long term loan to friend

tiger135

the friend does not deny the money is owed and still believes they will pay it back . what would i need to pursue it legally? id be happy with small weekly or monthly payment , like hes already got with the iva. he pays 100 a month for that   if i get the debt written up and he signs it does this hold weight? 

elsien

Did he not declare the money that he owed to you when he took out the IVA?

Fairly sure he should have included the money owed to you in it. Any additional money paid to you instead of going into the IVA would count as a preferential payment which isn’t allowed.

tiger135

no he has not done this , i am not familiar with iva's but after a quick search it looks like he should have included all debts including friends and family.
can debts be added to an iva later?

kinger101

Why enable someone with a poor attitude towards credit to get into more debt?  

tiger135

didnt know he was bad with credit when the loan began, what ive learned since would have changed my view and wouldnt have loaned anything. but i cant go back now  

_Penny_Dreadful

tiger135 said:

didnt know he was bad with credit when the loan began, what ive learned since would have changed my view and wouldnt have loaned anything. but i cant go back now  

You knew the first time you lent him money and he failed to pay it back but it seems you continued to lend him money after this.  In the words of Elsa, "let it go."  I too have learnt the hard way about friends and money.  It's much better for you when you decide to stop flogging the dead horse.

tiger135

let it go and be done with him..  
cut all ties.. delete numbers.. 

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/comment/80026112#Comment_80026112

Yes, the person is not a friend, they are someone who is effectively stealing from you.

tiger135

he will openly admit he owes the money and doesnt dispute it, and he would sign something to put it in writing. on the basis is there any way i can get a small regular amount from him via the iva or otherwise?
 it transpires he officially has adhd which explains a little why he makes stupid decisions which he cant follow through with and changes his mind like the weather. 

retiringtoosoon

Does anyone not have adhd?