Please help me - friends loan a real problem

frenchmaiden

hI there I cannot believe what my ex best friend has done to me - we ve known each other for 24 years however since he started a relationship with a lady two years ago he has lost touch with all his friends including me.
He leant me 5 years ago 47K and I have paid him back 20K already - there was no written agreement just him saying "pay me when you can" so I have been sending £1K and £2K etc when I can- I asked him for an excel spreadsheet 4 years ago and noticed that he was levying interest on me at 6% which apparently he can do - it was a fate compli to me really - anyway - we have carried on and in August last year I received an email saying that he wanted to put the loan on a more formal basis and wanted regular monthly agreed payments - then 30 mins later another email saying that he had decided he wanted the full amount within 2 days! I could not raise that sort of money in that time - last year also was hit by recession - long story short I have now been issued with a CCJ and understand that his solicitors are trying to get a third party debt order against me. I have consistently offered 20K in full and final settlement which I would get via a loan and have also offered monthly payment plan - all my efforts have been ignored and I now feel as though this is personal - his girlfriend is jealous and wants me bankrupt - can anyone tell me what I can do other than go bankrupt please?

CLAPTON

did you dispute the CCJ in court?

Tixy

How much is the CCJ for?
Looking at all your repayments and assuming a 6% interest rate do you agree to the amount of the CCJ?

What did you do when you received court papers? did you complete them? did you ask to pay by installments?

frenchmaiden

The court hearing was originally in his town which was miles from me and I could not afford to attend however I applied for a variation of order and brought it to court nearer to home - when the CCJ was ordered and I applied for the variation the judge did not really listen to my legal aid solicitor and the ccj was unheld. I was advised that there was then nothing else he could do so no I have not yet appealed against the CCJ can I do this now?
The CCJ is for approx £38,000 I have had his solicitors and court costs added on to debt along with interest.

frenchmaiden

I expressed my interests to the judge in court to pay by instalments or to try and secure a loan to pay in full and final settlement however he chose not to exercise his right to allow me to pay by instalments! I am self employed and have had no income since August 2009 so it was very difficult to put a regular income down on the financial sheets - I think the legal aid solicitor made some silly offer like £5.00 per month or week! I have subsequently written to the claimants solicitors and offered 20K in full settlement or monthly payments -I just dont get anything back other than he will speak with his client - it has been like speaking with a brick wall what can I do next ? Is there any way I can give them one week to accept an offer or send a cheque on the basis that if the claimant cashes it it will be in full settlement?

brightonman123

not sure how a ccj could be reached, with no contract (formal, or otherwise), to prove a loan even took place?

frenchmaiden

No me neither there was no written agreement however I suppose the excel spreadsheet I asked for was proof that I had borrowed some money from him and was paying it back. The solicitor on legal aid who was a little tame to say the least said that a verbal agreement is deemed as good as a written one! can anyone tell me what the hell I can do next please?

[Deleted User]

if he has been charging interest is he declaring this "profit" to HMRC?

frenchmaiden

good point i have raised this now with them. I have now received a third party interim debt order on three accounts - all are overdrawn and have been frozen by the court until 11th May 10 when a hearing for the final third party order is to be heard. I have today written a complaint to the courts about the judge - also asking why i m being charged 8% interest now it seems and I have to pay this for the 5 weeks even that I m not allowed to pay the debt back! this seems immoral to me - please please can someone help me?????

lordcharles2001

Hello, I am new to this site, boy I like what I have been reading in regards to unenforceable loan. I requested for a copy of my agreement last year and notice that the copy that was sent to me had my signature on both places for myself and lender. Please how do I go about this?

frenchmaiden

Hi you should write you own thread for this because you ll get more answers that way