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Dear forumers, thanks for taking time to read my story. hope you can provide me with some solutions and advice on how 2 handle my debtor. what happen was a friend that i've known for 5 years approach me asking for a loan of 10k to help him with his investment. he assured me that once his loan from the bank was approved he will return me the money which he said was about 2 weeks. in addition, he showed me prove that he was also selling his HDB by showing me his post in Propertyguru, saying that he will have the money in no time. being naive, i borrow him the 10k with a IOU stating that he will return me the money as soon as his bank loan is approved. 2 weeks passed and i had yet to hear from him. so i called him up and he start giving alot of excuses saying that the renovation loan was delayed as the banker need to visit his premises to ensure that the renovation was done etc. however, i found out who the banker was through my own means and after talking to the banker. i realised that his loan has been disbursed to him! to make things worse, i contacted his property agent and ask how is his property doing. to my dismay, the property agent said the owner rejected an offer of 330k! ( his price to sell is 340k). now it has been about 4 months since i borrowed him the money but he has yet to return me a single cent. i have considered getting a debt collector to collect back the money but i understand that it is not a guaranteed procedure. the debt collectors will only go up and ask for the money the debtor until he give up.i have also approached lawyer but the fee is 4k to sue him to court. i am at my wits end as i do not know what to do. i have the IOU with his signature. after discussing with lawyers he said my case is 90% win(provided the guy dun declare bankrupt). this has been a traumatic an painful learning experience not to trust people too much.... Appreciate if some brothers give me advice? am open to any low cost methods to collect back my money! thanks in advance!!!