Lent a friend money

Voyager2002

DCFC79 wrote: »

Google small claims court.

This explains it

https://www.moneysavingexpert.com/reclaim/small-claims-court/#smallclaim

Except that for this amount of money the small claims track is not applicable.

sourcrates

DCFC79 wrote: »

Google small claims court.

This explains it

https://www.moneysavingexpert.com/reclaim/small-claims-court/#smallclaim

Voyager2002 wrote: »

Except that for this amount of money the small claims track is not applicable.

Online only via the mcol website.

DCFC79

Voyager2002 wrote: »

Except that for this amount of money the small claims track is not applicable.

Under the "Keep the claim below £10k" link it says "For claims beyond the new £10,000 limit you're likely to end up in what's called the 'fast track' or the 'multi-track' system", it also says legal advice should be sought.

Maybe I misunderstood what I read.

Mr.Generous

Some money will be repaid for some time, I'd be amazed if you get more than £10k back.

HampshireH

Thats the friendship down the drain.....

Goodluvk in getting your money back. Your ex friend has shown extremely poor judgement & lacl of respect for you.

40k out of pocket is painful but was obviously affordable. But it must be equally if not harder to accept that you went above and beyond for this person to have such little regard for you back.

custardy

Samuel12345 wrote: »

Basically I’m just wanting to know if it’s possible to get money from his wages sent to me. Let’s keep the personal insults out of this please.

What was the original repayment plan vs £500 per month?

poppasmurf_bewdley

Lending money to friends is nearly always a bad idea, but i'm sure you realise that now.

If you think he still has the money (or enough money to pay you), then after you take him to court and win, you could apply for a garnishee order. This will freeze his bank account(s) until the money is sorted out.

See: https://www.pricebailey.co.uk/blog/garnishee-order/
for an idea of what can be done.

Garnishee Orders are not well know, but can be very effective in the right circumstances.

ciderboy2009

OP - has your friend actually defaulted on the original repayment agreement? It's not clear if the £500 per month was agreed before or after the loan had been made.

If the only reason you're loking to take it to ourt is because they didn't use it for its intended purpose then you're unlikely to get a judgment against them.

From memory, Money Claim Online can only be used for claims of up to £10,000. You'll therefore need to issue a claim directly in the County Court.

As you are well above the claim limit for the Small Claims track then there is the possibility of costs being claimed by whichever party wins the case.

Because of this I would strongly advise you to take legal advice before you attempt to issue anything.

sourcrates

ciderboy2009 wrote: »

From memory, Money Claim Online can only be used for claims of up to £10,000. You'll therefore need to issue a claim directly in the County Court.
.

Its now £100.000 limit.

dealer_wins

Very expensive lesson, almost certain to lose nearly all that £40k.