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Lent money to a friend, how to get it back
As the title says I lent money to a friend back in march. This was a loan for £1,200. It was supposed to be for one week only, to help out a friend who claimed to be stuck abroad. I have repeatedly asked for the money back . So far I have got £200 back, back in april and nothing but excuses since.
How do I go about getting the money back?
The proof I have is text messages where he admits that it is a loan and not a gift and also the value of the loan. The texts also show that the term was supposed to be one week only and its not 6 months later.
The only worry I have about doing a small claim is that; I wont get my money back, he'll know I've tried to take him to court and then they'll be no way of ever getting it.
That I'll have to travel down to London, to go to a court (from Scotland) - I was a student in London at the time, now one in Scotland.
Having to actually be in a court, as I do have some issues with anxiety.
With the evidence I have will I be sure to get my money back? how likely is it that i'll have to go into a court, even though my evidence is him saying yes its a loan, and yes it's taken a long time to pay.
Thanks in advance
How do I go about getting the money back?
The proof I have is text messages where he admits that it is a loan and not a gift and also the value of the loan. The texts also show that the term was supposed to be one week only and its not 6 months later.
The only worry I have about doing a small claim is that; I wont get my money back, he'll know I've tried to take him to court and then they'll be no way of ever getting it.
That I'll have to travel down to London, to go to a court (from Scotland) - I was a student in London at the time, now one in Scotland.
Having to actually be in a court, as I do have some issues with anxiety.
With the evidence I have will I be sure to get my money back? how likely is it that i'll have to go into a court, even though my evidence is him saying yes its a loan, and yes it's taken a long time to pay.
Thanks in advance
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Comments
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You don't have to go to London, you can do the whole thing online.
Usually loans between friends are unenforceable as there is usually not an intent to create a legal contract which you are prepared to enforce in court. Loans where the amount to be repaid and the repayment terms aren't clearly set out on paper are also hard to enforce.
As you say yes you can take it to court but that'll get you a CCJ and not guarantee payment. You would then need to go back to the court to get a warrant of execution to allow you to get a bailiff to go visit them and seize goods but if they've not got anything then there's nothing to seize and it'll cost you money.
Ultimately you can never be guaranteed you'll see your money again which is why you don't lend money to people you can't afford to lose.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
If I were you I would chalk it up to experience.
Never lend money to friends, or even family, there have been 100s of similar situations to yours on here where it tears friendships and families apart
If you ever want to help out, gift them the money, and if it gets returned its a bonus.0 -
I think it's time MSE mods put all these posts into a sticky as all the advice which will no doubt come could literally be cut and pasted.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0
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Does the borrower value his kneecaps?0
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If you make a claim and get a CCJ then even if he doesn't cough up the money, a CCJ, epecially an unsatisfied CCJ (if he doenst/cant pay) will cause him a lot of issues getting any sort of financial help such as mortgages loans mobile phones etc.
So it might be worth doing it for that fact alone.0 -
JayMawds82 wrote: »Does the borrower value his kneecaps?
Leg breaker finance!0 -
he has 100% got the money and im so sure of this. My main worries are: the outcome will be in his favour due to evidence mainly text messages, although i do have a phone call recording and records to see it send from my account to his. My other worry is actually going into a court?0
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he has 100% got the money and im so sure of this. My main worries are: the outcome will be in his favour due to evidence mainly text messages, although i do have a phone call recording and records to see it send from my account to his. My other worry is actually going into a court?
If you don't have the stomach for small claims court then you will just have to chalk it up to experience and move on with your life. There isn't a magic third option available to you, well certainly nothing legal anyway.0 -
Please someone correct me if I'm wrong, but I'm almost completely certain you won't have to step foot in a court. I believe it's all done online and can be dealt with on the papers ie no need for you to be present or give oral evidence.Debt Totals July 2019::
[STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0 Total £7,0000 -
Silver_Queen wrote: »Please someone correct me if I'm wrong, but I'm almost completely certain you won't have to step foot in a court. I believe it's all done online and can be dealt with on the papers ie no need for you to be present or give oral evidence.
If the other party denies owing the money and/or files a defence then you do physically have to go to court.
https://www.moneysavingexpert.com/reclaim/small-claims-court/
https://www.gov.uk/make-court-claim-for-money0
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