Quote:
Originally Posted by hells gate porter
yes, i never loan anyone anymore. i wish it wasnt so big of money. i know this guy is totally able to pay. good the papers are legal and notarized. but what to do now? lawer is too expensive.
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Ok, I agree -- lawyer's tend to be expensive. Fortunately for you, that cuts both ways. We will get to why that is good for you a little bit below. btw, upfront -- I am NOT a lawyer, am just a guy on the internet, not qualified to give advice . . . yadda, yadda, on and on.
BUT I can tell you how I do my collections.
First, I guess you have asked him to pay, and let him know that you are placing him into collections?
Next, is there anything securing the loan (car, titled property, paper instruments, etc.)? We will want to set those claims and perfect any liens you may have in advance. There are some steps involved and often when folks see those start they will pay the bill.
Next comes a little more legal. I usually prepare an Original Petition -- the first papers you file with a court -- and send them a copy -- before I file the suit. When folks see they are really going to be sued, now most of the rest pay quickly. If not, then you file the suit -- in the highest applicable court available.
When I am doing this, it is usually all Pro Se (without an attorney). By the time folks figure out their own attorney will cost them tens-of-thousands -- because we are starting at a high level court -- and it is costing me nearly nothing -- they figure it is better and cheaper to pay me, and do so.
We can go in the further steps, but those listed above have some specific details to them. But to get more detailed, you will have to provide some detailed information -- to start with -- State you are in, amount of the debt, and related dates.
hmmm, wait a minute. I see some more detail added on the posts -- Europe v. whoever in a US court system. Not so good. How much are we really talking about -- in US Dollars?