I am curious about the procedure for the collection of outstanding receivables.

Hello.

I am very sorry to hear that you have not been able to recover the 50 million won you lent to your acquaintance.

Moreover, since there is no loan certificate, you are in a disadvantageous situation.

If the repayment due date has already passed and the certified mail of content has been ignored, you can respond legally through a lawsuit for the collection of the outstanding receivable.

If you prepare a lawsuit related to the collection of an outstanding receivable, you must prove the fact that you lent the money and the circumstances in which you were not repaid, so you should prepare relevant materials such as transfer records, text and KakaoTalk conversations, and call recordings.

The litigation procedure begins with first submitting a complaint to the competent court.

Thereafter, the court serves the complaint on the debtor, who is the defendant, and proceeds with the trial through a process in which both sides exchange their claims and evidence.

At this point, if possible, filing an application for provisional attachment in parallel, so that the other party cannot dispose of their property in advance, can also be an important strategy.

In a situation without a loan certificate, a simpler and less costly procedure than an ordinary civil lawsuit is an application for a payment order.

A payment order proceeds solely on the basis of documents, and it is an efficient method that can lead directly to compulsory execution through the court's judgment.

However, if the debtor files an objection, the matter is ultimately converted into a formal lawsuit, so you should also keep this possibility in mind.

In this way, a lawsuit related to the collection of an outstanding receivable requires various strategies and preparation depending on the situation, so if possible, it is advisable to prepare a more concrete response through a consultation with an attorney experienced in debt collection.