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Debt Collection

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  • 17-02-2010 10:12am
    #1
    marshall11
    Closed Accounts Posts: 26 ✭


    Hi All,

    The sum of €9000 is owed to me, it is clear the individual does not want to pay this back in the slightest. Is there anything I can do? I have a personal loan agreement signed by him. If it was the case he turned around and said thats not my signature etc would I have anything to fall back on?

    Do debt collectors take on personal loans or just business loans? Need all the help I can get.

    Thanks, CM
    Tagged:


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    #2
    Reloc8
    Closed Accounts Posts: 2,857 ✭✭✭Reloc8


    You'd have to ask debt collectors, if that's your chosen option.

    I'd tell you to speak to a solicitor who will advise on the strengths of your case; if the person who owes is adamant they won't pay going to a debt collector is just paying money for letters which your solicitor will have to write again anyway.


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    #3
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Debt collectors have no legal powers or basis on which to collect a debt any more efficiently than you can.

    In carrying out their "duties", they will harrass and annoy the debtor, and in exchange will probably ask for a certain percentage cut, whether or not they actually manage to recover the debt. In the event that you end up in court anyway, it will look bad on you that you had an agency harrass the debtor for the money.

    Contact a solicitor and pursue the matter civilly.


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    #4
    marshall11
    Closed Accounts Posts: 26 ✭marshall11


    True, but this guy lives at homes his parents are not aware of the loan. So I reckon if they were to go to his home there would be some sort of solution put in place, I dont want things getting messy but dont have any other option at this point.


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    #5
    Tom Young
    Legal Moderators, Society & Culture Moderators Posts: 4,338 Mod ✭✭✭✭Tom Young


    Contact a solicitor.


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    #6
    CDML
    Closed Accounts Posts: 1 ✭CDML


    Marshall you could try a debt collector. They will make contact with your debtor, letters, phone calls personal visit etc. Agree a percentage up front on a no collection no fee basis. It can be quicker and cheaper than using a solicitor. At least you will know in a short period of time if your debtor has any intention of paying you.


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    #7
    blueythebear
    Registered Users Posts: 1,071 ✭✭✭blueythebear


    marshall11 wrote: »
    True, but this guy lives at homes his parents are not aware of the loan. So I reckon if they were to go to his home there would be some sort of solution put in place, I dont want things getting messy but dont have any other option at this point.


    I'd go to his parents first and let them know. If they have some money themselves they might be inclined to do the decent thing and bail him out and you'll get paid. If not, seek a solicitors advice. It's a significant sum of money. Debt collectors won't manage a thing but to aggravate the situation and make you look bad when you inevitably have to go to court anyway because they couldn't obtain the money.


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    #8
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    I'd go to his parents first and let them know.
    It's none of their business and you would have no business discussing his debt with them.

    As stated debt collectors have no legal powers and they do not undertake personal visits. All they will do is write a few letters which the debtor will simply use to light the fire.

    You are best off to see a solicitor with a view to issuing a civil bill.


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    #9
    drunkmonkey
    Registered Users Posts: 28,127 ✭✭✭✭drunkmonkey


    does a receiver appoint a debt collector, or do they use a different kind of debt collector?


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    #10
    argosy2006
    Banned (with Prison Access) Posts: 4,210 ✭✭✭argosy2006


    shouldn't have gave him money in first place, someone had to say it


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    #11
    Maximilian
    Legal Moderators, Society & Culture Moderators Posts: 5,400 Mod ✭✭✭✭Maximilian


    This thread has gone as far as it can go. OP if you think you are not going to get repaid, then you are going to have to seek professional legal advice.

    A debt collector can no more make him pay up than you can. Less in fact because you can take legal proceedings.


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