the_dork Posted January 17, 2019 Share Posted January 17, 2019 Has anyone done this? I made the mistake of lending a now ex-friend 3k for a supposed business transaction 2 years ago (I know, I know...soft touch). I have been repeatedly promised payment until recently being blocked on phone. The loan was made to a family member of his technically but I have a full record of him asking for it, promising payment etc. He has directorships on registered UK companies (as well as many dissolved/struck off) who I presume I could claim against if needs be. It seems that getting the judgement is fairly easy and just needs the application cost, getting the cash obviously more difficult. TIA Link to comment Share on other sites More sharing options...
longgone Posted January 17, 2019 Share Posted January 17, 2019 1 hour ago, the_dork said: Has anyone done this? I made the mistake of lending a now ex-friend 3k for a supposed business transaction 2 years ago (I know, I know...soft touch). I have been repeatedly promised payment until recently being blocked on phone. The loan was made to a family member of his technically but I have a full record of him asking for it, promising payment etc. He has directorships on registered UK companies (as well as many dissolved/struck off) who I presume I could claim against if needs be. It seems that getting the judgement is fairly easy and just needs the application cost, getting the cash obviously more difficult. TIA got it in writing ? Link to comment Share on other sites More sharing options...
the_dork Posted January 17, 2019 Author Share Posted January 17, 2019 Yes, enough text and some email correspondence clearly showing promise of payment and clear what it was for Link to comment Share on other sites More sharing options...
Will! Posted January 17, 2019 Share Posted January 17, 2019 I did this once. It was pretty straightforward. https://www.moneyclaim.gov.uk/web/mcol/welcome Unfortunately telling people you're going to sue them through Money Claim Online if they don't pay up sounds as though you're going to use some dodgy no-win no-fee solicitor. Link to comment Share on other sites More sharing options...
Bluestone59 Posted January 17, 2019 Share Posted January 17, 2019 4 hours ago, Will! said: I did this once. It was pretty straightforward. https://www.moneyclaim.gov.uk/web/mcol/welcome Unfortunately telling people you're going to sue them through Money Claim Online if they don't pay up sounds as though you're going to use some dodgy no-win no-fee solicitor. Getting a judgement in my experience was usually quite easy. Often there was no defence raised as the debtor thought that they could get away without paying so didn't much care what happened. Having an unsatisfied judgment against you can cause a lot of problems, mobile phone contracts, energy switching, even some employment opportunities can be affected. If a person has assets then bankruptcy is an option if you feel strongly enough. My experience is not recent so that may now be expensive, which it didn't used to be. If at all possible it's always better to try and reach some arrangement informally but it seems you are past that stage, sadly. Link to comment Share on other sites More sharing options...
elephant Posted January 17, 2019 Share Posted January 17, 2019 7 hours ago, the_dork said: He has directorships on registered UK companies (as well as many dissolved/struck off) who I presume I could claim against if needs be. Nope. I’m assuming they are Limited Companies in which case they are completely separate legal entities to him as an individual. You borrowed the money from him so the companies have nothing to do with it. Link to comment Share on other sites More sharing options...
MattW Posted January 18, 2019 Share Posted January 18, 2019 This articulate chap lent money to a family member. 26 mins long but interesting to listen to. Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted January 18, 2019 Share Posted January 18, 2019 3 hours ago, MattW said: This articulate chap lent money to a family member. 26 mins long but interesting to listen to. great stuff Link to comment Share on other sites More sharing options...
Flopsy Posted January 18, 2019 Share Posted January 18, 2019 You could use both their names on the small claim and see how you get on? I helped a friend with a small claim for some work she had done. The people who owed the money (a couple) got nasty and claimed that she had assaulted one of them. Then they claimed she didn't do the work. There was an exchange of written statements with these claims. Then on the day of the hearing neither of them turned up. The "assault" never eventuated in any sort of police report. The problem as you said is getting the money. They have left the home they lived in and although both are company directors (property developers), the companies are registered to a building that supposedly houses many companies. Once you have written your statement and it has been served it will be a good indication of whether they respond by writing a statement (and what it says) or just try and ignore the whole thing. The small claims court may decide that the person you technically paid the money to is the one with the debt and it might be useful to find out if they have a settled home and what their financial position is. Also to try and talk to them as well (which I guess you have tried to do). We sent a set of registered letters as proof for the court that we had tried to resolve this before approaching them and this seemed to go down well. I've helped several friends now and gone through the whole process myself, usually with good results. Link to comment Share on other sites More sharing options...
the_dork Posted January 18, 2019 Author Share Posted January 18, 2019 Thanks so much. Without a set registered address for either of them seems I may have some problems, as will have to go after a company address where he's sole director Fully agree it's a terrible idea to lend money generally, peer pressure/guilt and prospect of promised return immediately got me, feel a right twit but live and learn, not a life changing amount for me it's now more about the principle Link to comment Share on other sites More sharing options...
anonguest Posted January 22, 2019 Share Posted January 22, 2019 I have in the past wondered what the law is regarding individuals making mutually agreed private loans to friends/family/etc - specifically in respect of what sort of interest/charges one is allowed to demand before a court would deem your loan terms to be unreasonable IF the debtor ever chose later to challenge the any of the repayment. I'm not talking about charging illegal loan shark/payday lender rates but possibly more unconventional forms of collateral? (e.g. securing a loan against the borrowers car, etc). Presumably IF one were to do that sort of thing then it really would have to be done via a solicitor? Link to comment Share on other sites More sharing options...
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