Lending money to friends & family

andy.m_2

The point throughtout all 600 odd posts on this thread is pretty clear:

a) you have no chance at all if you have no paperwork and your mate defaults
b) even if you have paperwork and your mate defaults, lets say you win the small claims, how exactly are they going to pay you if they still have no money.

The very best thing you could do to anyone asking to borrow money would be to direct them here and hopefully they will have their lightbulb moment and make wholesale lifestyle changes.

LovelyLeeds

Mrs_Ryan wrote: »

I wouldnt normally have this sort of money but I've just had some compensation for a car accident I was in and he knew I had it,

Under your particular circumstances, given it was money from an unexpected source AND only £200 - I would inform your brother that you will not be buying him anything for Christmas for the next 10 years - assuming a £20 pressie is what you would normally get him!
Not really worth the stress and tediousness of the small claims court, unless you have it in writing - a verbal contract will be extremely difficult to prove.
And as other posters have said never lend a gambler anything let alone non-gambling peeps!
Most of us on this thread have learned a very sad and bitter lesson, the worst thing is the dynamics of how the friendship invariably breaks down because of lending.

Amarisa

Hey everyone,

I'm looking for a little help! Last year I lent about £500 to my boyfriend (now ex-boyfriend). I feel so silly for doing it now because looking back it was predictable that the money would never get repaid, but at the time I think my judgement was clouded by the relationship!

Now, I have written records by me of the dates I made the payments and what dates he paid me back in cash (he repaid about £40 while we were still together)
I also went onto my online banking and took a screen grab of the payment that I made into his bank account because I paid it directly into his bank. I know he earns enough to pay it back too, so it's not a case of him not being able to afford to pay me back.

I'm in desperate need of this money as I am a student! Is there any way I can get it back off him?

Thanks =]

Bunii_Hugz

Sadly no. Unless he voluntarily pays it back he isnt legally obliged to as I am assuming you and him had no contract in which he committed to paying you this money back.

marywooyeah

Amarisa its good that you have that proof its more than most do in your situation. I think the only way you'd get it back is if you took him to the small claims court with the proof you have, but even if you did win it doesn't guarantee you'd get your money back, although the court could make an attatchment of earnings order which would mean money would be deducted from his wages to repay the debt.
I'd approach him offering him a payment plan by setting up a direct debit to your account so you don't have to have contact with him, but if he is not amenable to it that then tell him you have no choice other than to go to court over it.
good luck!

poppasmurf_bewdley

If you take him to court and he doesn't pay, try this:

You can use a garnishee order to force a third party who either holds money belonging to the debtor or owes the debtor money. The garnishee order only works once at the moment it is served. If there is no money in a bank account at the time it is served then the order fails.
To apply for a garnishee order you need to fill in a copy of Form N349 and send it to the court with the appropriate fee.

Amarisa

Thanks for the advice!

I think I'll try contacting him again and depending on his answer (which is most likely to be no ;D) I'll look into the ways suggested...

Mrs_Ryan

Just an update to my situation - yes 200 is a lot to me. However it seems now he is making steps to pay back (after my Mum had another go at him) and has asked for my bank details so he can give me some money. Im a reasonable person, I've said if he cant pay me all at once thats ok but I've made it clear that I do want it back.

erdd2

Apples2 wrote: »

For £200 I would forget about it.

T&Cs in financial industry are to be clearly pointed out and if not, such a fee is not necessarily legally enforceable

.

Apples2

erdd2 wrote: »

T&Cs in financial industry are to be clearly pointed out and if not, such a fee is not necessarily legally enforceable

.

What ARE you talking about?

A woman gave her brother £200 out of a compo claim and is threatening Court Action to retrieve it. Do you honestly think there was a Consumer Credit Licence involved?