How to return my money
robbed99325
Posts: 7 Forumite
in Loans
So My 'best friend' came to me and told me that he's starting a business and he wants some money and asked me if i want to be his partner i said yes and i gave him the money 2 days later i told him that i changed my mind i don't want to be a partner and that was before we did anything..
After a month i called him and asked for my money he said he can't pay me back right now because he doesn't have any, few months later i call him and ask about the money he says that he bought a car and he doesn't have any (but he actually he had money at the time to pay me back) so i said alright you can pay me later so 2 months later i called him and he says that i was his partner and he lost money on the business so i can't get my money back i asked him nicely many time but that's not working..
how can i get it back? if i go to small claim court do i have a chance? i gave him the money through bank transfer and i have a text message on the phone of him saying the he's not going to give it back.
After a month i called him and asked for my money he said he can't pay me back right now because he doesn't have any, few months later i call him and ask about the money he says that he bought a car and he doesn't have any (but he actually he had money at the time to pay me back) so i said alright you can pay me later so 2 months later i called him and he says that i was his partner and he lost money on the business so i can't get my money back i asked him nicely many time but that's not working..
how can i get it back? if i go to small claim court do i have a chance? i gave him the money through bank transfer and i have a text message on the phone of him saying the he's not going to give it back.
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Comments
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Without evidence of some kind of an agreement, it'll be your word against his.
But the threat of small claims court may encourage him to pay something back. Though it sounds unlikely.0 -
Does he have documentation to show you are a partner in the business?
Do you have paperwork to show that this was a loan to the business or loan to the individual?
Worth searching on here for "loan to friend" and you will find a number of threads0 -
it was a loan to an individual
he has a document that shows i am a worker not a partner also i have a phone call recorded of him admitting that i left business before we did anything0 -
Do you have any documents in regard to the loan? the rest is just noise at the moment.Thinking critically since 1996....0
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Documents like what? i have a document of the transfer0
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Do you have an documentation to indicate that this was a loan and not a gift?0
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No i have a text message of him saying that he's not giving it back until a certain date does that help?
and is it possible for him to prove that it was a gift?0 -
It is not down to him to prove he does not owe it, it is up to you to prove he does. Without documentation to prove it was a loan that will be difficult.0
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1, He is not your friend.
2, He has stolen from you/ripped you off.
3, Not much hope at all of getting your money back.
It looks like you will have to chalk it up to a learning experiance, and never lend money to anyone (Friends, family included) again.0 -
well thanks for the reply's, i am not lending money to anyone anymore that's for sure0
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