One of our co - worker cried about his family problems like mother's ill health, son's education etc etc and asked a good amunt of money as help on returnable basis.
However, after getting his share of help, he became unresponsive and slowly it is turning into bad debt.
The worry is the change in our perception to help other people bcos of his bad habit of not paying the dues on the time. Hence to safeguard self, this question.
We have decided not to argue, ask and confront him.
2006-10-06 06:40:53 · 4 answers · asked by Anonymous in Business & Finance ➔ Corporations
How to collect? IMHO the best way is to take him to court. You'll have a stronger case if he signed a promissory note or similar written evidence of the debt.
How to avoid in the future? Check people's credit, make them sign a promissory note with a specific repayment schedule, maybe get a cosigner or collateral. Or simply make a "no personal loans" rule. Or don't make personal "sympathy loans" unless you are willing to lose the entire amount.
2006-10-06 07:45:34 · answer #1 · answered by Kevin E 2 · 0⤊ 0⤋
Wow you have an interesting question! Have you thought of asking a lawyer? Probably worried about the cost? What if I can get you unlimited contact with a lawyer for personal and your business questions for less than a 3 dollars a day? I can help you and your business.
http://www.biz.darrenhale.net
2006-10-06 07:20:45 · answer #2 · answered by Darren Hale 2 · 0⤊ 0⤋
i use caller id but if i accidentally answer the phone i have a weird last name and if they mispronounce
i just hang up
2006-10-06 06:44:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you need to take advice on how to recoup your money.
If somebody legal comes to your home for money,theyshould carry id which you will be able to check.If they are legitimate they will wait while you check their id
2006-10-06 06:45:15 · answer #4 · answered by magiclady2007 6 · 0⤊ 0⤋