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Why it’s hard to recover debt that is not recorded in writing
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It's hard to recover a debt that is not recorded in writing if the other party denies that it exists.
PHOTO ILLUSTRATION: PIXABAY
SINGAPORE - If a deal involving a large sum of money is not worth your time and effort to record the details in writing, you are probably better off steering clear of the whole thing.
This simple rule of thumb seems obvious but many people have lost fortunes large and small because they would rather believe the bare words they are told than get everything down on paper.
