I rushed to this thread because am into this situation right now. Some people are ingrates, I wouldn't doubt it if some deaths are caused by people's ingratitudes....

babyfaceafrica:
Police and lawyer will gulp some cash and time.

Bro! Everybody suggesting lawyer do not know how stressful that one is.

Lawyer? Pray to see the one that is ready to work
The lawyer will charge per client, before he will file, before court will never give a date (which might even be adjourned) before the lawyer will serve each clients

Omoot

Jefferyhi86:
Hmm someone is owning a friend of mine 12million, he has only paid 500,000 almost two years, before you lend someone money they should use a valid property as collateral.. Una get mind sha, as for transport business, u giving ur car out must be strong at heart, dat business be like gamble

12M? How come

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

Go with hefty guys,then carry any of their properties that worth the amount they owe ,give them time they are expected to pay up ,failure to show with payment, sell them off !!no time

freeman67:
First of all, are you a registered money lender? If yes, take the person to court and he or she will pay both principal and interest. Infact he may even be asked to pay for the money spent on legal fees.

However, if you are not registered, the law has no much space for you. At most the borrower will be asked to refund you the principal.

Though not everyone is aware of such. So you can do is to go them physical to ask and be loud about it since gentlemanliness didn't work. Threaten them with the law. Like "you will use law enforcement to arrest them or sue them in court". Please in the process avoid sentences like " I will deal with you or I am going to deal with you".

Also, check the details of your agreement again and try rewriting smartly if it wasn't. If you are not registered, your agreement should carry something like a "friendly loan agreement". If it comes to the amount you are lending out, it should carry the amount you are expecting as refund. i.e if you are lending 90k to collect 100k in return, the amount to be written as money lent out and nothing like interest should show there.

Thanks a lot

THREATEN THEM THAT YOU WILL FVCK THEIR WIVES.

Oga this case is perplexing. Even if you go to court you may not win because you're no a certified money lender.


My opinion though

I relate very well because I am in that position too, I still have well over 1m with people telling different kinds of stories.
I collected original receipt of one yellow bus also one Keke as collateral to found out that they have butchered them and sold as scrap.

Some gave ran away from their original place of abode because of debts from different microfinance and lenders.

Some people are wicked from the pit of hell when it comes to borrowing money.

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

In the light of the law what ynu did was illegal. No individual has the legal right to lend anybody or group of people any money except a registered entity; like bank, cooperative or lending institutions. So, even if you were to approach the police they would require your licence.

AbelAbdul:
…….

I strongly advise against lending people money no matter how desperately they seem to need it. To recover your money in most cases is a stressful process that would almost require violence.

If you must then draw up a written agreement in which a valuable collateral owned by the borrower would change ownership as yours in event of default. Without this never proceed no matter what.

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

If the money is much ,involve police and that will cost you 250 to 400k (unofficial) ,.they will arrest,but make sure they charge the bohemians to court , immediately.But if the money is small just ,trust God.

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

Police can make arrest, then charge them to court for breach of trust, and obtaining money by force pretece.

The police is not obligated to recover debt, but it's a financial crime, they can arrest.


To get your money without involving the police however, you will get a good lawyer to write these your debtors, just meet a lawyer and explain to him/her.

Cheers.

This is the best way to get your money from anyone:

Get a very good lawyer

Instruct the lawyer that all you want is to sue the debtor.

Let's bet it? You will get your money plus damages the time the debtor wasted being in possession of your money.

This method works like magic.

Forget about police, they will collect percentage from the money and still connive with the debtor.[/b]

AbelAbdul:
Thanks. One of them is an Air Force two star officer.

If you have evidence of transaction, visit the guys office and meet with his boss if possible.
You kindly want your money back, maybe monthly deductions from his salary.

Have you heard about Justice Court, it is a special court that deal with civil cases like this. You can take them to Justice Court and you will get you money back asap

Agima1st:
Suit them to Small Claims court, if they are residence of Lagos. Read more about Lagos State, Small Claims Court.

They are not and I am not neither.

use Chinese style.

if u garrit do it

Juju

idiot use hoodlums

Don't involve the cops. Ever. Instead, get fine young men from the timber market to politely ask your debtors to pay back.

You people are still giving out loans to Nigerians in 2021??

Speak to a lawyer. I had a case recently where a lawyer I spoke to helped me recover money I've been trying to get since April. He said he called someone in debt recovery at cbn who placed a call to the debtor. The call was recorded for evidence incase the person refused to pay as she promised. The debtor eventually reached out to me and paid in full after just 2 days of me speaking to the lawyer.

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

See if you can borrow from their wives or call Efcc. Report them to Efcc!

OdefaGirl:


If you have evidence of transaction, visit the guys office and meet with his boss if possible.
You kindly want your money back, maybe monthly deductions from his salary.

I have

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

My brother just forget about more than half of that money because more than 50 percent of your debtors have already made up their mind not to pay you back while another 20 percent have got the willingness to pay but the Nigerian laicadesical attitude towards lone won't make Dem pay back.
In case of next time don't give more than what you can't forego as lone especially without collateral.

Call agberos

AbelAbdul:
Thanks for your advice. I appreciate

Op pls for ur peace don't give loans. I helped somebody being owed almost 5 million naira to take a case to the AIG office in Benin guy it was only 500k that came out the rest is history till date. Even this person was given landed documents but later found out they were fake people are dubious this days ooo so loaning is at ur own peril. I had the connections but even a senior lawyer then advised us to let the matter be because going to court will worsen the it and if u use thuggery on intellectual people they can sue u so in every way it doesn't favor u. Someone can owe u 3 million take the case to court and the person says he can only pay 10k per month when will ur money come in. Seek better advice on businesses transporting is good only if u can monitor it strongly or u have a manager who monitors it strictly

Serve them a letter from a shrine ..they will pay

best way to collect your money back from who you borrowed money is to act like a mumu, because those people normally acts as if they are king whenever they are owing money

Ogbeni go and get a lawyer.Your lawyer should be able to handle this case for you. By the way,are you a licensed money lender?

OPC