I'm thinking of selling a bad debt to the highest bidder

[CountValentine]

$300 only used once. It will do the trick.
http://www.globalindustrial.com/p/outdoor-grounds-maintenance/kennels-dog-houses-barns/buckets-feeders/rechargeable-electric-livestock-prod-dx36-36-fiberglass-shaft?infoParam.campaignId=T9F&gclid=CI7n45Hl7rwCFYqFfgoda3oAMA

[Ergel]

There is an issur doraisa lo savo el beiso laavos avoso. See discussion at the end of bava metzia-it is also assur to take the mashkon in the street unless you are a shliach beis din
See choshen mishpat 97:6

[JamesIV]

There is an issur doraisa lo savo el beiso laavos avoso. See discussion at the end of bava metzia-it is also assur to take the mashkon in the street unless you are a shliach beis din
See choshen mishpat 97:6

Even after the payment due date?

[churnbabychurn]

Even after the payment due date?

yes

[Yehuda25]

I think that you should be upfront with him. Tell him that I really need the money now (for whatever bar mitzvah sheva brachos etc.). I have experience in collecting debt, and I think that he does intend to eventually pay you, he just needs a reason to do it right now. Good luck !!

[philbenjoe]

Have a meeting with him and tell him that you want to get your money and you understand its hard to layout $1000 in one shot etc so you are willing to workout a monthly installment...that may take away a lot of the resistance....

[lunatic]

Nope. Just keeps saying "you're right I owe you. Will pay you tomorrow, Monday, call me next week" etc. FOR A YEAR.

He clearly does not have the money and can't afford to pay you (and is embarrassed). As others have said, ask him what he thinks he can really pay on a weekly basis. Maybe get a Square account and get his credit card number and charge him $83 per month for a year

[DH Data Recovery]

Tell him you will call his parents, in laws etc

[Freddie]

I think that you should be upfront with him. Tell him that I really need the money now (for whatever bar mitzvah sheva brachos etc.). I have experience in collecting debt, and I think that he does intend to eventually pay you, he just needs a reason to do it right now. Good luck !!

Welcome to the forums, Yehuda25. I like your advice. It sounds solid. Can you elaborate? If you really have experience in this area, members of the forum will appreciate your insights.

[good sam]

I have had success in collecting debts from unrighteous Jews by calling friends who were senior management at their job, contacting the rabbi of their shul, or by applying various heavy social pressures.

Dangerous. See here:

http://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-debt-collection-practices-act-text#805

[henche]

Dangerous. See here:

http://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-debt-collection-practices-act-text#805

This is why you should not read any laws unless you are a lawyer. (And why you cannot read halacha unless you are a lamdan)

(6) The term "debt collector" means any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the collection of any debts, or who regularly collects or attempts to collect, directly or indirectly, debts owed or due or asserted to be owed or due another. Notwithstanding the exclusion provided by clause (F) of the last sentence of this paragraph, the term includes any creditor who, in the process of collecting his own debts, uses any name other than his own which would indicate that a third person is collecting or attempting to collect such debts. For the purpose of section 808(6), such term also includes any person who uses any instrumentality of interstate commerce or the mails in any business the principal purpose of which is the enforcement of security interests. The term does not include --(A) any officer or employee of a creditor while, in the name of the creditor, collecting debts for such creditor;

(B) any person while acting as a debt collector for another person, both of whom are related by common ownership or affiliated by corporate control, if the person acting as a debt collector does so only for persons to whom it is so related or affiliated and if the principal business of such person is not the collection of debts;

(C) any officer or employee of the United States or any State to the extent that collecting or attempting to collect any debt is in the performance of his official duties;

(D) any person while serving or attempting to serve legal process on any other person in connection with the judicial enforcement of any debt;

(E) any nonprofit organization which, at the request of consumers, performs bona fide consumer credit counseling and assists consumers in the liquidation of their debts by receiving payments from such consumers and distributing such amounts to creditors; and

(F) any person collecting or attempting to collect any debt owed or due or asserted to be owed or due another to the extent such activity (i) is incidental to a bona fide fiduciary obligation or a bona fide escrow arrangement; (ii) concerns a debt which was originated by such person; (iii) concerns a debt which was not in default at the time it was obtained by such person; or (iv) concerns a debt obtained by such person as a secured party in a commercial credit transaction involving the creditor.

[Yehuda25]

Welcome to the forums, Yehuda25. I like your advice. It sounds solid. Can you elaborate? If you really have experience in this area, members of the forum will appreciate your insights.

