My former friend borrowed money(one week's salary) and doesn't return it even after 1 year when the verbal agreement was to return it in one month. If I take him to small claim's court and lose due to lack of evidence, is there any other options or actions for me to take? He won't make payments either. What would you do if you were in my situation?
2007-02-04 12:39:59 · 33 answers · asked by ocean 3 in Business & Finance ➔ Personal Finance
If I were you I would count it as an expensive lesson. Never loan a relative or friend money. If you want to help them just give them money because you will never get it back.
2007-02-04 12:44:17 · answer #1 · answered by Dovahkiin 7 · 0⤊ 0⤋
In my experience, there isn't really anything you can do. You'd definitely lose in small claims, as people ALWAYS SAY it was a gift, not a loan, & it's your word against his. Sadly true. There is no "legal" action you can take without a signed contract that it was a loan. It's a lesson hard learned. I don't think it would be wise to get "revenge" because it would only come back on you. (Not that you had that in mind!) If a "friend" needs help, I always think--if I can afford it, don't expect to get it back. Or as I said, have a written contract. I hope I won't get a red flag for this--but if you've seen me here before, my avatar & nickname "DRAGON" as well as my 360 page have been snatched from me, & this seems to be happening with lots of other people. If you've "appealed" to his integrity with no results, that is really IT.
Edit: It doesn't matter if you have evidence of a cheque or whatever; you would need to prove that it was a LOAN. Small claims would not be worth it, believe me.
2007-02-04 12:55:43 · answer #2 · answered by Valac Gypsy 6 · 0⤊ 0⤋
I am really sorry that this has happened to you. Big sigh!! I doubt there is much that can be done about this. I think it is a big life lesson. You trusted a person that didn't deserve to be trusted. That person chose to loose a good friend. You paid a week salary to know that person's true colors. He / she, will get his/her karma. What goes around comes around. Maybe you could talk to a lawyer to get some input. Talking about it will bring new perspective to the problem and it will help you move on. I hope you will never lend money ever again.
2007-02-04 12:57:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It is his word versus your word. You can take it to small claims court if you have witnesses or any other evidence that points to this loan. How did you pay your "friend"? Is there a record of the payment? Your first burden of proof is that you gave him the money. Next burden to overcome is that it was a loan. Even a judge will find it hard to believe that you gave the money to the "friend" to keep forever, if you prove to the judge with canceled checks, etc, that the loan was indeed made. Also in small claims court your "friend" has the chance to incriminate himself as he defends his behavior.
2007-02-04 12:52:01 · answer #4 · answered by pshdsa 5 · 0⤊ 0⤋
Of course you know you may never see your hard earned wages again, do you have strong evidence cause I do not think verbal evidence will be good enough, Like you said you could take the bludger to the small claims court but how much will that cost you?? apart from that you may as well kiss your money goodbye, sorry mate
2007-02-04 12:52:17 · answer #5 · answered by tin_ trunk 2 · 1⤊ 0⤋
Is it possible the friend simply cannot repay (yet)? Find out for sure instead of speculating, by initiating a calm and concerned conversation. If (he) refuses to talk or can repay but refuses, then:
Depending on how much money it is, chalk this up to experience and move on or go to small claims court if the costs to pursue are meaningfully less than the potential amount you recover.
2007-02-04 12:47:06 · answer #6 · answered by planningresult 4 · 1⤊ 0⤋
Only lend money to friends if can do without it yourself, because there's a good chance you'll never see it again. If you can do that, then let them have it. If not...don't lend it. Most people I've lent money to have paid it back. But by not expecting pay back, and wanting to help a friend in need, it doesn't bother me. I just won't be so quick to lend to them in the future.
2016-05-24 08:25:19 · answer #7 · answered by Anonymous · 0⤊ 0⤋
neither a borrower or lender be! an old quote but has alot of wisdom behind it.
i used to lend money but no more. i learned my lesson.
unfortunately if you have no proof for small claims court, you have learned a big life lesson.
that person is obviously not a friend and i would cut them out of your life forever for being so mean and taking advantage of you.
then, i would never ever lend money to anyone again.
sorry u are dealing with this crap when u trusted in a "friend".
2007-02-04 12:43:50 · answer #8 · answered by Sweet Potato Pie 2 · 1⤊ 0⤋
It's always a problem when a friend borrow money from us. Verbal agreement doesnt count, dude. You should have got it written. The best way to get your money back is to talk to your friend directly. Might threaten him that you will tell his friends about this case.
2007-02-04 12:58:12 · answer #9 · answered by williams 3 · 0⤊ 0⤋
seriously now..how good of a friend was this person before they borrowed the money? Would you rather have your friend back or your money? maybe your friend can't pay you back and hasn't come around because he is ashamed that he borrowed the money and can't pay you back.. i lost a friend for 5 years over $100. and i would have given $1,000,000 to just talk to her sometimes. now i have her back and i wish i had the 5 years back not the $100. friendship has no price and if yours does then you were never a true friend.
2007-02-04 12:49:10 · answer #10 · answered by iwearpink4life 3 · 1⤊ 0⤋