Lawyer Shares Practical Legal Steps to Handle Debtors and Recover Your Money, Video Trends
- A legal practitioner has sent a message to creditors concerning how they could handle their debtors and possibly recover their money
- Using himself as an example, the lawyer highlighted practical legal moves he would make, which would not require the debtor's presence in court
- According to the lawyer, the law allows you to chase the debtor's money wherever it is being held instead of chasing the debtor
A Nigerian barrister, with the TikTok handle @thelawtivist, has shared the practical legal steps creditors could consider in handling their debtors.
The lawyer explained that the law does not say one is handicapped when being owed and made provisions for steps to take towards recovering the debt.
Source: Getty Images
Lawyer shares steps to handle debtors
Barrister @thelawtivist, in a TikTok video on July 4, said that the first thing he would do is to sue his debtor in a small claims court. At this court, he stated that he could get a judgment whether the debtor appears in the court or not.
The legal practitioner, who used himself as an example, added that the next move he would make is to commence a garnishee proceeding.
A garnishee proceeding is a legal method used to enforce a monetary court judgment. It allows a winning party (the judgment creditor) to recover a debt by seizing the judgment debtor's funds held by a third party, such as a commercial bank, OAL Law explains.
With the garnishee order, the lawyer explained that he would ask the court to make an order directing all banks to disclose whether his debtor has accounts with them and how much.
"So you think if you're owing me money, I can't do anything to you, Abi? Well, the law says otherwise.
"First, I will sue you at a small claims court, which is fast, and get judgment against you whether you come to court or not.
"Secondly, I will commence a garnishee proceeding, asking the court to make an order directing all banks to reveal whether you have accounts with them and how much you have in them.
"Then to pay me from the money in your account. In simple terms, instead of chasing the debtor, the law allows you to chase the debtor's money wherever it is being held, usually in a bank account. At this time, you cannot withdraw. You got that for free," the lawyer said.
Source: Getty Images
Watch the lawyer's TikTok video below:
Debtors: Lawyer's message to public stirs reactions
Legit.ng has compiled some reactions to the lawyer's statement below:
Future_Stacks said:
"If they've owed longer than they should and have refused to pay with proof, can we get them penalised to oay extra on the debt value for delays, accrued potential interests, and default risks, etc?"
Engineer Olatunji O.F said:
"What if the debtor didn't denied your money and asking for extension to resolve it, would court still go ahead and give judgment?"
Franklyn said:
"No court will force anyone to pay a debt as long as they can’t meet the affordability threshold. Even if the court will allow that, it depends on what the debtor can conveniently afford."
NWOLU & ATTORNEYS™️ said:
"Garnishee proceedings do not allow you to summon all the banks now. You must be specific."
Shynn Technologies said:
"Oga calm down ooo... The nature of the debt matters. Without any form of signed agreement between both parties.. It's a whole different ball game. Evidence is everything in the law."
In a related story, Legit.ng reported that a lawyer had explained four consequences of being a chronic debtor.
Debtors: Lawyer addresses loan app users' fear
Meanwhile, Legit.ng previously reported that a lawyer had addressed loan app users' fear of being banned from travelling abroad as debtors.
Many Nigerians believe they will be blocked at the airport by immigration authorities if they have outstanding balances with loan apps.
The lawyer noted that a loan app cannot single-handedly impose a travel ban or direct the Nigeria Immigration Service to stop a debtor from leaving.
Source: Legit.ng
