Loaned a friend and they are not paying back.

Hanky_Panky

Who did you lend him to ?
Was he happy about it ?

John1993_2

macman wrote: »

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.

Well, that's not really how it works, is it? A civil case will rest on balance of probabilities, not "proof", and case law tends to suggest that a payment made not for goods or services will normally be assumed to be a loan in the absence of evidence to the contrary.

Basically, if the OP alleges it was a loan, and the other guy says it was a gift, it'd be quite a surprise if the court did not take the OP's side.

Of course, if it was lent to the company it may not even be worth pursuing, but if lent to the person that's a different matter.

Revorocks

Brock_and_Roll wrote: »

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.

I totally agree, currently trying to track him down as I would like to see him in person about this.

Does anyone know effective ways of tracking people or if hiring someone is good? I've been googling for days and it's found lots, but mainly previous business address's etc.

Revorocks

macman wrote: »

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.

How do you register as a creditor?
Who would I contact?

Hanky_Panky wrote: »

Who did you lend him to ?
Was he happy about it ?

Sorry, what?

John1993 wrote: »

Well, that's not really how it works, is it? A civil case will rest on balance of probabilities, not "proof", and case law tends to suggest that a payment made not for goods or services will normally be assumed to be a loan in the absence of evidence to the contrary.

Basically, if the OP alleges it was a loan, and the other guy says it was a gift, it'd be quite a surprise if the court did not take the OP's side.

Of course, if it was lent to the company it may not even be worth pursuing, but if lent to the person that's a different matter.

I would be surprised if a judge did not side with me. Only thing against me is he could deny that the texts are sufficient evidence, and the fact this company is dissolving.

He never stated in the messages it was for the company, he said it's a short term loan for the deal. As far as I was concerned the money was for him, for the deal. It's only clicked recently that the bank account name matches the name of the company.

[Deleted User]

Revorocks wrote: »

Only thing against me is he could deny that the texts are sufficient evidence

Particularly if the texts were sent from a PAYG phone.

[Deleted User]

Revorocks wrote: »

How do you register as a creditor?
Who would I contact?

https://www.gov.uk/register-creditor-bankruptcy

Although you should be aware that you're going to be so far down on the list that the chances of getting your money back this way -- if you register as a creditor of the company -- are almost nil.

Perhaps you should check if he's personally gone bankrupt recently? This register may be a good place to start: http://www.bis.gov.uk/insolvency/personal-insolvency/individual-insolvency-register

If the company is being liquidated and you wish to approach this as a loan to him as a person you'll need to find his address to proceed. See if you can find a local private investigator?

mailmannz

Why not go around to one of his businesses and confiscate £6k worth of stuff?

Regards

Mailman

superbigal36

Yes lets be honest this is an eye for an eye territory now.

FireWyrm

mailmannz wrote: »

Why not go around to one of his businesses and confiscate £6k worth of stuff?

Regards

Mailman

Much as that might be appealing as an idea...for about 5 minutes, the OP should remember that this 'advice' constitutes theft and s/he could well be arrested, charged and potentially jailed for it.

DCFC79

FireWyrm wrote: »

Much as that might be appealing as an idea...for about 5 minutes, the OP should remember that this 'advice' constitutes theft and s/he could well be arrested, charged and potentially jailed for it.

And still be 4k down.