Owed money by friend - what can I do?

arcon5

pinkshoes wrote: »

Personally I'd phone "friend", and tell them you really need the money for the laptop, and if they don't give you it in 7 days and collect the laptop from you, then you'll have to sell it for the best price they can, and ask them for the short fall to cover any loss, and that you may have to take them to court for it if they won't pay it.

I second this.

You would definately have a case to sue your friend for any losses (difference in price, ebay fees and perhaps interest on CC). Whether you would or not is a different matter!!

unholyangel

You loan a friend some money and never see that friend again, it was probably worth every penny

somethingcorporate

unholyangel wrote: »

You loan a friend some money and never see that friend again, it was probably worth every penny

Just be thankful you didn't lend them £10k, like some of the poor suckers on the lending money to friends and family forum!

fluffnutter

You're in a far better position than most who post on here about friends owing them money. Let your mate know that he/she has, say, a week to come up with the cash in exchange for the laptop else you're going to sell it on. I appreciate you'll not get anything like cost value for it, but it's better than nothing. I personally wouldn't bother trying to recoup anything else, e.g. via small claims court. You'll get a moral victory perhaps but what if your friend simply refuses to pay you? It's more hassle than it's worth.

If they don't come up with the cash, try to return it first though. You never know.

And lastly, don't lend money to mates unless you're prepared to write it off. But I guess you've worked that one out already