Good day all. Just as the topic says, I'm planning of selling a nairalander laptop he uses as collateral..

Early last month, a nairalander was seeking for a loan of 50k to pay back 60k in two weeks time using his laptop as collateral. So i offered to deal with him and we entered an agreement that failure to pay back the 60k after the agreed two weeks will attract additional 5k interest every week, which he agreed and we made a video on it as an evidence. He has the video on his phone and i also have mine.

Now the problem is, the agreed two weeks has elapsed. As a matter of fact, this is the fifth week and he's not making any plan of returning my money. His numbers are not going. I chatted him up on WhatsApp and he said his phone was stolen etc. Since then, he has not said anything about the money.

The current price of his laptop online is 180k+ and even if i sell his laptop, i will still need to balance him up after deducting my 80k or 85k. Please advise me. I need the money to save a life. It's very very urgent. A life depend on that money.

Please your suggestion will go a long way... Thanks

Tell him you are about selling it..give some days if no reply then you can sell it..

Ernesttoby30:
Good day all. Just as the topic says, I'm planning of selling a nairalander laptop he uses as collateral..

Early last month, a nairalander was seeking for a loan of 50k to pay back 60k in two weeks time using his laptop as collateral. So i offered to deal with him and we entered an agreement that failure to pay back the 60k after the agreed two weeks will attract additional 5k interest every week, which he agreed and we made a video on it as an evidence. He has the video on his phone and i also have mine.

Now the problem is, the agreed two weeks has elapsed. As a matter of fact, this is the fifth week and he's not making any plan of returning my money. His numbers are not going. I chatted him up on WhatsApp and he said his phone was stolen etc. Since then, he has not said anything about the money.

The current price of his laptop online is 180k+ and even if i sell his laptop, i will still need to balance him up after deducting my 80k or 85k. Please advise me. I need the money to save a life. It's very very urgent. A life depend on that money.

Please your suggestion will go a long way... Thanks

use it as collateral to borrow 80k from another nairalander that has cash suplus. then when you finally connect with him you all can settle

5k every week on 60k

illicit:
5k every week on 60k

Trust me, it wasn't about the interest. I was more concerned about him returning the money after the agreed two weeks. I was just trying to make him return the money on time, hence i thought the every week 5k interest will make him pay up on time