How to collect debt from somebody?

What is the best way to collect debt from somebody? The amount is larger than small claims. Can debt still be collected if they have declared bankruptcy? Garnish future wages?

You can go after them criminally as well. Law enforcement does not look kindly on fraud these days. People tend to motivate when jail time is a possibility.

 

I'm going through the same shit right now as well. Its a big pain in the ass.

You can go after them criminally as well. Law enforcement does not look kindly on fraud these days. People tend to motivate when jail time is a possibility.

 

Good luck with that! Getting law enforcement off their ass for financial fraud is nearly impossible. In the last eight months alone I've handed the PD over $4mm in fraud on a silver platter and they won't do shit.

 

In sprites case from what he's posted, I can't see how a debt = fraud.

Good luck with that! Getting law enforcement off their ass for financial fraud is nearly impossible. In the last eight months alone I've handed the PD over $4mm in fraud on a silver platter and they won't do shit.

 

In sprites case, I can't see how a debt = fraud.

 

Fraud is VERY hard to prove, that's why they won't touch it. It's up to YOU to prove fraud in a court of law, and that will likely cost you more than the collection is worth.

 

Laws vary state to state. In NJ, above small claims is 'Special Civil', which I think goes up to about $100,000. It is much more formal than small claims.

 

I belive in NJ, if you have a judgement AFTER the person has filed BK, then your decision will stick...It's the collecting part that you will likely be chasing forever. Maybe try and get a lien on whatever property they have left?

Hired goons?

 

Mob way of doing things?

 

Sorry to hear about it. Good luck.

Hired goons?

 

Mob way of doing things?

 

Sorry to hear about it. Good luck.

maybe in Mexico not in the US.

maybe in Mexico not in the US.

 

 

yes in the US. Soprano's isnt just a TV show

Basically you have to sue them, and if they listed the debt on their BR schedules and obtained a discharge, you're probably out of luck. If they didn't list it, or if they listed it and you didn't have any notice of the proceeding, you still may be able to sue them.

Fraud is VERY hard to prove, that's why they won't touch it.

 

You don't understand, I provided the cops with the following:

 

1. Evidence of stolen identities
2. Said stolen identities used to obtain fraudulent mortgages
3. Fraudsters then finding homes and having them fraudulently over appraised
4. Buying said homes via mortgages obtained with stolen identities then cashing out $300k+ per each home

 

I gave them all the documentation, all the paperwork, all the bank statements, EVERYTHING just short of writing the actual arrest affidavit and they still haven't done shit.

 

Regardless, what's the nature of the debt Sprite? Just an unpaid bill or something else?

Deadbeats usually always win, if you can afford to let it go... do it.

 

Too many laws and lawyers protect shitty people and beyond that they usually dont have any money to give you at the end of the day anyway. Let it go and focus on making more money

 

Of course this is just my opinion having been screwed a few times already.

Deadbeats usually always win, if you can afford to let it go... do it.

 

Too many laws and lawyers protect shitty people and beyond that they usually dont have any money to give you at the end of the day anyway. Let it go and focus on making more money

 

Of course this is just my opinion having been screwed a few times already.

 

 

Exactly. I have a tenant who walked out on the remaining two years of a commercial lease (over $140,000). He offered to pay me $15,000 to settle and I told him to go fcuk himself. I sued, his company filed for bankruptcy and reopened the following week under a slightly different name (same name + of south florida). I got a nice bill from my attorney and never saw a penny from the mf.

Exactly. I have a tenant who walked out on the remaining two years of a commercial lease (over $140,000). He offered to pay me $15,000 to settle and I told him to go fcuk himself. I sued, his company filed for bankruptcy and reopened the following week under a slightly different name (same name + of south florida). I got a nice bill from my attorney and never saw a penny from the mf.

 

Call me naive, but I really can't understand how something like a signed lease agreement can just be walked over like that and you end up getting screwed. Is it really that easy to screw someone over? -1 For us honest guys.

So I am better off to let it go?

 

Basically I loaned a friend of mine 60k a few years ago. It was intended to be a short term loan, where he paid back the 60k + 9k 3 months later, but I never received any of the money back. His business went to shit shortly after the loan due to the economy. However, the loan was made as personal loan and the contract he signed states that he is personally liable. He might not be able to afford to pay back the whole thing, but I am certain he could at least manage to pay $1k/month.

 

I guess I will have to write it off as a lesson learned for later in life and just be glad it wasn't more money.

What is the best way to collect debt from somebody? The amount is larger than small claims. Can debt still be collected if they have declared bankruptcy? Garnish future wages?

 

 

As much as I will sound like a dick, 1st off if it was loaned out then you got what you deserved now you learned your lesson not to trust, next off I think you should talk with a lawyer and pay him or her for the time in this matter and follow the advice of your council. Based on all of the details provided on what is the best course of action is that will be best suited.

 

 

I'd suggest you be fully honest with your legal council this way he or she can give the best advice on all sides of the matter or might recommend you the best course of action.

