He won't pay back the loan

sukysue

I am so sorry this has happened to you. It was so very kind of you too. I am afraid I cannot see how you can get this money from him it is surely your word against his. Difficult to prove .You must feel awful so hurt and stupid you could kick yourself. I speak from experience trust me I know.I don't know what or where you can do or go but I just wanted to give you a little comfort in your plight. At least it was only £1500 it could have been so much worse .

StuC75

Is he a friend on facebook? little bit of public embarassment?

---lee---

Sir_Smith wrote: »

Probably not the first person to do this, but I lent a so called friend some money (over £1500) and he won't pay it back, ignores my phone calls, emails & texts. I don't know what to do as it was never recorded, all of it was lent in cash and I've no agreement? Help MSE please.

Do you have any bank records which show the money being transferred? You could still persue through small claims on the basis that there was a verbal agreement in place. Research letter before action for next steps.

The_Boss

Can't really add to what everyone has said. I lost over £12k giving it to an ex for our mortgage only for her to not add me to it later as promised and then weasel out of paying most of it even after solicitors were involved. Just had to write it off and learn from it.

chesky

---lee--- wrote: »

Do you have any bank records which show the money being transferred? You could still persue through small claims on the basis that there was a verbal agreement in place. Research letter before action for next steps.

Problem with this is that, even if the case goes your way and you're awarded the amount plus costs, you probably still won't get your money. They just won't pay. Then you have to decide whether or not to go back again to court for an arrest warrant. And then, they just go bankrupt. And you've paid twice to go to court.

chesky

PS But I agree about the letter before action - sometimes if people aren't too savvy, such a letter will frighten them into paying you.

But it doesn't always work.

mcfisco

There's a saying that goes something like ...............

"If you lend someone £20 and never see that person again, it was probably well worth it."

£1500 is pushing that theory a bit but at least you know now.

[Deleted User]

rule 1 never lend to family or friends
rule 2 see rule 1

Enfieldian

demontfort wrote: »

Pop round his place for a chat. If he's not reasonable, say you're leaving then accidentally break a few of his prized possessions on the way out and key his car.

How would being arrested for criminal damage help the OP get his money back?