Money lent to a friend - Not Repaid - Seemingly no intention of doing so

[Deleted User]

These threads always run the same course. Good advice mixed with arguments about the legalities.

My only advice to the OP is to continue encouraging his "friend" to re-pay. Don't involve the wife or the mother and forget about any court proceedings.

Any money returned is a bonus and the whole debacle should be a lesson learned.

mither wrote: »

sending them one message letting them know what he has been up to seems reasonable to me.

But will it seem "reasonable" to them?

Gaz83

mither wrote: »

In response to the lending license bit I would think that applies to lending to make a profit? I also think there is a big difference between informing someone and/or politely asking for their help and threatening/harassing them.

The poster "Marktheshark" doesn't know what he's talking about in regards to the legality side of things.

Re: your second point - it matters how the wife and mother perceive it. Not how it's intended to come across.

I know I'd be !!!!ing raging if someone went into my mother's business because my sister owed them £700, for example.

mrsp1987

According to the Money Advice Service website you only need to get a license to lend to friends and family if you do it regularly and make a business out of it.
Otherwise everyone would legally require a license to lend a mate a tenner at the pub!

patman99

I lend via ZOPA. I don't do it as a business as I have a job. According to ZOPA (who are fully regulated and well clued-up on lending) no license is needed.

mither_2

Thanks all.


He is at least returning my calls now. I'll persist a little further. Points taken from many of the excellent posts.


It is indeed an absolute debacle. If I get anything back its a bonus.