Family Loan

Rebecca0106

I leant a family member some money a while ago and they have made regular payments back for over 2yrs but still owe over £1000.
Over the weekend we have had a family fall out. If they stop paying the money back is the money lost or can I do anything legally? 

[Deleted User]

Small claims court, along with your evidence of the agreement.

Grumpy_chap

Is this your son?
https://forums.moneysavingexpert.com/discussion/6190427/please-could-someone-help-build-a-calculation-spreadsheet-in-google-sheets#latest

jonesMUFCforever

Rebecca0106 said:

I leant a family member some money a while ago and they have made regular payments back for over 2yrs but still owe over £1000.
Over the weekend we have had a family fall out. If they stop paying the money back is the money lost or can I do anything legally? 

Realistically, yes the money is lost if they stop paying.

[Deleted User]

Family (or friends)  plus  money never ever mix, just read some of the dozens of post on mse that prove the point.

bris

The money isn't lost if you take it to the small claims court.

The actions that have already taken place would be the proof the loan existed. The actions are the family member making regular payments. The small claims court looks for probability as well as proof. They would want to know why the family member was paying you installments if it wasn't for a loan. For the cost of a small claims action the gamble would be worth is as the odds would be on your side.

femalemonarchfemalecanine

venison said:

Family (or friends)  plus  money never ever mix, just read some of the dozens of post on mse that prove the point.

they can do - people are not really going to post  on here about how they lent their brother £5000 and he paid them back as agreed and took them for a nice meal to say thanks, are they?

though the usual caveat of don't lend what you are not prepared to give applies

[Deleted User]

femalemonarchfemalecanine said:

venison said:

Family (or friends)  plus  money never ever mix, just read some of the dozens of post on mse that prove the point.

they can do - people are not really going to post  on here about how they lent their brother £5000 and he paid them back as agreed and took them for a nice meal to say thanks, are they?

though the usual caveat of don't lend what you are not prepared to give applies

ok let me word it differently the general consencous is that the 2 don't mix, in the majority of cases people try and borrow off friends or family because their credit history is a car crash and they can't borrow from their bank etc.
Happy now? Good.