Advice on debt collection is everywhere when you don’t need it, but as soon as you become blacklisted it may feel like no amount of tips can get you out of your fix. This is not true. If you have lent someone money and they have not paid you back in due course, there is a process that you should follow in order to get that repayment. The first step is to notify the person by means of a registered letter. This starts the formal procedure whereby they are no longer able to deny that they owe you cash. If the person still does not repay you, there are many other techniques that you can use, which are completely legal and should ensure that your loans are repaid promptly in the future.
This is not a mafia novel, and so the advice on debt collection will not involve machine guns or baseball bats. Instead, there are particular practical ways to ensure that the person who took loans from you repays the money to you. If you have already sent a registered letter to no end then the next things to do are approach a lawyer and go to the small claims court for tips on what to do. They will be able to help you with advice about how you can get the cash, even if the person is blacklisted or insolvent. The bottom line is that it is not your fault they are broke, and there are laws to protect you.
If you find yourself in this predicament then follow the law to the letter. You don’t want to be involved in any form of illicit activity because this will prevent you from getting your money back. Being blacklisted will be devastating for anyone, and if you don’t get your repayments it could just as easily be you. Don’t take the law into your own hands. Rather follow trusted legal advice on debt collection from a professional attorney.