Money Lent to Family Member

minniedavies

Have a 'situation' where I helped someone out on my credit card and now I am having trouble getting the money back from them. I also got out a loan (in my name) for this person also and am having trouble getting the money back from that too. In the meantime (last 2 years) I am having to cover the repayments for all of this which is killing me. I am guessing because everything is in my name I dont really have a leg to stand but I just thought Id throw it out there just incase there is a glimmer of hope and someone could help or offer some advise?????

nikki1520

Unless you have a signed agreement, that is entirely legal, sorry to say it, but you're toast! If you have any proof of the agreement at all, the small claims court might be useful - depending on the person, just the papers in The post might scare them into sorting you out, but I do think it unlikely after 2 years

Sorry not to be more positive- good luck

bouncydog1

Head on over to the loans board where there is a thread on lending money to friends and family.

Depending on how everything was set up all may not be lost - however if there is nothing in writing then it is all down to you.

Can you get the goods back?

Alternatively if you have evidence that you loaned them money and evidence of how it was to be repaid, and evidence that they have defaulted on the agreed repayments, you may be able to issue proceedings against them in the small claims court, which may frighten them into paying.

However if it's a family member, depending on the amount, you may have to write it off - or ask another member of the family to intervene on your behalf?

agrinnall

Spam at posts #4 and #5 reported.

Reesy1981

We have had a special visit guys! The above poster is a saint!

Mind you, he is probably only a saint of his own bull crap.