I loaned a friend money which he promised to pay back end of January. Still haven't received it although he keeps saying the money is on it's way and is ';tied up in the bank';.
I have all the email conversations, and MSN chats that has taken place since he started giving his excuses. I also have statements showing that the money indeed go into his account. (Bacs transfer so I have his bank details as well) What is my legal standing on this? Legal advice pleasePersonal Legal Advice?
go to small claims court
keep all your documentation
good luckPersonal Legal Advice?
Ditto to caretaker's answer. I am going thru a similar situation with one of my relatives. if you don't awant to go thru court with this buddy, ask him/her if s/he would be willing to do a payment plan (ex: pay $50 per month for the next 12 months on the 5th of each month) and PUT IT IN WRITING! That way if s/he falls back on it, then you can show you even tried to reason with this person. If s/he doesn't want to do the payment plan, take them to small claims court. The longer you wait, the harder it is to file %26amp; still have a good case. Good luck trying to get your money back!
In most states, a verbal contract is still legally enforceable. You should inform him in writing that you are giving him thirty days to pay up, otherwise you're going to take him to court. If he doesn't pay, take him to small claims court. If you have all the documentation showing that he has been dragging his feet and that he actually has the money to pay you, chances are very good that the judge will rule in your favor.
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