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We have done it before and had good results. They might not pay immediately but when that person who screwed you tries to get credit or buy a house they will have a collections issue on their credit report. This either has to be resolved or no go on credit (most times), hence we got a phone call from the individual asking to settle the amount owed.
Make sure you follow thru, not only are you doing it out of principle you are saving your fellow landlords a MASSIVE headache of renting to these deadbeats.
DH
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