So I'm getting screwed by a bookie. Ideas?

[Daliman]

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wow daliman - stop loaning/giving money to everyone and stop being so trusting of everyone. You may end up mostly writing off the $80k that the bookie owes you because he possibly can't pay anyway and you really aren't willing to do anything too sketchy/dangerous to try to get it.
And I'm guessing that a lot of the other money you 'loaned' out in that other thread hasn't been paid back either.

You need to hang on to all your money like a true nit. And this means not loaning anyone a freaking dime. Seriously, this is a real problem.

I also fail to understand how you let the bookie loan get up to $80k. I mean, after you got to $30k or $40k or whatever and he still hadn't paid you might stop thinking, "I know he's good for it. Lets bet another $2k on the Packers."

It's possible that the reason he continued to take your action even though he was already in too deep was so that maybe you could run cold and he could get it back to even or something.

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See my above post; the debt grew 44k in a day.

[Daliman]

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factor debt to people who will collect as I suggested before, LDO.

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I'm not doing that, period. I have a family. But other investors are not quite as interested in being diplomatic.

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I honestly don't understand what you mean. Banks and I-banks factor their debt all the time. This *is* the diplomatic solution. Once you factor the debt, you are out of the equation.

If you factor to a friend of his, or a bookie he lays off his action with who will give you $25k, you're $25k better off and your bookie is rid of his debt to you. Win-win.

If I offered you $50k cash right now, would you take it? Of course you would. I don't understand the problem, there's a multi-$billion industry based on collections with publicly traded companies and everything. [Obvs I understand he is not Kmart LDO]

If your plan is to get no one involved and hope he pays you...I wish you luck with that, honestly.

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I misunderstood your inference previously. "Factoring" as you are using it, is not a term I am familiar with, but I will look into this as soon as I get a chance.

[Rococo]

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A few thoughts:

--The O in RICO stands for "Organizations". One guy with a phone and a pencil does not fall under "Corrupt Organizations".

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You obviously don't work for the U.S. attorneys' office.

[Jazzy3113]

Dali,
I did not read through the thread so I apologize if my suggestion has already been mentioned. The only contact I have had with a bookie was when I was still in school and there was a campus bookie. Nothing bad ever happened between me and him, but I always asked alot of questions. I think your best option for screwing him is to write a detailed report on how his business functions and give it to the police. Your best bet to collect your cash is too farm it out for like 35-45%.

Both options kinda suck as in one you get no cash and the other puts you into contact with scum that could follow you around. I still think the best option are these large online books.

[Jazzy3113]

Edit: After reading the replies and taking into account your new baby, maybe you should let your "investors" take over this collection and give you a piece of anything they can recover.

[MyTurn2Raise]

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in todays world, what is the point of using a bookie anyway? I can line shop from the privacy of my home, I can make a bet in my boxers, and I know the sites that I have money on aren't going to stiff me if I happen to win.

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If only this were true.

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[Dawg24]

I know this may sound crazy or you may think it will put your family in danger but it wont....

IF he owns his own business that is reputable this should not be that hard. Go there with a couple of friends and wait for him...he will not be able to duck you...

Let him know you are serious and want to set up a payment plan. Insist on no less than $10k before you leave...make sure you say something along the lines of "you are not leaving me a lot of options" if he refuses...

If he continues to refuse..hit him where it hurts...the wallet...there are plenty of people who could accidently place a descent amount of cocaine in his desk drawer and a tip to the police that its there...

Someone said it before but put the shoe on the other foot...what if you owed him...he would do this or much worse...

[JbruNation]

I'd just get a crew together and pay him a vist. ie if he has a business, take it down by whatever means.

OR

you could write a detailed report and send it to the press. with all the gambling issues in the news right now im sure they would be interested in a back door bookie.
I would think about getting on a internet bookie or moving to vegas to avoid this prob again.
peace.

[not a model]

send him a sweater for christmas, except not an ordinary sweater--but a REALLY ITCHY SWEATER! he'll either be uncomfortable when he wears it or he'll have to get rid of it and feel bad about getting rid of your gift... a "win/win," as they say.

[Rococo]

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I know this may sound crazy or you may think it will put your family in danger but it wont....

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How in the world do you know?

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If he continues to refuse..hit him where it hurts...the wallet...there are plenty of people who could accidently place a descent amount of cocaine in his desk drawer and a tip to the police that its there...

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What is the point? To show him that noone fvcks with Mr. Zero?