Recovering Outstanding Debts

pedrodominicus · #1 10-27-2006, 11:06 PM

What works here in the DR? I am trying to recover money (US$2,000.00) from a personal loan to a fellow European and would appreciate any advise on what works here in the DR. Is there any effective legal path to follow?

Do we have any Debt Collection Agencies, if so how do they work? The person defaulting has some resalable assets like computers exct, or maybe its best to just employ someone to go break a leg?

If you’ve had any experience in this area I would be interested in hearing how you resolved the problem.

thanks pedom

A.Hidalgo · #2 10-27-2006, 11:30 PM

I definitely recommend the advice from local attorney Mr Guzman, who will answer you. I'm not sure about employing someone to brake legs, be carefull they might turn on you.

pedrodominicus · #3 10-27-2006, 11:48 PM

Thanks Hidalgo, I realize “brake a leg” is not the best option, just venting a little frustration.

Criss Colon · #4 10-28-2006, 12:53 AM

For $2000 you learned a valuable lesson! " NEVER A Borrower OR A Lender Be!"
In the DR you will never get your money back! You will spend more money on lawyers who ALWAYS,need "just a few more $$$$ and you will have your money back!?
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MrMike · #5 10-28-2006, 01:06 AM

I second what Criss said. Don't lend money in this country. If they can't or won't pay you there is really nothing you can do that has more than a small chance of being effective.

pedrodominicus · #6 10-28-2006, 10:17 AM

Thanks guys
Lets hope others read and learn from this thread and don’t make the same mistake.
Pedom

Stodgord · #7 10-29-2006, 10:23 AM

Dominicans lend money to each other all the times but they usually ask for some type of guarantee. This type of loan is call "hipoteca" and it usually requires the borrower to hand over a deed to a valuable property worth much more than the loan.

Don't ever loan money to anyone in the Dominican Republic without a tangible guarantee. The person and other will vouch for the honor, integrity and responsibility of the borrower and then after they hit you with money, they will blame you for lending it in the first place.

Fabio J. Guzman · #8 10-30-2006, 02:22 PM

You most probably can collect the debt but because of the small amount involved AND the fact that you are a non-resident it will be difficult to get any of the firms that usually handle international clients to take on the case.

(As a non-resident, the defendant may request that you put up a bond before the collection can go forward.)

BushBaby · #9 10-30-2006, 03:04 PM

Any chance that you can "borrow" this friends car for a trip into town sometime?? Any (expensive) garden or other equipment you might be able to "Borrow"??

I don't suggest for one moment that you organise problems (lokie knee-capping) for yourself. but you might be doing a public service for other ex-pats if you mention the name & locality of this dastardly fellow!! ~ Grahame.

Lambada · #10 10-30-2006, 04:42 PM

Quote:

Originally Posted by pedrodominicus

Thanks guys
Lets hope others read and learn from this thread and don’t make the same mistake.
Pedom

Indeed and nice of you to be altruistic about it. If the European creditor is a resident of the DR, do they have residencia? Do they possess a gun? Have they got a gun licence? Do they drive? Have they got a DR driving licence? Do they own property which is subject to tax? Are they paying it? Do they pay their business taxes? I'm sure you get my drift..........life can be made somewhat awkward for unscrupulous people by asking a few well directed questions in the right quarters..........

if you live here, it isn't difficult, but it would be if you don't.

I don't know of official debt collection agencies. I thought people went to the local gym and hired (for a reasonable fee) a couple of poor but fit weightlifters whom they know..........NOT to kneecap, I hasten to add, merely to recover items to the value of the debt with no violence. But please, DON'T do this if you don't know what you're doing down here and don't hire strangers. You HAVE to be DR savvy and you HAVE to know what story the creditor is putting round as to why he isn't paying, just in case you find yourself being done as the intellectual author behind a 'theft'.

Alternatively, if your creditor has done the same thing to others in the same locality, you could try a little 'community' shaming.

Failing that, get French and Saunders on your side.............
YouTube - American Retirement - French and Saunders