AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

SportsHD:
Sometimes, I don't blame sokoloan and others from what they do. Some people don't and wouldn't want to necessarily pay until you start threatening them. I guess, you didn't know the rules of being a money lender in Nigeria.

You need to be fierce. Anyone that defaults, carry men, go mend mend the defaulters body. So that other people would know how e dey be. And, you'll have to have the backing of the highest of the highest hierarchy in the police system. So, all can go in Peace.

Dm me if you want me to arrange boys that'll enforce payment for you. You wouldn't have to worry about not getting your payment.
Just kidding though.
Life is eazy.

To maintain your peace of mind, avoid lending people money. It's a bad investment. You're not a bank!

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund. Obviously is police has no right to arrest over debt incurred, then, people should think twice before giving out your hard earned money to people.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund. Obviously if police has no right to arrest over debt incurred, then, people should think twice before giving out your hard earned money to people.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

seborrhic:

Op don't listen to this person.
This is the devil speaking to you.
If you go and beat up something you don't know his/her health status and the person dies,you are in for murder and I bet you all the money in the word,talkless of your little debt,won't take you out of it.
If you are extremely lucky,you maybe looking at 3p years in jail.
If you are so desperate to get back your money,involving the police or a lawyer is still the best,safest bet.
Don't listen to any voice of Satan telling you to go physical.
Visit prisons and see cases of people that regretted taking that route.

AlieninPH:


You might be a young man. But you have the wisdom of someone who will successfully grow old.
As you have said, lend money only to someone who is fit and responsible.
@AbelAbdul and others who want to become money lenders, listen to this advise.
Always carry out a fit and responsibility test including demand of physical collateral from anyone before lending out money.
When you do the above, you will become a successful money lenders.

SportsHD:
Did you read where I wrote that, I was just kidding?

freeman67:
First of all, are you a registered money lender? If yes, take the person to court and he or she will pay both principal and interest. Infact he may even be asked to pay for the money spent on legal fees.

However, if you are not registered, the law has no much space for you. At most the borrower will be asked to refund you the principal.

Though not everyone is aware of such. So you can do is to go them physical to ask and be loud about it since gentlemanliness didn't work. Threaten them with the law. Like "you will use law enforcement to arrest them or sue them in court". Please in the process avoid sentences like " I will deal with you or I am going to deal with you".

Also, check the details of your agreement again and try rewriting smartly if it wasn't. If you are not registered, your agreement should carry something like a "friendly loan agreement". If it comes to the amount you are lending out, it should carry the amount you are expecting as refund. i.e if you are lending 90k to collect 100k in return, the amount to be written as money lent out and nothing like interest should show there.

AbelAbdul:
Most Nigerians don't deserve help.

SunTzu123:


Yes, the police does not have the right to arrest over debt but they (police) can arrest over "obtaining by false pretence" which is what we call 419. You can report a case of obtainig by false pretence.

Also, Lagos state has a Small Claims Court. You don't need a lawyer and their cases are dispensed within two weeks. Walk in there and make a report. They will be summoned and if they refuse to turn up, you can get arrest warrant for them. The small claims court is at Ogba courthouse. Just go there and ask for it. Again you do not need a lawyer for that.