We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Lending money to family

auction_bidder
auction_bidder Posts: 4 Newbie
edited 27 October 2010 at 5:01PM in Loans
I lent 1 grand to a family member. They made 2 payments all of which were complete hassle to get. Now they havent paid any more so I am left with the loan and debt.

I have paid the 1k into their account and received 5 interest payments back from their account to mine but that is the end of the payments period.
There is no negotiation possible.

Do you think I could get the money back through court? Small claims is 5K. Should I go this route?

Any one have any ideas? I know it is easy to go to court but do you think I would win?

Regards,
David

Comments

  • Emmzi
    Emmzi Posts: 8,658 Forumite
    1,000 Posts Combo Breaker
    Depends. If they have no cash or income to repay you its pretty much good money after bad. Plus, if you win at court, you then need to go back to enforce the judgement which may mean eg arrestment of tehri earnings, bailiffs.. it can get pretty nasty.

    There is a sticky thread on this topic you might find interesting reading.
    Debt free 4th April 2007.
    New house. Bigger mortgage. MFWB after I have my buffer cash in place.
  • firesidemaid
    firesidemaid Posts: 2,140 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    are any other family members aware of the loan/situation?

    could they help to share the burden of the debt/loan?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.9K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture