Money back?

Pollycat

Scuf said:

Hello guys,
I would like to know if there is any chance of getting my money back? Last year( December) I have borrowed my friend with £500 ( online transfer) and looks like he doesn't want to give my money back. When a friend asks to borrow money it's a bit difficult to refuse, especially when is only £500. Is not the first time when I borrow him  money and every time was very difficult to get them back. The only proof I have is the bank statement . The only person who knows about this is my girlfriend. What can I do ?
I would really appreciate your help. 
thanks.

What do you meat 'it looks like he doesn't want to give the money back'?
Haven't you asked him for it back?
Didn't you discuss repayment timescales when you lent him the money?

Marvel1

Scuf said:

I see your point.
In future, if I do a written agreement( a hand written piece of paper) will it help?

Just say no and don't do it.

oystercatcher

Scuf said:

I see your point.
In future, if I do a written agreement( a hand written piece of paper) will it help?

In future you say, you haven't paid back what you borrowed last time . I am not lending you any more money.  then whatever they say you say No !  If you stay strong they will give up asking.

jbainbridge

In the future??
Repeat after me .. NO 

Scuf

Pollycat said:

Scuf said:

Hello guys,
I would like to know if there is any chance of getting my money back? Last year( December) I have borrowed my friend with £500 ( online transfer) and looks like he doesn't want to give my money back. When a friend asks to borrow money it's a bit difficult to refuse, especially when is only £500. Is not the first time when I borrow him  money and every time was very difficult to get them back. The only proof I have is the bank statement . The only person who knows about this is my girlfriend. What can I do ?
I would really appreciate your help. 
thanks.

What do you meat 'it looks like he doesn't want to give the money back'?
Haven't you asked him for it back?
Didn't you discuss repayment timescales when you lent him the money?

I have borrowed the money last year ( December) and since September this year I keep telling him that I need those money. I even told him to give me £100 every month and he keeps saying "yes yes, I'll do". When I asked him why he hasn't transfer them, he keeps saying the same thing " yes yes, I will " 
One more thing, when I've done the transfer, as a reference I wrote "loan" - not sure if this helps.

Marvel1

Scuf said:

Pollycat said:

Scuf said:

Hello guys,
I would like to know if there is any chance of getting my money back? Last year( December) I have borrowed my friend with £500 ( online transfer) and looks like he doesn't want to give my money back. When a friend asks to borrow money it's a bit difficult to refuse, especially when is only £500. Is not the first time when I borrow him  money and every time was very difficult to get them back. The only proof I have is the bank statement . The only person who knows about this is my girlfriend. What can I do ?
I would really appreciate your help. 
thanks.

What do you meat 'it looks like he doesn't want to give the money back'?
Haven't you asked him for it back?
Didn't you discuss repayment timescales when you lent him the money?

I have borrowed the money last year ( December) and since September this year I keep telling him that I need those money. I even told him to give me £100 every month and he keeps saying "yes yes, I'll do". When I asked him why he hasn't transfer them, he keeps saying the same thing " yes yes, I will " 
One more thing, when I've done the transfer, as a reference I wrote "loan" - not sure if this helps.

https://www.gov.uk/make-money-claim
Being nice is over.

Voyager2002

Marvel1 said:

https://www.gov.uk/make-money-claim
Being nice is over.

You can use that link to take him to court. The initial fee that you pay is about £50, which is added to the amount claimed.

If it gets to court the judge will listen to both you and him to decide whether the money was a gift (unless you have documentation proving it was a loan). The judge may or may not order him to repay the money plus court fees.

If he decides to ignore the court and not bother paying there is not much you can do. His credit rating would be ruined, but probably it is not good already.

thorsoak

If you do decide to take him to Court, please be clear on two points:  you LOANED him the money  and he BORROWED it from you.   If you describe it in the way you have described it to us, your case would be thrown out of Court.

Valli

Before you take him to court you need to write a Letter Before Action stating the facts and giving him a timeframe within which he should repay the money he was LOANED by you.  In the LBA you state that, should he not repay you will commence legal action to recover the full amount of the loan plus related costs.  Kept a record of your action with dates.  Keep receipts of expenses incurred.

pinkshoes

Scuf said:

I have borrowed the money last year ( December) and since September this year I keep telling him that I need those money. I even told him to give me £100 every month and he keeps saying "yes yes, I'll do". When I asked him why he hasn't transfer them, he keeps saying the same thing " yes yes, I will " 
One more thing, when I've done the transfer, as a reference I wrote "loan" - not sure if this helps.

Yes! That makes a HUGE difference.

You LOANED him the money (not borrowed - he is the one doing the borrowing).

Dear <friend's name>
On <date> I loaned you the sum of £XXX which you agreed to pay back by DATE. I would now like this money paying back as soon as possible, so please return the full balance of £XXX or set up a direct debit to repay in instalments by DATE otherwise I will have to take further action to retrieve the money. 

Give them 28 days to pay the money back. Have they got the money to pay you back?