Business Debt, Collections debt collector

[Megz]

When someone owes a debt and there are past due, what would I say to the person that owes the debt ?

 

[army judge]

When someone owes a debt and there are past due, what would I say to the person that owes the debt ?

You simply ask the person, "Hey, Bob, remember that $200 I loaned you? Well, you agreed to repay me last Friday. Bob, I really need that money. Have you got it on you now, Bob?"

Bob will usually lie and say he doesn't have it. Bob knew enough to ask you for a loan, and he hasn't forgot. He never planned to repay you.

This is why you never loan anyone money. You give them the money, or you simply say, sorry, I don't have any money either, Bob.

So, you can forget the loan, like Bob has done. Or, you can waste more time chasing the deadbeat in small claims. You'll probably win, but then you'll lose again trying to collect the $200 from the deadbeat, Bob.

Good luck.

Remember the famous words spoken by Polonius (from Hamlet Act 1, scene 3):
Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.

 

[Betty3]

You tell the person the debt is due. If the person will not pay, you can try suing in small claims court if the amount qualifies. It helps if you had a loan agreement in writing. Even if you win in court, you might still have a problem collecting your money due. The court doesn't collect it for you. Good luck.