 

 

Cash in hand now is better then 26 annual payments.

So I am better off to let it go?

 

Basically I loaned a friend of mine 60k a few years ago. It was intended to be a short term loan, where he paid back the 60k + 9k 3 months later, but I never received any of the money back. His business went to shit shortly after the loan due to the economy. However, the loan was made as personal loan and the contract he signed states that he is personally liable. He might not be able to afford to pay back the whole thing, but I am certain he could at least manage to pay $1k/month.

 

I guess I will have to write it off as a lesson learned for later in life and just be glad it wasn't more money.

 

Sorry to hear bro, how did you loan the $? Did you give him cash, wire, check? If you have paper trail it could help..problem is you may spend 2 or 3k just to get the process rolling..my suggestion offer the lawyer 25% or even 50% to get your $ back asap. At the end of day 50% better than 0%!

Sorry to hear bro, how did you loan the $? Did you give him cash, wire, check? If you have paper trail it could help..problem is you may spend 2 or 3k just to get the process rolling..my suggestion offer the lawyer 25% or even 50% to get your $ back asap. At the end of day 50% better than 0%!

 

 

thanks for the help but was responding to the OP message.

Sorry to hear bro, how did you loan the $? Did you give him cash, wire, check? If you have paper trail it could help..problem is you may spend 2 or 3k just to get the process rolling..my suggestion offer the lawyer 25% or even 50% to get your $ back asap. At the end of day 50% better than 0%!

 

I wrote him a check so there is a paper trail. I also have a document signed stating the terms of the loan.

 

I will probably just have to write this one down as a lesson learned.

Sprite, when you say "a while ago" what kind of time frame are we talking about? It varies state by state but there is a statute of limitation on filing suit over personal loans like this, SOL starts from the date of last transaction. If you want to play hard ball the clock is ticking.

 

Yes you can sue and if he didn't declare it in his BK you will get a judgment fairly easily. Yes you can garnish wages, usually takes a few months of screwing around and you can collect a maximum of 25% of his total pre-tax wages. The upside is (in CA at least) you can also attach 10% annual interest from the date of the judgment. The downside is if he owns the company he may be playing some games in regard to his "salary" so that $$$ could take some time to collect.

 

After the judgment you can also look at placing a lien on any property, file with D&B against his business, etc.

 

I guess it all depends on how hard core you want to get on this. I would try being reasonable with him first and see if you can work something out, partial payment up front via him giving you some tangible assets, etc.

 

If he did claim it in a BK, get the documentation from the court. You can possibly recover part of it as a bad-debt writeoff on your taxes if it's worth the effort.

 

 

On another note you're one hell of a guy! I wouldn't "Lend" many people $600 let alone $60k. As my dad told me years ago, if you ever decide to loan someone money just write it off as a gift up front and if you get it back in the end all the better.

Exactly. I have a tenant who walked out on the remaining two years of a commercial lease (over $140,000). He offered to pay me $15,000 to settle and I told him to go fcuk himself. I sued, his company filed for bankruptcy and reopened the following week under a slightly different name (same name + of south florida). I got a nice bill from my attorney and never saw a penny from the mf.

Just goes to show you how FKD up the system is..It's sickening.

Sorry to hear your story ,Mike.

As much as I will sound like a dick, 1st off if it was loaned out then you got what you deserved

You really do sound like a Dickhead. Nobody deserves to get screwed out of $60K.

Just goes to show you how FKD up the system is..It's sickening.

Sorry to hear your story ,Mike.

Some attorneys have no hearts..ever heard of charging to send and recieve emails? Only with Attorneys...

You really do sound like a Dickhead. Nobody deserves to get screwed out of $60K.

it wasn't just some random person it was a friend, so not sure he deserved it

Call me naive, but I really can't understand how something like a signed lease agreement can just be walked over like that and you end up getting screwed. Is it really that easy to screw someone over? -1 For us honest guys.

 

similar thing happened to us in August 09, the scumbag asked us to put roof vents in one week before he went under, as if he didn't know, I lost $100k, I am suing him now but it seems that I am throwing good money after bad, he sold his house to his son few months before, he's got nothing to his name, the new house, boat, car etc all under other family members names.

 

A contract is not worth the paper is written on and the law protects the scumbags, the only way to resolve this is Mafia style, if people are scared they going to lose an arm in the process they will think twice about ripping others off.

So I am better off to let it go?

 

Basically I loaned a friend of mine 60k a few years ago. It was intended to be a short term loan, where he paid back the 60k + 9k 3 months later, but I never received any of the money back. His business went to shit shortly after the loan due to the economy. However, the loan was made as personal loan and the contract he signed states that he is personally liable. He might not be able to afford to pay back the whole thing, but I am certain he could at least manage to pay $1k/month.

 

I guess I will have to write it off as a lesson learned for later in life and just be glad it wasn't more money.

 

 

I would say give him a good beating

 

A wise man once told me never ever loan money to friends or family... If you do, consider it a gift.

 

Most likely you'll have to chalk this one up to an expensive lesson learned.