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Posted By: Identify7

Well, Im certainly not a lawyer, but I have been a trusting fool who got myself into your predicament more times than I will admit.

What has worked in the past for me is to advise the guy who owes you money that based on his comittment to pay, you have extended similar comittments to pay others. And because you feel that your obligations are important, you will take out a loan to fulfill them.

Then state that if money is not received from him by a specific date, you expect him to pay the interest on your loan.

I have not met with a continuance to ignore my request for payment after sending this letter certified. If I did find continued disinterest in my requests, Id then take legal action.

Edited to add:
Ooops, this may be the same as what Todd said - but I understand mine.