Our client had lent this amount to a friend, who needed it urgently to cover his mother’s hospital bills. Due to their long-standing friendship and the urgency of the situation, our client quickly agreed to the loan. An informal agreement was made that the loan would be repaid in full within 8 months.
After the 8 months elapsed, our client attempted to contact the debtor for the debt. However, he refused to answer phone calls or respond to messages. When our client visited his home to request repayment, the debtor avoided him, making various excuses and even refusing to open the door.
Not knowing what else could be done, the client approached JMS Rogers for help. Through our investigations, we verified the case and confirmed that there was concrete evidence of the loan, including the informal agreement and communication records. Therefore, we made field visits to the debtor’s home to ask the debtor to pay for their debt. He was unwilling to pay, refusing all sorts of communication, but our team still carried on conducting multiple field visits to his residence. We aimed to address the debt directly and emphasize the seriousness of the situation. After persistent efforts and several visits, the debtor acknowledged the debt’s validity, as he also knows he cannot escape all the legal evidence in place. He agreed to come up with a repayment plan and subsequently repaid the full amount over the next 5 months.
What can we learn from this:
- Having concrete evidence and documentation of a loan is crucial for enforcing repayment, especially with informal agreements.
- Engaging JMS Rogers, a professional debt collection service, can provide the expertise and resources needed to handle challenging cases effectively.
- If you decide to borrow money from friends in need, always remember that there is always the possibility that the money loaned may be difficult to get back.
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