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It is very difficult to recover your money from a debtor especially when you did not have collateral to that particular loan that you gave to a debitor
It is very difficult for an individual to recover his own money from 880 especially if he did not collect collateral before giving that individual loan.Things have become so tough that no one is actually willing to let go of the little they have all in the name of borrowing. And in most cases does you borrowed can be very difficult when it comes to paying back. And some of these people might actually borrow you what they would make use of later on, expecting you would pay back on time
I believe this is exactly why most people go all they way in bringing in a lawyer to witness and also sign a legal agreement before they give out a loan. This would give them the right to take any form of action if their money is not paid back to them.It is very difficult for an individual to recover his own money from 880 especially if he did not collect collateral before giving that individual loan.
You have no protection if you are a private lender because you are not registered with the government. The usual way of getting back payments for a debt is to threaten the borrower with something that would affect his reputation or would affect his family.It is actually a very bad experience that people go through just to collect their own money. The sad thing is that the law is designed to protect the debtors more.
It is so sad indeed. Most debtors can get away with your money without the law doing anything about it. Especially if you never insisted for a contract to be signed before lending them the money. In the end, you will not have enough ground to sue the person.It is actually a very bad experience that people go through just to collect their own money. The sad thing is that the law is designed to protect the debtors more.
It is very difficult most time to recover your money from a debtor especially when you did not get a collateral from the deptorIt is so sad indeed. Most debtors can get away with your money without the law doing anything about it. Especially if you never insisted for a contract to be signed before lending them the money. In the end, you will not have enough ground to sue the person.
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