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Thread: Professional Debt Collector for signed IOU

  1. #1
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    Default Professional Debt Collector for signed IOU

    Anyone know of professional whom can help recover IOUs, i need to recover a personal loan so looking around for a professional. I am done chasing for my IOU from a contact......mmmm come to think of it....once i recover the IOU i might be able to get 4 more cameras DSLR or maybe a good lens.....hahahaha.....so anyone knows of good contact ...let me know.
    Last edited by cqprime; 11th December 2008 at 11:11 PM.
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

  2. #2

    Default Re: Professional Debt Collector for signed IOU

    Look in the Yellow pages listings under 'Debt Collectors'.

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    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by Dream Merchant View Post
    Look in the Yellow pages listings under 'Debt Collectors'.
    I did but i got reply from a legal firm and they expect me to put in 1000 deposit. mmmm
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

  4. #4
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    Default Re: Professional Debt Collector for signed IOU

    go to a ah long.

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    Default Re: Professional Debt Collector for signed IOU

    Seriously its not very useful...doesn't mean you hire a PROFESSIONAL debt collector means you'll definitely get your money back.

    They only can "harass" the target repeatedly within legal means until they buay tahan and yield.

    Anyway...1k deposit is crazy.
    Dun blame the camera...blame the one behind the viewfinder :bsmilie:
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    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by tkbonz View Post
    Seriously its not very useful...doesn't mean you hire a PROFESSIONAL debt collector means you'll definitely get your money back.

    They only can "harass" the target repeatedly within legal means until they buay tahan and yield.

    Anyway...1k deposit is crazy.
    Ya lor....nah i dont think i will put in any money...if the pro can get back 4k i dont mind paying them 20% or more ....i dont care i just want some money back
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

  7. #7

    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by cqprime View Post
    Ya lor....nah i dont think i will put in any money...if the pro can get back 4k i dont mind paying them 20% or more ....i dont care i just want some money back
    Well if the debt is 4K ... 20% or more ... could easily end up to be $1000 already ....

    Anyway ... interesting thread ... Just so happens I am also looking for a professional debt collector to settle some of my "bad debts" ... so-called friend who borrow money and have no intension to return.

    Have you tried the Small Claims Court with your IOUs?
    Touch the Moments ... Hold the colours of Joy

  8. #8

    Default Re: Professional Debt Collector for signed IOU

    Check with the different companies. Usually, they have different schemes which basically works out to being either low or no deposit but very high cut, or high deposit and lower cut. A lot depends on how water-tight your case is, and what resources the debtee has access to/job position/type of company/house etc.

    Note: None of them will accept a case without fool-proof documents like signed IOUs etc.

  9. #9
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    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by Long Thai Bean View Post
    Anyway ... interesting thread ... Just so happens I am also looking for a professional debt collector to settle some of my "bad debts" ... so-called friend who borrow money and have no intension to return.

    Have you tried the Small Claims Court with your IOUs?
    I also have some bad debts that I hope to get back and would like to get any debt collector's help too. My debtor is a hard nut and always claims to have no money... but I know at least his wife has money cos she has an ok job and saves her money. If anyone knows of ah long type debt collector, I dun mind enlisting their help too. Pls PM me.

    I have checked out Small Claims... they cannot help you for personal loans. I have also checked with police... also cannot help for personal loans. For personal loans, debt collector seems to be the only way. Sighhh.....
    The best photographer is one who is inspired by the innate nature of his subjects.

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    Default Re: Professional Debt Collector for signed IOU

    post photog wanted in service section and then ask the photog to keep taking the person's pictures until he/she gets fed up and pays you. shoot in public place legal right? i'm sure there's a lot of FREE photogs around.

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    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by jacob View Post
    post photog wanted in service section and then ask the photog to keep taking the person's pictures until he/she gets fed up and pays you. shoot in public place legal right? i'm sure there's a lot of FREE photogs around.
    This will not work. You have no idea how hardcore these refuse-to-pay-debts pple are!!! Taking photos of them will do nothing to make them pay man... And their skin is super thick wan!!!
    The best photographer is one who is inspired by the innate nature of his subjects.

  12. #12

    Default Re: Professional Debt Collector for signed IOU

    Take inspiration from Jack Neo's movie "Ah long pte ltd" .... go whatever that person go .. and tell the whole public (sing songs or act) that how bad and mean that person is. make a sense and make he "malu" ..... hehehe ...

    But really .. debt collector really work? cos if a person really hardcore don't want to pay... do the debt collector do extreme measure?