Thank You for the welcome Freddie, In my experience their are very few people out there that owe money (there are malicious exceptions out there obviously) that do not plan on repaying the debt. They just rationalize not paying at the current moment by telling themselves things like, he doesn't really need the money now, ill pay him as soon as I get my next paycheck or as soon as I pay off that credit card bill etc. But really it all comes down to priorities, and how high your debt is on his list. I have even had people tell me things like "you really need the money now" or "why do you need the money now" !!! So like I said, you have to find someway to make it more important to this guy that he pays you now.

[Freddie]

Thank You for the welcome Freddie, In my experience their are very few people out there that owe money (there are malicious exceptions out there obviously) that do not plan on repaying the debt. They just rationalize not paying at the current moment by telling themselves things like, he doesn't really need the money now, ill pay him as soon as I get my next paycheck or as soon as I pay off that credit card bill etc. But really it all comes down to priorities, and how high your debt is on his list. I have even had people tell me things like "you really need the money now" or "why do you need the money now" !!! So like I said, you have to find someway to make it more important to this guy that he pays you now.

This is an amazing insight! Thanks! So, how do you create urgency? What are the right "osiyos" to use?

[Yehuda25]

Well obviously that would depend on the situation, some methods that I have used in the past, can be as simple as "I have a credit card bill coming up tomorrow that I need to pay". This case however seems to be slightly more complicated. As I personally don't know the person that owes the money I cant really offer a solution. Everyone has their own motivators, whether that be their family, community, reputation etc. If this person holds himself an honest person, simply telling him that I trusted you to pay me back, and now you are breaking that trust, just might be enough, you never know ! And if he really doesn't have the money, maybe work out a payment plan of some sorts. But the main thing in my experience to do, is to communicate effectively and tell him very clearly (no beating around the bush !) that you owe me money, you must pay me back, and make him give you a time that he will give you the money.

Also many people when collecting money from people that owe them, have this guilty feeling as if they should give him a little more time or just ease up on him, basically trusting them to pay back out of goodwill. I'm not saying this is unacceptable, but at a certain point you must put your foot down.

[AJK]

This is why you should not read any laws unless you are a lawyer. (And why you cannot read halacha unless you are a lamdan)

Well, now this is awkward.

[SamKey]

There is an issur doraisa lo savo el beiso laavos avoso. See discussion at the end of bava metzia-it is also assur to take the mashkon in the street unless you are a shliach beis din
See choshen mishpat 97:6

I do not believe this is 100% accurate, but I may be wrong

[Ergel]

I do not believe this is 100% accurate, but I may be wrong

I quoted you mareh mekomos that are very clear from Torah to shas to shulchan aruch. If you have something else please speak up

[ahecht37]

Thank You for the welcome Freddie, In my experience their are very few people out there that owe money (there are malicious exceptions out there obviously) that do not plan on repaying the debt. They just rationalize not paying at the current moment by telling themselves things like, he doesn't really need the money now, ill pay him as soon as I get my next paycheck or as soon as I pay off that credit card bill etc. But really it all comes down to priorities, and how high your debt is on his list. I have even had people tell me things like "you really need the money now" or "why do you need the money now" !!! So like I said, you have to find someway to make it more important to this guy that he pays you now.

I have a situation where someone owes me $500 for expenses that he asked me to do.
guy has money, and admits he owes me, just keeps pushing off

[yankel55]

So far no one has responded with a higher offer to buy the debt. Interesting. I'd think its a good way to make $400 if you can be intimidating and persistent and willing to get in the guy's face.

And to all the people writing in that the poor guy has no money etc I say, Puhleeze! It's a year, surely he could've paid something. If he would be upfront about it, it would be a different story. But he brazenly says oh sure tomorrow etc. it's insulting to think that he can brush me off with an obvious lie.

I offered him a few times to pay slowly in installments. To no avail. To me it's clear he's taking advantage of my meek personality. He knows I won't scream at him, embarrass him in front of his wife or Rav, or grab some of his possessions as some people suggested. Instead I plan to hire someone else to do it.

Anyway my deadline to him is tomorrow. He said he'd be in touch with me. Sure. I am 100% certain he won't call me.  And then the fun begins.  I do have someone who will do it for half the debt. And as I mentioned, I'm happy to give away half as long as it's all out of his hands.

I always wondered what people mean by 'I want justice to be done'. Now I know.

[Jkhein]

Tell him you will call his parents, in laws etc

Works wonders IME, just ask if they think they can help you in any way