What would you do if someone owed you 2 grand?

What would you do if someone owed you 2 grand?

Collect interest?

How much? What if he says he doesn't have it?

Please guys. I don't want to overreact, but I also don't want to under react. He knows I'm not someone to fuck with.. I have muscle to go collect his things tomorrow if I decide it's not worth letting him run up a tab,but I'd rather maximize opportunity..

OK guys I'm going to see what he gives me tomorrow. If not I'm charging 10%. If he doesn't have it I'm repoing everything he owns. If he tries to stop me he will be fucked up. I'll probably just start with fingers.

forgive their debt

small claims court?

'repoing' is literally theft.

Depends on how long. The current risk-free interest rate from the US Government is about 1.8% per year. So maybe just a little more than that? If they make installments (i.e. coupon payments) you can keep them in debt for ever.

Haha I don't forgive shit. His ass is mine. Nah it's my shit by right. Plus he's not going to talk to any cops.

He knows how serious I am and what he's in for.

Send him a letter requesting $4000 repayment.
He will respond correcting you to $2000. Now you have legal proof.

Are you a loan shark?

Anything more than 9.9% is usury or mammon in most states.

This would be the most noble. I usually do not lend money. I gift it, and some times it returns.

If really op, kys. This is Sup Forums not ur personal blog where u talk tough

I don't have time to collect forever. I want my fucking money now. He tells me "you're being scary", but he knew he wasnt fucking with some little bitch. He's playing the victim card and giving me all sorts of stories. I want what's mine.

No letters.

Ya a shark.

Idc what it is.

I am who I am. No one gets over on me.

Yeah, but you would prefer a little of something, rather than all of nothing. Just collect $20 once a week from now until forever. This is how literally everyone else rents money.

20$ isn't worth me going to his shitty place though. Has to be 500$ or more. Time is money.

>claims to be a shark
>asks b how to his his job
yawnnn

He has something worth the total, but he will be upset if i take it and it's not ideal to burn the bridge with him. That being said he's testing my patience so we'll see how he plays it. If he dances around it again I'm just going to collect and never speak to him again. I really don't care about his feelings. His bitch ass was crying for like 20 minutes.

It's more complicated because he has other value. If he was just a regular John it would already be turned over and collected.

I'm going to bed. I need to rest. This shits not worth losing sleep over.

Ok simple. Tell your friend to take out a loan (like on a credit card) and pay you. Then he pays interest to the loan company and it becomes their problem.

What you are experience is default risk. Its something you need to take into account when lending (and everyone does this). That's why periodic payments are needed. It keeps both of you on good terms. You know he is still able to get money, and he pays back a little at a time.

Don't get mad about it. Lending is a gamble, and if you lose money, it has to be considered up front and factored into the price.

its a trash cash anyway

Show mercy and you will have a follower in your debt for life, show no mercy and what goes around will come around. You don’t know how much you don’t know, so organize something that will have a positive reinforcement rather than one where you leave a trail of shit to your own door. Your choice.

He probably can't get a loan.

Ya I know it's a risk. I'll work out an interest plan.
Thank you for your reasonable response.

It's not legal in all states, but he can also get a payday loan (very predatory, but easy cash) assuming he has a job. Credit card = ~17% interest, very few questions asked. Payday loan = 40% no questions asked. Banks usually give anywhere from 4 - 8% loans, so that would probably be best. Also, all three of these are already prepared to deal with a defaulter, and better than you are. Pass the buck, and get your friend to take out a loan.

If you want to burn the friendship, then yeah, do what says and take him to small claims court. They will garnish his wages (assuming employed) and pay you.

(aside: I lent someone ~7500 dollars and they only payed back about 7000. The last 500 wasn't worth my time to go after them in court, and they couldnt pay back any of their other debtors. Shit sux, but hey thats a risk I took).