Getting money back from Friend!

helencater

Hi just wondered if anyone would have any advice on this for me. Me and my husband lent a friend (who at the time my husband was in partnership with) £17k this was to be used to buy a pub! We signed contracts etc and had an agreement that he would pay us £500 back a month, we had the first 2 payments and since then my husband is no longer in partnership with him, we have contacted him twice and have been promised by him that the money will be transferred but the money has still not shown in our account. We are now concerned that this 'friend' will run back to London and we wont know where he is. Is there any way we can withdraw from our contract as we feel we can no longer trust this person to pay up for the next 3 years.

Sorry if this is confusing!

homer_j_3

Clearly without reading the contract, how can anybody tell you what you can or cannot do.

I would seek professional legal advice. It could be an expensive mistake this for you but hope that it doesn't end up as one.

helencater

We have decided to go to a solicitor who was very helpful and have now started legal action, thanks for your help though!