  13. #13

    Default Re: Professional Debt Collector for signed IOU

    I have much experience with those legal debt collection companies as well as those gangster-type debt collectors in the past. Tell you my experience:

    In Singapore at least, because of the strict laws protecting the people, debt collectors are useful only if the debtors are still financially viable, and his business or employment is still operating. But if the debtor has really reached a stage where he is already a "gone case", then dont waste your energy to go after him, just treat it as bad debts and bite the bullet.

    Before 1990, those illegal debt collectors are very useful and effective. They used very creative, inhuman and illegal means to squeeze and force the debtors to pay, without any regards to the health of the debtors. But that was the past. Now even ah long also knows the limit of the actions and consequences, and consequently they are no more 100% efficient in the collections.

    The other legal means are thru lawyers, etc... but usually if the debtors are really broke, these legal means are not effective at all.

    Check your debtors and do some PI works yourself to save some costs and if he is still doing normal business or employment, then approach the collection agencies if you do not have the time or guts to follow up. Normally they want ard 30% -80% (including expenses, etc) depending on the SIZE of the debts.

    Usually we would write off the debts if we know that the debtors are REALLY in very bad situation thru communication with him or his family members. But in the event when the debtor is very rude and unreasonable, I would have to engage these rascals to force him to pay, even to the extend of paying up to 100% of the debts to these rascals just to see justice done. Usually they will send 2 or 3 ugly looking but friendly brothers to hang around him the whole day .... that's not illegal at all if they can show the police that they are collecting debts and they have not broken any laws 100% effective if he still have monies to pay you.

    Good luck!

    Quote Originally Posted by WuffRuff View Post
    I also have some bad debts that I hope to get back and would like to get any debt collector's help too. My debtor is a hard nut and always claims to have no money... but I know at least his wife has money cos she has an ok job and saves her money. If anyone knows of ah long type debt collector, I dun mind enlisting their help too. Pls PM me.

    I have checked out Small Claims... they cannot help you for personal loans. I have also checked with police... also cannot help for personal loans. For personal loans, debt collector seems to be the only way. Sighhh.....
    always the Light, .... always.

  14. #14
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    Default Re: Professional Debt Collector for signed IOU

    i ever once issued a IOU to one of my so-called secondary sch friend...heng ah managed to get the money back but i keep my distance away from him.
    once you lend them money, they always tend to approach you for help, is a never-ending money lending cycle...

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    Default Re: Professional Debt Collector for signed IOU

    amazing! there're so many people in CS with bad debts.

    it sucks to lend people money.

    anyway, hope all you people get your cash back asap.

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    Default Re: Professional Debt Collector for signed IOU

    i have a bad experience. i didnt wanna psot it but i saw thsi thread. i plan to confront him tmr again if he doesnt i guess have to take action. he is from CS and he say gt lens lobang so ask me find buyers. agree 30% comm of profit.. after selling one lens which i got $50 comm, the next similar lens i sold he claim HK dollar increase and that $50 now is $15 so i say nvm. he owes me 2mths of debts and everytime i ask him over msn he will say blame economy etc etcand than when i say i need it for stuffs like filter and new bag he will say tat amt nt enough to cover all these. by right both lenses i managed intro customers to him, comm should be ~ $100 now now he tells me $15 for one and the other he havent calculate. 2mths already.

    even when we go shoot he acts like nth happens. now why is it WORKING adults can be so calculative abt >$100 amt and also i loan him my FM2 once and i HAD To go to his house to collect it back.

    any idea how to go abt it? i am a student and doing this for some small pocket $$. once i even took a cab down to meet the customer and well this is wad i get. i shall contact him again tmr if he doesnt i guess i have no choice but i release his name so everyone can be wary of him.

    to TS i feel for u except mine is a much smaller sum.

    can HK dollar drop so much that SGD $50 become $15???

  17. #17
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    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by Long Thai Bean View Post
    Well if the debt is 4K ... 20% or more ... could easily end up to be $1000 already ....

    Anyway ... interesting thread ... Just so happens I am also looking for a professional debt collector to settle some of my "bad debts" ... so-called friend who borrow money and have no intension to return.

    Have you tried the Small Claims Court with your IOUs?
    I read that Small claims does not deal with IOUs, keep me updated if u do come across someone whom can be hire to do the work legally.
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

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    Default Re: Professional Debt Collector for signed IOU

    Quote Originally Posted by WuffRuff View Post
    I also have some bad debts that I hope to get back and would like to get any debt collector's help too. My debtor is a hard nut and always claims to have no money... but I know at least his wife has money cos she has an ok job and saves her money. If anyone knows of ah long type debt collector, I dun mind enlisting their help too. Pls PM me.

    I have checked out Small Claims... they cannot help you for personal loans. I have also checked with police... also cannot help for personal loans. For personal loans, debt collector seems to be the only way. Sighhh.....
    Thanks for the info on smalls claims and police...i not yet approach the police yet...since u say no use then we hv to find other means....wow i did not know so many CS members hv bad debts....guess we can go find the professional debt collector together to get a discount lol and we go drink kopi once we get our money back
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

  19. #19
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    Default Re: Professional Debt Collector for signed IOU

    Thanks for your insights on this matter, indeed i am not a heartless person to chase someone whom is at his end.....the problem is that joker is still enjoying life...shopping....going out and worst thing the debt is not entirely mine.....this joker loan money from my gf....whom usually ladies are kind hearted....problem is when my gf cant get money back....her frustrations become my problem....so well been the good bf....go down with her to understand the "JOKER" problem...blah blah blah promise by him .....then now its been months and well back to square one....again so well i think enough of the JOKER problems....is not mine....Time to get tough to idle and liers whom take people for a ride.....

    Could you PM me the Debt collector as the joker needs to be taught a lesson as not everyone is a ANGEL.....even though christmas is coming.


    Quote Originally Posted by Canonised View Post
    I have much experience with those legal debt collection companies as well as those gangster-type debt collectors in the past. Tell you my experience:

    In Singapore at least, because of the strict laws protecting the people, debt collectors are useful only if the debtors are still financially viable, and his business or employment is still operating. But if the debtor has really reached a stage where he is already a "gone case", then dont waste your energy to go after him, just treat it as bad debts and bite the bullet.

    Before 1990, those illegal debt collectors are very useful and effective. They used very creative, inhuman and illegal means to squeeze and force the debtors to pay, without any regards to the health of the debtors. But that was the past. Now even ah long also knows the limit of the actions and consequences, and consequently they are no more 100% efficient in the collections.

    The other legal means are thru lawyers, etc... but usually if the debtors are really broke, these legal means are not effective at all.

    Check your debtors and do some PI works yourself to save some costs and if he is still doing normal business or employment, then approach the collection agencies if you do not have the time or guts to follow up. Normally they want ard 30% -80% (including expenses, etc) depending on the SIZE of the debts.

    Usually we would write off the debts if we know that the debtors are REALLY in very bad situation thru communication with him or his family members. But in the event when the debtor is very rude and unreasonable, I would have to engage these rascals to force him to pay, even to the extend of paying up to 100% of the debts to these rascals just to see justice done. Usually they will send 2 or 3 ugly looking but friendly brothers to hang around him the whole day .... that's not illegal at all if they can show the police that they are collecting debts and they have not broken any laws 100% effective if he still have monies to pay you.

    Good luck!
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

  20. #20
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    Default Re: Professional Debt Collector for signed IOU

    Bro no point dealing with someone whom cant keep promises...even with a contract written out u are wasting ur effort...i would suggest you find another source of income from a more reliable partner to work with.

    Since u are a student, dont neglect your studies and end up getting bad grades...:-(


    Quote Originally Posted by bigbird17 View Post
    i have a bad experience. i didnt wanna psot it but i saw thsi thread. i plan to confront him tmr again if he doesnt i guess have to take action. he is from CS and he say gt lens lobang so ask me find buyers. agree 30% comm of profit.. after selling one lens which i got $50 comm, the next similar lens i sold he claim HK dollar increase and that $50 now is $15 so i say nvm. he owes me 2mths of debts and everytime i ask him over msn he will say blame economy etc etcand than when i say i need it for stuffs like filter and new bag he will say tat amt nt enough to cover all these. by right both lenses i managed intro customers to him, comm should be ~ $100 now now he tells me $15 for one and the other he havent calculate. 2mths already.

    even when we go shoot he acts like nth happens. now why is it WORKING adults can be so calculative abt >$100 amt and also i loan him my FM2 once and i HAD To go to his house to collect it back.

    any idea how to go abt it? i am a student and doing this for some small pocket $$. once i even took a cab down to meet the customer and well this is wad i get. i shall contact him again tmr if he doesnt i guess i have no choice but i release his name so everyone can be wary of him.

    to TS i feel for u except mine is a much smaller sum.

    can HK dollar drop so much that SGD $50 become $15???
    5D MKII,1000D,16-35mm f/2.8 L USMII,75-300mm,18-55mm,EF 50mm f/1.8 II,EF 85mm f/1.8 USM

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