Do You Know?

Posted by on May 7, 2018 9:53 pm
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Categories: Ask An Expert

  • That non-payment of debt is a civil matter.
  • The judiciary (court) is the only institution that can coerce a debtor to pay his debt.
  • The Nigeria Police Force and other security outfits do not have jurisdiction to entertain debt recovery matters.
  • The use of police to threat, arrest and detain debtors and force them to sign undertakings to liquidate their indebtedness is illegal, an abuse of institution and a flagrant intimidation of ignorant debtors.
  • A creditor that uses the police to threaten, arrest and detain a debtor is liable to assault, battery, false imprisonment and damages way above his debt.
  • Lawyers are authorised recovery agents.
  • It is better, faster and cheaper to appoint a lawyer as your recovery agent.
  • Other authorised recovery agents may eventually engage the services of a lawyer in the event of litigation.

 

 

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