Ep. 89 | Your First Default: How Private Lenders Should Handle Borrower Non-Payment

In this solo episode, Ryan MacNeil breaks down one of the most challenging but inevitable parts of private lending: borrower defaults and enforcement. From the first missed payment to legal recovery strategies, Ryan walks you through the entire process with practical tips and hard-earned experience. He covers borrower communication, provincial differences in enforcement (Nova Scotia, Ontario, New Brunswick, and BC), issuing demand letters, working with the right lawyers, and recovering funds after default. This episode is packed with clear guidance, best practices, and professional advice you can apply immediately. Listen and enjoy the show!Show Notes:00:00 – Why local legal expertise matters for enforcement02:00 - What do we do when a borrower stops paying?03:12 - Key principle: Communication with borrowers is criticalSteps to help protect your investment:03:41 - Step 1: Recognizing default: NSF, insurance lapses, unauthorized fund use04:57 - Step 2: Initial communication with the borrower06:01 - Step 3: Offer a payment plan for the missed payment07:29 – When borrowers go dark: issuing demand letters09:11 - Moving to enforcement: foreclosure vs. power of sale09:20 – Nova Scotia & BC: court-driven foreclosure10:15 – Ontario: power of sale process and recent delays11:03 – New Brunswick: judicial sale via King’s Bench13:35 - Recouping principal, interest, and feesResources:Keystone Capital GroupCPLP Instagram: @cplpodcastKeystone Instagram: @keycapgroupFind Neal On:Instagram: @neal.andreinoLinkedInFind Ryan on:LinkedInE-mail: [email protected]