How to collect money owed?

[Tim K]

The guy is in Denver and owes an out of state friend with a business north of $5,000. He's a well paid professional so he has it, he just won't pay because he can get away with it.

Are there any realistic things I can do to put pressure on this character?

[BigBear]

Civil suit is the only thing I can think of... legally. And even then it would take month and more money to file, blah blah blah....

Now illegally... PM me.


J/k

[TFOGGER]

Often, a phone call from an "attorney" is the only thing needed to nudge these deadbeats into paying, as long as it's a legal debt (not gambling, drugs, etc.). I've heard it's possible that you might know someone that sounds a lot like an attorney from the law firm of Dewey, Cheatham, and Howe.....[ROFL1]

[Mtn.man]

I have a couple uh freinds.

[Tim K]

I'm not interested in breaking any laws. This isn't my money and I don't care enough to jeopardize myself in any way. I wish I knew an attorney (I can't believe I just wrote that) I could ask to help.

[sniper7]

Why don't you go knock on his door and tell him the money needs to be paid or the police will be called?

[Mtn.man]

An attorney will get about 1/3 of that..

[BigBear]

how much is his car worth?... just saying.....

[Mtn.man]

here's a fellow AR enthusiasts # he's an attorney

Brian Herbert
303-816-9493 maybe he could help

[Delfuego]

You can legally submit a 1099 for this person to the IRS. If you can get the persons personal info you can submit a 1099 to the IRS for wages. The reason you can do this, is because they are technically taking wages away from your friend, and now these earning have to be someones. This means that the person who has not paid your friend now has $5k in unreported earnings.

I had a friend with a business who was stiffed $30K (by a guy with a lot of money) that was able to do this. The other party was pissed. He never got the money, but was able to tranfer the tax burden to the other person, and claim the loss for the business.

Good luck!

Next option is the "old fashion" money collection process [Kick1]

[newracer]

What is the debt for? A lien could possibly be filed.

[Great-Kazoo]

slap a lien on him. it's easy and works.
what well off business is he in, or own, location of business and home addy always help.
you're going to need some form of documentation to back up the money owed claim, for legal reasons of course.

[Mtn.man]

Yeah liens only work if you renew them (costs you), and I once owned a pc of a closed casino in Central City. lien never was satisfied.

[newracer]

A lot of the time the debt is paid when they receive the intent to file lien letter.

[cowboykjohnson]

you could go to court about it, and if he doesn't show you get the money awarded. Then you have to go to a collection agency... in the end you get about 1/3 of what is owed.

Liens also work well like previously stated.

[Great-Kazoo]

25% is my end if you want someone to go talk to him.
your only legal options will have you out of pocket cash wise. small claims court will get his attention, combined with a lien puts a damper in their credit.
FWIW

there is a lot of free info on line regarding people if you have a name and home address.

[rondog]

Ever seen the line of "Getting Even" and "Dirty Tricks" books by Ragnar Benson? Won't help get his money, but if your friend gets screwed it's possible to screw back.

[cowboykjohnson]

Threaten to shoot him in the knee caps...... never mind you said you didn't want to break any laws.

[GreenScoutII]

He could possibly file a mechanic's lein or maybe small claims court is another option. Maybe just hiring a lawyer to write a threatening letter would work.