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Can civil suit be taken regardless of private settlement?

I lend a money to a friend since he told me he has no job and we agreed to terms to adhere. We had a contract signed in accordance to a mutual agreement. We brought up our own concerns and affairs to be settled and again, we all resolved it. But then after some time he gradually eliminate our communications and soon became none. I tried contacting him as soon as I realized that he is hiding and tried avoiding me. But he continued to avoid me and not communicate with me.

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    Unfortunately, you can't hastily go to the police since you have a private settlement and agreement. Personal loan cases or debt cases are considered to be civil case and not a criminal case so the police cannot take action of the said circumstance. Given the situation, you might want to ask him personally.

    2020.03.24 15:44

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My neighbor owed me money for a year and stil haven't paying me back.

You can sue someone for money you loaned to them. A verbal agreement is usually enforceable. You will have to be able to prove the terms of the agreement and hopefully, you can do that through your bank records and text. Evidence must be provided to sue those who borrowed money from you. It is not a rare case here in Singapore but it also happens in other countries.

Is borrowing money from a loan shark legal?

Loan sharks have existed every since people and groups needed money to create business or pay their existing debts. Unfortunately, they do not operate within the regulations of Singapore's Ministry of Law. In turn, they can increase interest rates to the highest levels they wish monthly and reject the amounts you regularly pay to allow them to gain higher interest rates and more money from you.

Foreclosure of a private property

A notice of default should be issued first by the lender and if the borrower still not responded, a notice of trustee's sale is recorded in the county office. The lender can then sell the property through a public auction and the money that will be collected to that will be the payment for the borrower's unpaid debt.

I'm currently in a lot of debt. and I need it to stop

As long as you are able to pay your credit balance as soon as possible, I don't see the harm in paying of a loan with your credit cards, since it would obviously be better for you to pay the loan that you had before, since every month it will increase in interest and would cost more, while the credit card that you posses only needs to be paid monthly and will be unaccesible only if you exceed the credit limit but mind you, as long as it remains unpaid credit can also increase in interest so exercise this with caution

The debt collector is asking for a private settlement

When collecting a debt from someone, you must do everthing professionally. In this case, the debt collector dealt it in a private settlement. What sets them apart from your neighbourhood ah long is the fact that they try to comply with the law. There’s also an industry Code of Ethics set up by the Credit Collection Association of Singapore, which resolves disputes between debtors and collection agencies; however, the CCAS does not have a great deal of power to enforce the code.

Can I get loan even though I have debts?

Loans are usually offered by banks. You can get a loan if your pay check is validated by the bank that you are capable of doing a loan. You can also get loans from other agencies, but they have different qualifications. Some agencies do not require pay check but have a legal contract before you get your loan.

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