Here's the deal. I loaned a younger guy some money and it has been almost four years and he hasn't paid me back. It's a fairly significant amount. He has made all sorts of promises and come up with all sorts of excuses but I still haven't got my money.

I fighting with every fiber of my being to not make a post on FB addressing him by name. First name. I'm a Shakespeare fan and know what he had to say about being lender or a borrower. I should have trusted my gut but I was trying to help the guy out.

Thoughts?

That may be illegal to publicly shame him. Check your laws.

Legal action is much better.

can i get a loan.

I doubt you can shame him. Did you put your agreement in writing or was it an oral agreement? Take him to small claims court.

I was going to use his first name only.


No. Maybe.

No, it was verbal. I'd had loaned him money before and though he was slow to pay me back, he eventually did. Something told me not to loan him money again but I went against my instinct.

Is his first name nafa?

I'm not alone it seems.

Keep showing up and get whatever he has available until he pays you back in full. Don't make any verbal threats or do anything illegal, but make him uncomfortable. Crowd him, get in his personal space, breathe in his face. Ask for your money loudly in front of other people. Embarrass him. Usually after a few visits people will just pay you back.

When I had my security company, we had a night club never pay us. I found out later that they never paid the 2 companies before us or the one after us either. I went to the club owners office on a Monday, just walked in, sat down, put my feet on his desk and just started talking about my recent trip to Sicily. He gave me all the cash he had on hand. I came back a week later, walked into his office, put up my feet again and he immediately gave me the rest of the money.

I had another club owner, have a club fail. He also had an English food store and a vacuum repair and sales shop. I would just barely walk in the door and yell out if, Shelley, the owner, was in. I would then loudly ask from a distance if he had any money for me. I always got some amount of money from the owner. He owed me a little over $3900.00. It took close to a year, but I got my money plus a fair amount of interest.

Keith

Public shaming is tempting, but it’s probably not going to be productive. If your goal is to get your money back, then start working on that. IMO there are 2 productive things you can do, besides being persistent like Keith said.

1) take collateral. Show up, ask him if he has money for you. If not, ask him what he’s got instead. Power equipment; ATVs, firearms, etc all make decent collateral. But a couple notes of caution: make sure he owns whatever it is he gives you (not somebody else’s stuff), and make a written bill of sale. If you want you could do it like a pawn shop and give him a deadline to buy it back, but you don’t have to, and you should have the title transfer/bill or sale regardless.

2) Take installments. He might never have the money to pay you in full at once, but he probably has some money week to week. Show up every week for a payment, or find out his pay schedule if you can and hit him up every payday for $100 or whatever you decide he can afford. Keep track, and tell him how much longer he has to pay you back. He might get tired of it and make larger payments. Good luck

Id take it before Judge Judy if I was you.

pay a crack head to follow and annoy him 24/7 ti he coughs it up.

First of all, why did you let it get to this? 4 years?
The only advice I have is a come to Jesus meeting, but not so bad that he can’t work.

She's retired and campaigning for Bloomberg until November.

Thanks for the input from all of you. It is going on four years. He told me last December he'd have it to me no later than June, possibly July. It's been that way almost from the beginning. I don't think I really started pestering him until a year had gone by.

We have several mutual friends on FB and I was thinking drawing it out in public without definitively putting a name to him might give him the motivation to pay me back.

We will find out Tuesday evening, but I'm betting bloomberg will drop out after Tuesday,and Judge Judy can go back to her day job again.lol

My wife is from Colombia and she was telling me about a novel debt collection service that they had there. They were called "Chepitos". They were generally young college aged men who always dressed in black tuxedos with black top hats. They always worked in pairs.

They went to your private residence or place of employment and stayed there all day every day until the debt was repaid. It worked very well because of the public nature of it and everybody recognized you were a deadbeat. (Plus they worked for cheap). However, during the Pablo Escobar years a lot of the debts were drug related and Chepitos were getting killed so the practice kind of came to a stop.

People have a tendency to worry to much about the feelings of the people who wronged them. Probably most people are embarrassed to ask for what they are rightfully owed. The longer the debt goes on the less likely you are to ever get repaid. When dealing with somebody, like the young man who screwed you, who it sounds like has not paid you anything back, you need to harden up some. It needs to become more of a hassle not to pay you then it is to just keep putting you off. Everytime you see him, he should be legally pressured to give you at least something. You need to make him uncomfortable since he obviously is not motivated by doing the right thing.

He is not your friend or a decent human being, don't treat him like one.

Keith

On the bright side...the deadbeats usually won't come back to ask to borrow more!

You are going to have to get informed about the law in your state. A lawyer might meet with you for free to give you some legal advice, but do not go in with a bluff as this kid will call it.
Just so you get this, he does not respect you, and knows you are a soft touch.
The scenario in this is you probably talk to the lawyer, you send junior a certified letter which he has to sign, which would read he has 30 days to pay the amount in full or he will be taken to claims court, for which he will be liable for court costs and attorney fees, and which will publish his name in the paper as it is a court filing. Do not expect your to get anything as the court will only rule, but that is the process and in that, you may be able to collect.

This last part is important. DO NOT TAKE ANYTHING FROM HIM, I do not mean stealing, (that too), but these people usually as a last resort stick some sucker with something they have, which they do not have paid off, and what you will then discover is you will be paying that thing off as you are liable for it. We had a neighbor in a guy owed him money so they agreed to take a corn head off a combine. Turned out the guy owed 13,000 on it. So the farmer got stuck with the debt, never was paid what was originally owed.

Look we all learn the lesson sooner than later that people are horrid. I could name a real piece of work in Mississippi, who caused me all sorts of financial problems, but public naming does nothing. You either have to take them to court or just realize that EVERYTHING goes in writing and you still do not loan money to people, as it usually turns out bad. You just paid for a human life lesson.