Leant money to a friend

fabforty

steve3502 wrote: »

He works in a respectable position and earns a reasonible salary.

In which case why would he need you to pay a £100 fine for him?

I still believe he will give me the money, and probably shouldn't be asking this but I just wanted to know my options should the worse case scenario happen.

Time to wake up and smell the coffee I'm afraid. He should have paid you back weeks ago, and he hasn't even been in touch. If he's such a good friend and earns such a decent wage, why are you still waiting for your money?

Voyager2002 wrote: »

The advice above is sensible, but there may be more to it than this. Any number of posters have reported using cards to make a small payment off a debt, only to find that the entire amount outstanding has been taken. So it is possible that the "friend" really did give the card number to make the agreed hundred pound payment, and then the thousand pounds were taken without his agreement.

It's also possible that the friend took advantage of OP by taking more than the agreed amount. It's much easier to fob the OP off, than the original debtor.

OP, you are on very thin ice, but I think you could contact your bank and say that the payment agreed to the company in question was for one hundred pounds, and that an error has occurred. At the very least your bank will then compel the company to prove the amount that was authorised, so you will know where you stand.

The bank are not compelled to do anything. OP broke the banking rules by allowing another person to use his card. The moment he explains what happened and how it happened, they are likely to wash their hands of it.

Your next step would be to let your "friend" know that you are willing to let his work know about this problem.

It is nothing to do with his friends work. Give him a deadline for repayment and if he hasn't paid up by then - small claims court.

instaunt

milliemonster wrote: »

I would doubt you can as you willingly allowed your card to be used to make a payment therefore no fraud has actually taken place. You may be better off seeking legal advice now

Aye, your card issuer is there to stop thieves buying stuff - not personality misjudgements. Rather than start making legal threats, you could always start giving "helpful hints" to your friend. Such as - "why don't you take out a credit card and transfer the balance you put on mine to yours? you'll get a 0% balance transfer thing so it's not costing me £10 per month in interest" or "I saw an advertisement for a guaranteed loan company on TV yesterday - do you want the phone number?"

That way, you seem like you're being helpful rather than threatening but your "friend" will get the message that he'd better pay up soon or come right out and say he has no intention of ever paying you - then you speak to the lawyer.

steve3502

I appreciate everyones responses.

If it gets to the point of going to small claims, what is the cost to do this and what time scales are involved.

steve3502

I have spoken to him and he had promised to put the money in a week ago, I am suspecting he may not currently have the money in his acount (he has just got married) but is too proud to say so is just trying to delay things.

savemoney

I agree with post 12

He has got you down for a right mug. Time to take action against him, who needs a friend like that anyway if he abuses your trust, lies and then doesn't pay back

Time to give him ultimatum pay up or face small claims court bare in mind only worth doing if he will pay and has the funds to do so otherwise costs may rise, and you may not get money anyway

Voyager2002

steve3502 wrote: »

I appreciate everyones responses.

If it gets to the point of going to small claims, what is the cost to do this and what time scales are involved.

Court fees start at fifty pounds, but if/when you win the court would order him to pay them.

You might want to ask a lawyer to help you prepare your case: you cannot claim back legal fees.

Your biggest costs might actually come after winning your case and getting a court order. A court order is only a piece of paper, but you could then use it to send bailliffs to collect the money he owes you, but you would have to pay them.

Poppycat

He may also be crafty and claim it was a gift and you gave him your card

greenface

The debt was paid by your card. The company still hold your details to his debt is there anything to stop them taking more if he owes more ??

Poppycat

Thats a good greenface point I would certainly look into that and maybe stop the card say its been compromised

flea72

steve3502 wrote: »

6 weeks ago I spoke to a friend who told me he owed money to a company I won't go into too much details of the issue but there had been problems that he was unaware of in relation to owing the money. The debt had been passed on to an agency.

Anyway he asked to borrow just over £100 but it needed to be paid on the day otherwise it would go to the next stage, and this would have a direct impact on his job. Due to work requirements I was not able to phone up to pay my self so gave him my card number to pay, the company accepted my card from him. The amount taken was just over £1000, I spoke with him once I realised the amount and he said there had been confusion over the amount. I accepted this as he agreed to pay the next week. 6 weeks later he has not given me the money back. 3 weeks of the time he was on holiday (this was booked long before I leant the money to him). He has promised to put money in my account but I have still not seen it.

I have fraud protection on my cards. It was with my debit card the amount was paid with.

Can I speak to my bank and reclaim the money back if he fails to pay in the next week?

you can reclaim the money from your bank, if you deny that you gave him permission to pay, using your card - just contact your banks fraud dept, and it should all follow on quite easily

as he made the phone call, i would presume the debt company would have recordings of conversations, so when it comes to a fraud case, he cannot then try and lay liability at your door, by saying you rang to make the payment

the fact it would be his voice, paying using your details, would be enough proof

it just depends if you want to go down that route with a friend. But tbh, i think the minute they borrowed off you, and didnt repay it, was the end of any friendship

you say they have a good job, but to need to borrow £100 at short notice, to me means, they dont have access to good credit, so that should have rung bells straight away - come on, most people could cover than on an OD, or ask family. you say hes just got married, where is his OH in all this?

F