lending money to family
My nieces partner asked me if i would loan him £2000 ! , he said that he was waiting for money coming in from various big jobs that he was on with, so i voluntered to lend him the money.
He signed a i.o.u , also a date that the money would be repaid by, while i never thought that this date would be exceeded , it as gone by, with no communication from him at all.
can anyone advise me what the next course of action i take ?, or do i just wait more time out & leave it with him for a while ?.
The loan i gave him was also interest free!, which i also stated on the i.o.u, while i am not panicking yet, i just need to prepare myself if the inevitable happens. thankyou.:)
He signed a i.o.u , also a date that the money would be repaid by, while i never thought that this date would be exceeded , it as gone by, with no communication from him at all.
can anyone advise me what the next course of action i take ?, or do i just wait more time out & leave it with him for a while ?.
The loan i gave him was also interest free!, which i also stated on the i.o.u, while i am not panicking yet, i just need to prepare myself if the inevitable happens. thankyou.:)
0
Comments
-
First thing to do is to assume it's gone for good.
Following that, it's a question of how much you want to push for it to be repaid. You should certainly drop him a line/text/email asking what the status is.
If that gets ignored, it's down to your family dynamics and personal preference as to whether you let it go, press him further, or drag it through the courts.0 -
Ask him for it.
If he doesnt pay, ask whim when he is going to pay. If he doesn't take him to the small clams court.
Or accept it's gone forever if he doesn't pay.Shampoo? No thanks, I'll have real poo...0 -
Yes, ask him for it. Give him a short window of time to pay and then advise him that you're taking steps to recover the loan + interest + fees ...
https://www.gov.uk/make-money-claim-online
Making a money claim is pretty simple and unless your Niece's partner is a complete waster, there's a good chance that a court claim will get him to cough up.174 BPM >> CC Balance (0%) -£3,565.99 - Target DFD Dec 2017 >> Loan (Car) (3.1%) -£19,803.74 - Target DFD Nov 20200 -
Ring Judge Rinder. You'll get on telly and stuff.
The camp Judge has been known to rule against the lender if efforts to pursue debt are non-existent. Chase the money in writing and keep copies of everything, as well as notes of any verbal conversations.0 -
-
When was the deadline date0
-
BrianJohns wrote: »When was the deadline date
Today, my birthday:)0 -
Happy Birthday!174 BPM >> CC Balance (0%) -£3,565.99 - Target DFD Dec 2017 >> Loan (Car) (3.1%) -£19,803.74 - Target DFD Nov 20200
-
There's a few hours left...let's see if he comes through in the next 9h then tomorrow go round to collect it...0
-
He's playing on your kindness here. Taking advantage. Do not show you are weak by extending deadlines. OK, maybe I would extend a deadline once, but once reached then I'd take further action and make sure to get as much written proof as possible.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0
This discussion has been closed.
Categories
- All Categories
- 343.1K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.2K Work, Benefits & Business
- 607.9K Mortgages, Homes & Bills
- 173K Life & Family
- 247.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards