Pros and cons of legal action against debtors?

Answer 1

If it's a small amount, you can take it to small claims court. But, even if you get a judgment, in most states it's virtually unenforceable. If the debtor doesn't pay the judgment, you can keep dragging him back to court - but without debtors' prisons, it won't do much good.
If it's a larger amount, you'll probably have to hire an attorney, who will take 30%, 40%, 50% or more (and will try to steal even more if he can get away with it).
Write off the bad debt and be more prudent in the future.

Answer 2

think of the karma you will create not only for yourself but also for the debtors and your family, friends and neighbours and the debtors' too.

the better way is to contact the debtor and arrange an instalment plan for the debtor to follow as close as possible to repay the debt.

nobody is perfect. if 1 day you become a debtor, what will you hope for? someone to listen to and lend you a hand, right?

put yourself in other peoples' shoes if you want to be kind to yourself too.

karen ng beng hong admirer

Answer 3

Get an answering machine, turn off the ringer and only pick up if you know the number. I used to play with them, and just laugh into the phone when they called but I dont have time for that anymore. I live in a state where they cant garnish my wages though, its funny to hear them threaten to do so, they get sooo mad when I know my rights and Ive had many of them start cussing or threaten to give out my personal info.

Answer 4

there can only be pros.. without legal action against debtors, how can there be any safeguard against people who are out to cheat money lenders?
just look at how loan sharks are forced to take illegal means to get their money back, compared to banks who can normally write off defaulted loans as bad loans because they ge tbeack most of their loans with interest and penalties.

Answer 5

pros - maybe get the money back
cons - costs money