Debt recovery problem

[pinky]

thanks tutormum for your advice.

My husband only found out recently that he had borrowed from another colleague but only return the amt after many months. As you mentioned this guy display trait of a compulsive borrower and I will tell my husband to approach the boss about the salary deduction but he wonder if he needs a court/formal order to give to the personnel dept for such an arrangement. Is there a need for a formal authorisation?

[pinky]

tuition_czar:

I really hope you get your money back. Your DH shouldn't have lent money to mere acquaintances, let alone parasites.

yup and a big liar :mad: anyway, I told my husband don't wait anymore and discuss with his boss and HR about the deduction on Monday. He said I am 'hiong' and I said he is 'gong' too 'gu-niang' :slapshead:

[pirate]

A good piratey rule of thumb is don't lend money unless you don't expect to see it back. :moneyflies:

[tutormum]

pinky:

thanks tutormum for your advice.

My husband only found out recently that he had borrowed from another colleague but only return the amt after many months. As you mentioned this guy display trait of a compulsive borrower and I will tell my husband to approach the boss about the salary deduction but he wonder if he needs a court/formal order to give to the personnel dept for such an arrangement. Is there a need for a formal authorisation?

As long as your DH can prove that he did lend and the debtor admits that he borrowed, the boss will instruct the payroll dept to deduct from his pay. The debtor may be required to sign a letter of authorisation for them to do so. This is also to prove that he did 'receive' his salary but paid to another party. There is no need to go to court.
The only way for him to get out of paying is to resign but I don't think he'll do just that as his rice bowl is at stake. In case it does happen, then the only course of action is to go to court and find out which company he'll be working for.

[Funz]

tutormum:

pinky:

thanks tutormum for your advice.

My husband only found out recently that he had borrowed from another colleague but only return the amt after many months. As you mentioned this guy display trait of a compulsive borrower and I will tell my husband to approach the boss about the salary deduction but he wonder if he needs a court/formal order to give to the personnel dept for such an arrangement. Is there a need for a formal authorisation?

As long as your DH can prove that he did lend and the debtor admits that he borrowed, the boss will instruct the payroll dept to deduct from his pay. The debtor may be required to sign a letter of authorisation for them to do so. This is also to prove that he did 'receive' his salary but paid to another party. There is no need to go to court.
The only way for him to get out of paying is to resign but I don't think he'll do just that as his rice bowl is at stake. In case it does happen, then the only course of action is to go to court and find out which company he'll be working for.

Really? That can be done? I am surprised that companies will get involved in something like that. If it is a case of alimony with supporting documents from court yah but lendings between colleagues. Just really surprise.

[MMM]

Funz:

Really? That can be done? I am surprised that companies will get involved in something like that. If it is a case of alimony with supporting documents from court yah but lendings between colleagues. Just really surprise.

Me too. I actually doubt HR will want to get involve in this as it is a private matter between the 2 parties.

But highlighting to the boss might add pressure to the borrower to return especially if he does not want people to know about it.

[alng]

tutormum:

As long as your DH can prove that he did lend and the debtor admits that he borrowed, the boss will instruct the payroll dept to deduct from his pay. The debtor may be required to sign a letter of authorisation for them to do so.

So long the debtor authorises the company to pay to the creditor, this can be done. But many companies will avoid this extra administrative work.

[pinky]

just to update on the matter:

my husband's HR dept did not approve the salary deduction proposal bec this is a personal loan and they do not have such a policy.
I check with some lawyer firm and it cost a few hundred dollars to draft the letter of demand so that may not be feasible.
His colleagues mentioned that this guy was looking around for a night job to supplement his income. Dun know if it's for paying his mother's hospital bills or his own debt.
Nonetheless, I told my husband to observe this guy and remind him of the debt if he really wants his money back. I was pissed off by this guy's false promises about repayment and felt that he could be exploiting my husband's trust and sympathy.
Anyway, still hope to get the money back but just :xedfingers:
If you have other ideas, please share with me and other forummers here.
Thank you.

[UncleLim]

What is $2k as a percentage of your annual income ?


Can you bring yourself to forgive the debt ?

I struggled with this same issue recently. I have decided to forgive the debt and move on with my life. Disappointed, yes. But hopefully a bit wiser.

[pinky]

Hi UncleLim

thanks for sharing. I have not yet decide if I will drop this matter but for my husband, he just admitted that on hindsight he was too soft-hearted. Anyway, no more loans from him :xedfingers: and we will see how events unfold the next week. Frankly, the feeling of being played out sucks and I am trying to let go of the anger first. :stompfeet: