How important is being right, as opposed to getting money?

What's more important if you're owed money?

  • Take some money and settle - at least you get some money and no risk

    Votes: 11 64.7%
  • Fight for your rights - claim for the whole lot, and at least know that you've been true to yourself

    Votes: 6 35.3%

  • Total voters
    17

OrangeOne

Legend
Scenario: Someone owes you money - in the thousands.

They have refused to pay you repeatedly, and it's not the easiest thing to prove, but you know that it is right - that you are owed the money. Legal action has been mentioned.

They've offered you approximately half of the sum to 'settle' and avoid court.

Do you:
a. take the money and run (deal or no deal style), and somehow find a way to sleep at night?
b. Do you gamble the half and aim for the whole, and know even if you lose, at least you fought for what you knew you were owed, what you knew was right?
 

kingdaddy41788

Hall of Fame
Tough call if there are other people (your family) depending on the money. But otherwise, you fight for what was right. Or at least that's what I would do.
 

CanadianChic

Hall of Fame
Unfortunately, in this case, being right doesn't matter. If there is no proof of the loan then you won't see a dime in court. I would take half the money and then cut them out.
 

ProgressoR

Hall of Fame
If you cant prove, it, then dont kid yourself, the law goes with the evidence, not who is right or wrong. I would take the half and split and learn from it. Document everything, if you can, though its difficult when money is involved with friends (and family).
 

ALten1

Rookie
Is there no paper trail? No witnesses to the act? Even is answer is to questions is no, small claims court might be an avenue.
 

ollinger

G.O.A.T.
The use of the word "right" is odd here. Don't confuse right and wrong with what you want. If someone owes you money and is unable to pay, there's nothing "wrong" about settling for less. If you feel he's able to pay but refuses, then you need to consider WHY THE HELL DID I LOAN THOUSANDS TO A GUY LIKE THIS!!!
 

ollinger

G.O.A.T.
Almost certainly! The first words out of your lawyer's mouth will be about his five thousand dollar retainer.
 

LuckyR

Legend
Scenario: Someone owes you money - in the thousands.

They have refused to pay you repeatedly, and it's not the easiest thing to prove, but you know that it is right - that you are owed the money. Legal action has been mentioned.

They've offered you approximately half of the sum to 'settle' and avoid court.

Do you:
a. take the money and run (deal or no deal style), and somehow find a way to sleep at night?
b. Do you gamble the half and aim for the whole, and know even if you lose, at least you fought for what you knew you were owed, what you knew was right?

Hopefully you have learned though this experience:

1- Don't lend money informally that you won't mind never seeing again

2- Don't lend money to dirtbags

3- Don't lend money to friends/family, unless... see #1

Consider this your tuition at the School of Hard Knocks, get what you can and you are lucky to get even that.
 

813wilson

Rookie
Hold on. I agree with the lending money advice. But, the originator said it is not eh easiest to prove, not that it could not be proved. And, there has been an offer to "settle". So, find a way to get that in some sort of provable way and use that against the person. "you know you owe me money, you've offered to pay me 1/2, you don't want to go to court." With evidence of an offer to settle, threaten to go to court because the person will have to weigh their court costs at that point.

Learn the lessons offered but never back down from what is right. That is how torte reform became so needed.
 

OrangeOne

Legend
Interesting input - thanks for the responses people.

For the record - the money does not stem from a loan (even though most have assumed it does). Doesn't really matter for the sake of the opinions, but it's interesting to read them nonetheless.
 

LuckyR

Legend
Interesting input - thanks for the responses people.

For the record - the money does not stem from a loan (even though most have assumed it does). Doesn't really matter for the sake of the opinions, but it's interesting to read them nonetheless.
So was it a bet? Then replace "loan" with "bet" in the advice.
 

OrangeOne

Legend
So was it a bet? Then replace "loan" with "bet" in the advice.
a. I don't gamble / bet.

b. Whilst I don't want to go into detail, it was, err, business-related.That'll suffice. And I'm aware of the documentation advice, anyone who has been in business for a while will tell you that sometimes a level of trust can build up....anyways.

The thread isn't really about advice as to prevent this situation, it's about knowing what others would do in such a situation.
 

Hot Sauce

Hall of Fame
What's more important in this case, the money or the principle? What do you think your chances are in court?
 

LuckyR

Legend
a. I don't gamble / bet.

b. Whilst I don't want to go into detail, it was, err, business-related.That'll suffice. And I'm aware of the documentation advice, anyone who has been in business for a while will tell you that sometimes a level of trust can build up....anyways.

The thread isn't really about advice as to prevent this situation, it's about knowing what others would do in such a situation.
I think I get it. Well, since this "business" is unregulated and is lacking in documentation, I guess it would depend on whether this business is your primary source of income and what the relationship is between the two of you. If the business is a small sidelight I would revert to my prior advice and preserve the relationship (especially if it is an important one). This would put them in your debt and you could get a future favor worth more than the monetary value of the debt in the future.

If this is your primary source of income then you have to protect your interests. Unless the other person is extremely close to you, you need to show you are not one to be messed with. In that case I would bring down the full power of the "law". This will secure your reputaion as someone not to be messed with. You need to nip this sort of thing in the bud or else other "business" partners will try to do the same thing.
 
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