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Sign up with Google Sign up with FacebookQ: What is the best and most effective way to collect a debt from Chinese?
Sooner or later we all make the mistake of lending money to one of our Chinese friends and no matter when they say they will pay it back, the dealine comes and goes without a word! What's up with this? Do they think the loan was a gift?: How do we get our money back???
Forget about it. You probably lost your money and a friend too. Next time don't be a lender. If its a large amount of money that you cannot ignore, I agree with the Santa guy - get professional collectors involved.
Depends how much of a friend they are I think.
If they see you as just some rich foreigner they've manipulated then bye bye money.
If you know them well and they are a good friend they may not repay the money back exactly the same way. For example I gave about 400rmb to my friend one time, I didn't see it back but 1 time he was working in another city and invited me there. Paid for my hotel, dinner and drinks etc. I think the debt was truly repaid.
Loaning money is considered a 'favour' so unless you specifically say you want the money back you'll probably not get it in this form.
Yes, it's depend on how much money you lend them...
Never lend more than you are willing to forget about to anyone, at anytime, in any place.
I just talked with some girl at International Recovery Service and she gave me this site that explains how to get your money back in China:
www.InternationalRecoveryService.blogspot.com
And get this... they charge nothing unless and until you get your money back. But it looks like they have a minimum and the debt cannot be more than 3 years old. Thanks for the tip Rainbow Kids.
You should talk with your Chinese friends about this thing.Maybe they have frogetted.Worthwhile you should expree your condition.you need money back.It is urgent.If your friends cant pay back your money.will you give his much time?
If you really want to teach him a lesson, you can always break his finger and his nose in one easy move.
Violence will get you immediately deported and banned from reentry Ted.