Lending money to friends & family

Barbra50

Hi all
My brother loaned me £20000 6 years ago and we have a loan agreement which give him 20% of net equity when it is sold - now I have sold my home subject to contract which give more than 100% sales figure
I know that I will pay him the 20% but I would like to know what growth for that £20000 now if I had go to the banks 6 years ago
Barbra50

financestrategy

well thats a sad news.
but its not your stupidity, it happens. if you know about his intention well before time you would have surely not given him the amount. it is later that you came to know about the fact. and you cant help things which are beyond your control. do you have any reciept of the payment???
personally i feel the threats will go against you try to bring in police in this matter. they'll investigate and put him behind the bars. appoint a good lawyer which can guide you throughout the case.
wishing you luck

RikK_2

Hi,

Is there a template (similar to the bank claim that is provided on this site) that I could use to claim monies back from a friend?

This would be real useful to a lot of people on here which would 'spell out' in no certain words i.e. legal action etc etc to the debtor the creditors position.

Regards,

Rikk

fazthou

sounds familiar. my girlfriend is in the same boat got a loan for a boyfriend now he is refusing to pay anymore.

Is it worth trying to persue?

capn_phil68

I know that hindsight is an exact science, but my rule of thumb is any lending to family or friends is a gift not a loan.

hamidg84

Im very new to this forum so hope i will get top level suggestions!!!

********Story starts here*******

I advertised my laptop in local bargain pages. This girl rang me and asked if i had that for sale? I said yes!! She asked me to drop it off at her flat. I went there, she took the laptop and gave me cheque ( My Mistake for taking cheque )

I was so happy and deposited cheque into my account next day and balance was shown in my account after 2 days.. I was very happy and satisfied with the deal.

She rang again and asked if i had another laptop as her BF wanted one. I said yes.. she came to my home this time and gave another cheque.. deposited and got cleared.. Happy again.

2 days later, she rang again and asked if i had 2 more as her parents needed as well and i was like Good good.. gave her 2 more and took 2 cheque.. Again money was in my account.....

Disaster in my life when i noticed all cheques got bounced and received letters from HSBC saying, Refer to Drawer

I then checked my account and money had been debited by bank and i was over drawn with £1300.

I spoke to her and she claimed to be in spain but she was at her flat. Asked for money and she said no worries i have got loan and will clear the balance.

Gave me date and time to meet in bank... 8:30am received txts saying my son has passed away... !!!!!!!!.. she hasnt got no son....

At this stage i knew there was something fishy so i went to her flat... She offered another cheque saying money is in her account and will be credited.. I took the cheque again and made her write statement if it get bounced again, i will take legel action.. We both signed and my bro witnessed.

Went to bank, deposited and received call later from bank saying we are not going to deposit... Rang her and told her the this... She refused to believe my words but showed her Recipet from bank.

20 May, she was supposed to give money at 12pm.. Rang her at 10pm to make sure and she said i wont give you money.

Went to her area, parked the car next to her flat and called up police.. Police came and said its civil matter not criminal however she assured police to give money but only in Police station on saturday at 12pm..

I asked police to make her write another statement about all this.. She did and signed..

I have been to police station today but nobody was there.. She isnt answering her phone now...

Now at this stage, what is there for me in law?? Should i contact debt collectors or Court??

I fear she will move out from flat but i have got her Driving license with old address.

I know where she plays tennis... I would be very thankful if you guys could come up with fastest solution as i need money...

Thanks for taking time to read my sad story

mrsjanejane

Hi,

Advice needed, my mum has decided that she wants my partner out of my life and mainly due to the fact that she has no control over my family set up as a mature adult. Anyway, she lent me and my partner 60k to get a house and it was agreed we would pay back monthly interest at bank rate and pay her the money back in full in five years. She wrote a contract and we signed it and we allowed her to video us as well. That same day she went to my conveyancing solicitor and paid 20k of it as the deposit as they needed to know where the money was coming from. She had to sign it over as a gift otherwise it would affect my mortgage as an extra loan will impact on the amount borrowed. A day after this she contacted me to say that we can have the 20k as a present to help us out so we now owed 40k. We had nothing in writing for this. Do we still owe her 60k or does the signed 20k gift paper at the solicitor's override this as she could only ever prove that she gave us 60k including the solicitor's money?

There is still 3 years to go before we have to pay the full amount back but my mum is demanding the money back now and said that she will take legal action. We can not afford to do this but my mum is saying to sell the house which I can not do with my children as we would not have a home. She does not care about this and she often lives horrid messages on my mobile phone. It is really stressing me now and also the fact that it is my mum doing it to me. Any advice would be appreciated on legalities

Thank you

o99

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danielnufc

Just a quick question

Can you use call recordings in a small claims court without the consent of both parties?

Carmex_Fan

I leant my best friend money, ahe kept shopping and buying loads of things and never said anything about oweing me money- even when she knew I was out of full time work and having difficulty paying rent.
It ended in an argument, but I got my money back- and we are no longer firneds, it will be a year at the end of August.
This year my friend paid for me to go to NYC and it came to £320, I still have not paid her back and she is saying I can pay her bck whenever. I intend on paying her back in full- even it means in installments. I need to start this month because I feel like it is hanging over my head- even if she is laid back about it.