Loaned a friend and they are not paying back.

worried48

He may have lost his phone and not have your number anywhere, he may be in hospital, he may have dropped dead, or of course he may be avoiding you. I suggest writing to him care of any addresses of properties or businesses you know of.

Revorocks

worried48 wrote: »

He may have lost his phone and not have your number anywhere, he may be in hospital, he may have dropped dead, or of course he may be avoiding you. I suggest writing to him care of any addresses of properties or businesses you know of.

Must've found about 15 different addresses for various companies he's had in the past so would have to send out quite a few letters.
I will consider it though.

Thanks for the link to DueDil. It's been very useful.

I've been digging and his most recent company is currently filed for First Dissolution (Gazette).

This worries me. If it does dissolve, does he not have to pay me back the money?

The account name I sent the money too matches the company name... Is there anything I can do to stop it?

DCFC79

Revorocks wrote: »

Must've found about 15 different addresses for various companies he's had in the past so would have to send out quite a few letters.
I will consider it though.

Thanks for the link to DueDil. It's been very useful.

I've been digging and his most recent company is currently filed for First Dissolution (Gazette).

This worries me. If it does dissolve, does he not have to pay me back the money?

The account name I sent the money too matches the company name... Is there anything I can do to stop it?

What I would do first is go and physically see if any of the businesses are still running/open etc or shut up shop, you can then rule out who not to send letters too.

You can put a claim in but if he doesn't have the money to pay you back then he can't can he ?

poppasmurf_bewdley

Revorocks wrote: »

Must've found about 15 different addresses for various companies he's had in the past so would have to send out quite a few letters.
I will consider it though.

Thanks for the link to DueDil. It's been very useful.

I've been digging and his most recent company is currently filed for First Dissolution (Gazette).

This worries me. If it does dissolve, does he not have to pay me back the money?

The account name I sent the money too matches the company name... Is there anything I can do to stop it?

To add to what I have already said above: He has all the traits of a serial swindler. If you dig deep enough, I am sure you will find plenty of people who he has also swindled just like you.

Unfortunately, he's done you up like a kipper. If you lent the money to his (Ltd?) company, and it's applying for administration (or being put into it by creditors) then you have seen the last of your £4k.

EDIT: Indeed, if his company goes into administration and he then paid you back in full in preference to other creditors, he would be acting illegally and would be leaving himself wide open to prosecution.

Nice_Weather_For_Ducks

Bottom line is your £4000 is gone. Whether you just accept it as a lesson in life, or try to chase it for the next 5 years, you will still be £4000 down!!

[Deleted User]

The problem with texts is, you can't prove he sent them.

vm360

Nice_Weather_For_Ducks wrote: »

I am going to bookmark this thread, and if any of my friends get upset that I refuse to lend them money, I will show them this to make them understand its nothing personal.

Great idea, I will do the same

dotdash79

4k down isn't the worst situation you could have found yourself in.

He could have paid you back and then, borrowed more then vanished. Or came asking for an extra grand at a time.

Brock_and_Roll

Revorocks wrote: »

Hi,

The saying is true. "Neither a borrower or a lender be"

Indeed that is particularly true in relation to family finances.

However, I also go by "revenge is a dish best served cold" - bide your time and this guy will resurface. I am sure you will think of something appropriate. From experience it is always better to hit back harder than you were hit if you want to avoid being taken for a mug or a soft touch by people who clearly have less morals and decency than you.

macman

Revorocks wrote: »

The money was done by bank transfer, not cash. Is that enough to prove the debt? He did say he received the money on the texts too...

Also yeah I know it was stupid. Really regretting it now. Should have given myself some insurance or made him sign something.
Infact, shouldn't have lent to him in the first place.

Also I am working on trying to track him down through mutual contacts. He is usually quite involved with people so it should not be too difficult provided he hasn't done a runner...

No, because it doesn't prove that he agreeed to repay you. He could just allege that it was a gift or long term interest fee loan. He doesn't have to prove anything-you do.
Since you have now told us that you lent the money not to him but to his company, then he doesn't personally owe you anything-you need to pursue a claim against that company, though if it's ceased trading then I doubt that it now has any assets to pursue. All you can do is try and register as a creditor with the administrator-though you don't really have any paperwork to prove the debt. Try and make contact with his other creditors, by the sound of it he has pulled this trick on others too.
The reality is that you are unlikely to get any of your money back.