Debt Collector ?

J

Jollieme

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I've been following the thread started by blunomore and deenadam re. debt collection. I have similar problem. Lent money to a friend (R25,000). She signed a loan agreement, stating the money will be returned in 1 month. Well, as you must have guessed, it's been months and she still won't make any attempt to pay (i know she can afford to pay).

I want to hand the debt over to a debt collector as she did not respond to my request to pay. The problem is, I have phoned some debt collection agent/company in Joburg, haven't managed to find one that deals with individual debt. seems like they only deal with corporate/company.

anyone knows debt collector in Joburg who deals with private loan? I prefer legal (registered) debt collector.
The debtor lives in Bryanston area.
 
Take her to court ffs. But be sure to claim for costs as well otherwise it won't be worth it. AFAIK, the agreement doesn't even need to be legally watertight as well which should work in your favour. Consult with a lawyer though - this isn't a case where a debt collection agency will give you the correct advice. This sounds like one of the few occasions where the ambulance chasers might come in handy...;)

EDIT: And fsck the friendship aspect - it aint a friendship anymore, and sounds like it never really was. Many people say that friends don't lend friends money, however if you do, real friends WILL pay it back timeously as long as they can afford to do so...
 
DJK, thanks for responding. It's not until after I lent her the money, I found out she is a 'retail therapy' addict. I guessed she simply used me.my mistake for trusting people too easily.

Have contacted an attorney a couple of days ago, the fee scares me. R1000/hour, and he said he can't guarantee a successful outcome. He won't even said if I have a good chance of getting my money back. aaaargh... this is so frustrating.

I really don't want to lose more than I already have. hence, the debt collector option.
 
I know some legal/registered bodyguards AKA debt collectors. Few broken fingers should do the trick.

But on a more serious note. Why not take it to the small claims court first. You can handle everything yourself and maybe that'll be enough to scare her into paying the money. No need for big guns to come out..... Yet

EDIT:SCC
 
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SCC won't deal with a R25k debt...

Do as DJK States, take her to normal court.... attach the costs... its about the only way you'll get the money back, and unfortunately you've learnt a valuable lesson.. Never lend money to anyone, even friends.
 
Sorry I totally forgot about the limit. Hence Small claims.

Havent had my coffee yet.
 
Let this be a lesson to everyone. Do not lend money to anyone, including your friends! That's what banks and loan sharks are there for FFS!
 
APoc84
Are you serious when you said you know some registered debt collector in joburg? feel free to PM me if you want to share their company names.

If I wasn't so stupid lending her that much money, I probably will have enough to hire an attorney...hehe.
some people mentioned about negotiating a contingency fee with the attorney, but none I contacted is willing to do that. None is even willing to tell me the chance of a successful outcome if we go to court.
(I know I can't expect the attorney to guarantee anything... but will be nice to hear something positive for the amount of money I will have to spend up front on attorney)


Plan to try the debt collector 1st, then if not working....might have to hire an attorney...(***ouch*** it even hurts just to think about paying the attorney)

ah..expensive lesson indeed.

just curious... if you are in my shoes. will you give debt collector a try? or, will you just forget about the whole thing?
(well, i know, you'll say: I won't lend the money in teh 1st place!..hehe)
 
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Jollieme said:
Have contacted an attorney a couple of days ago, the fee scares me. R1000/hour, and he said he can't guarantee a successful outcome. He won't even said if I have a good chance of getting my money back. aaaargh... this is so frustrating.
Click to expand...
How likely is it that she will even defend the case? Is she the sort of person that will risk thousands of Rands to try to avoid paying the debt?

You should phone around and talk to multiple attorneys to get an idea of fees. Also check with your local law society as I think they have an arrangement with some attorneys to give a half hour first consultation for free. I think it is Law Society of the Northern Provinces or something similar. This will allow you get some input on the case without risking any money.
 
R1000 per hour is extreme and probably is relevant for time in court only. Theres a whole process to go through before you even get to court which shouldnt cost more than maybe R2k anyways. This is the required letter writing, demands, threats etc. You dont just sommer go to court.
 
noxibox, this girl won't hesitate to lie, she is very good in manipulating people. every time I mention the debt, she acted hysterical, like she gonna faint or something. Then, she will give me all sort of excuses.

I have asked around for attorney's fees in the last couple of weeks, R500/half hour seems to be the going rate. some even quoted me R575/half hour (excl. VAT!!!).

Freshy, none of this attorney i contacted clarify whether that R1000 fee is for handling litigation, or also for other task. I found it quite difficult to get information from them (with regards to terms and condition, and also on the viability of the case).

Most attorneys I contacted seem to have the same approach: they want you to sign the client agreement 1st before they give advice on your case. they don't give much info on free consult.
(and I thought...mmm... how can I appoint and pay someone upfront without knowing if they can help me).

After asking a couple of attorneys, it feels to me that their attitude is: i'm the one who need them, they don't need me/my case.
That's probably why they don't bother trying to convince me they can help me.

the last thing i want is, appoint an attorney, pay the deposit..and then he advises me that the case is not good enough due to bla bla bla...
before I talked to those attorneys, I was pretty confident that my loan case is a clear cut case. But, since none of the attorney is willing to give me assurance that this is a viable case...I became confused.... (*_*)
 
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Maybe the fees are way different in Durban but Im always at the lawyers (well, often enough) starting legal sheet with people who cross me and Im telling you its bloody cheap until you get to court. Thing is if they are in the wrong they generally buckle before court even if its on the steps of the courthouse.
 
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