid.

Although when I was crop spraying for an ex Army Officer, I had a contract that he paid my digs up in Scotland for the whole season, though i finished the work in 3 months, of a 6 month contract and he needed to relocate me to nother area which we had already discussed before the contract was signed, he refusing to hold up the contract, which was costing me a great deal of money keeping the property on.....

In which case i had to pay the rental myself, with no income because i was on a freelance basis and relied on the contract fixed income plus bonus for work completed.

I was also irked so a gave everyone i met in the village free petrol at his expense has i had a Company petrol account

That put an end to our relationship, but who needs friends that only want to use you to make money for them! I know my net worth and I value my integrity, everyone would like a win win situation, it can only happen if you make it happen, otherwise you will be taken for a ride!

20K is a lot of money for some people, I would just pay him a visit and explain he's got to start clearing his debt, otherwise you will have to take alternative action.

I am still owed money in UK was 2000 pound, not much, but the guy had spent it without permission, i was overseas and his marriage broke up.

Though he is in a criminal environment and his hard core ego is his label in front of his mates, a regular in prison...

I know if i confront him in front of his friends, he would have to do something rather stupid to hold face, so I take him for a ride and calmly offer him the alternative of paying his debt, or i would have to physically hurt him, and i really didn't want that to happen.

Fear is king no matter where you are it must be faced, that is the only way to deal with bullies, and con artists.

Psychological warfare works, but you have to be confident to go the last mile too, just don't get caught having your pep talk!

Take splatted advice in the first round and take it from there, step up the pressure the second meeting

[Mad Scientist]

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[raden888]

Wow MS, poor you. Some friends you have, who needs enemies when you have friends like these.

I learned my lesson early in life during my Uni days, loaned $1000 to a friend with a sob story and never saw a dime.Okay, its only $1000 but that's a lot if you're a Uni student.

"Tai Long " Loan Shark do this recovery too but if you are not local best to stay away from them. Your local friends may have this contact . This will be the last resort.

Try to avoid these underworld types...Sometimes they can turn on you and you do not want these kinds harassing you and your family.Its just not worth it. I've seen many families destroyed by them

[Mad Scientist]

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[ScoobyDoes]

I don't really want to 'scare' his kids or wife, though she is a bit of a battle-axe . . .

Six Years ago already? Then I think his kids are old enough to cope already and not be scared. It will also be a good life lesson for them if you go round, see their dad an kick his teeth in.

Today's Lesson, kids...... Don't do the Crime, if you can't do the Time.

[nakatago]

So, V, how did Vick come to pay his debt (or at least indicate a memory of having one)? All I know is that you were using a squat toiler when you received a text message....



Literally, this time.