Dear Forum... Posted July 7, 2012 Share Posted July 7, 2012 Hi, I have stupidly lent a friend of over 20 years a sum of money (approx £3k). I've lent him money before and he's always repaid it without any problem, but this time I am having trouble getting it back. I've found out that the person lied about why they were borrowing it. I received a cheque that bounced, and have been promiced on several occasions that the person will meet me to pay me, but then he doesn't turn up. I feel sick enough already so please dont mock me as I know its silly to lend money to friends, but in the past I have had no problems. Can anyone give any advice? Have you had to take someone to court to make them repay a debt? If anyone knows how to go about it legally or what else I can do I'd be very grateful. I want to make sure I go through the correct channels. Thank you for your help. Link to comment Share on other sites More sharing options...
Andy Posted July 7, 2012 Share Posted July 7, 2012 You can, if you wish, sue on the strength of the bounced cheque. See http://www.direct.gov.uk/en/MoneyTax...oney/DG_195639 You will have to pay court fees but can claim these back from the debtor if your claim is successful. You can also claim interest on the outstanding amount. If you go through the Small Claims Court, you shouldn't need a solicitor. The thing to consider is whether this person can actually repay you. Even if you get a judgement, that's no good if they have no assets. Link to comment Share on other sites More sharing options...
Gazza58 Posted July 7, 2012 Share Posted July 7, 2012 Totally agree with comment regarding,can they actually repay you.I was in a similar situation and got nothing back for a couple of years [they couldnt afford it]when things improved for them financially i did eventually get it back.I wouldnt ever do it again mind. Link to comment Share on other sites More sharing options...
old tup Posted July 7, 2012 Share Posted July 7, 2012 I,ve had the same trouble in the past though not for such a large amount,as I,ve posted in a previous thread "never lend to a friend its a sure way to end the friendship".I hope you sort it all out you certainly pay to learn,good luck! Link to comment Share on other sites More sharing options...
Bypassblade Posted July 7, 2012 Share Posted July 7, 2012 My old nan; & my mum for that, always used to say "never a borrower, or a lender be", good luck Link to comment Share on other sites More sharing options...
Defunct Posted July 7, 2012 Share Posted July 7, 2012 I have more faith in people than most posters here do. If he/she is a friend of 20 years I would suggest that there is a very good reason why he/she cannot pay you back at the moment. What reason did he /she give? Could he/she pay you back at £100 per week? Link to comment Share on other sites More sharing options...
Sarah Kane Posted July 7, 2012 Share Posted July 7, 2012 OP. Ignore some of the fools on here. If i were in your shoes id be thinking of small claims court. Its not that expensive but the problem is im sure even if you do get a judgement you may struggle getting your money back as the judgements have no teeth. Court may frighten them into paying but if they are savvy and used to dodging creditors then i think youll struggle. Good luck and let us know how it turns out. Link to comment Share on other sites More sharing options...
Isabelle Posted July 7, 2012 Share Posted July 7, 2012 It won't be long before this thread gets closed down too, thanks to certain people. To the OP, I would suggest speaking to the CAB. Contact the 'friend' and stress to them that they must come to some kind of arrangement to pay back the money owed, otherwise you will have to resort to legal action. Send them a letter (recorded delivery). Link to comment Share on other sites More sharing options...
HeadingNorth Posted July 7, 2012 Share Posted July 7, 2012 Actually the right to free speech is a basic human right so weather on a forum or on a public street the right to free speech is sacred. On a public street, you'd be right; in a private house, you would not. If you stand in my house and say things I don't approve of, I'd throw you out on your ear. This is a private forum, not a public one. Your basic rights are irrelevant. You have no right to be here. Link to comment Share on other sites More sharing options...
shane39 Posted July 7, 2012 Share Posted July 7, 2012 I feel sorry for you buddy. 20 year friendship.and they have let you down. You say you have loaned to them before? Have the loans become progressively higher? Sometime people test the water.Borrow a bit,pay back and ask for more,and you think they are friends and good payers. Exhaust every diplomatic avenue before you take more drastic action Link to comment Share on other sites More sharing options...
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