"friend" that was still owesme money

[russbenn]

A past friendhas owed me money fro several years and i'm getting to the end of my tether can anyone help or advise as to how i can recoup my money

[lady_p_gold]

Have you got anything in writing ???? If it is only a verbal agreement then I think you might have a problem.

[Oneeyedvic]

Unless you are in America, in which case I suggest Judge Judy.

When lending money, there are several things you must do. First thing is to put in writing: the amount, the term, the repayments and penalty clauses. You must also chase the debt in a prescribed way and if you have not written to your friend chasing payment in the last 6 years you can kiss your money goodbye.

[123paul]

An oral agreement is as good as a written one for a straightforward loan. If no term is specified the loan is repayable on demand.

In theory there is no breach of the agreement until you have demanded the loan & he has failed to repay; so if it was more than 6 yeasr ago that you entered into the agreement you migth be ok.

If he has acknowledged the debt in writing & signed it, or made part payment time starts to run from that date. However, once the limitation period has expired it cannot be revived.

Break his legs.

[andy hughes]

Is it possible that your friend doesn't know how wound up you are about this?

If you have dropped hints, and had no response, it's time to get firm.

Sit your friend down, and tell them that you need this money repaid. Be prepared with a resonable repayment plan that you think your friend can stick to, and present him with it. If all is sweet, then fine - if your friend can't or won;t replay, then youor friendship is in danger of expiring, you have to decide if you need the money at the expense of your frienship.

Based on that decision, you can decide if you need to bring in legal action - it really depends on your relationship, the amount of money in question, and how mcuh you need the money back.

Soorry to be vague - re-post if any more help can be offered.

[Chessman]

This does'nt help, but something I learned a long time ago, and its held me in good stead, 'When you lend a friend money, be prepared to lose either the friend, or the money', its worth remembering for the future.

[louadams6]

exactly chessman! i was told the same as you but worded differently "you dont lend your friends money, you give it to them. If you lend it to them they are no longer your friends"

Sorry to hear your predicament russbenn but im not sure theres much you can do except give up if you have nothing in writing and write it off. I know its no consolation but ive learnt the hard way too with so called friends! Good luck

[TimC123]

I agree completely. This happened to me about 4 yrs ago, i'd known him for 11 years and 'thought' i trusted him. He still owes me �3000. Be careful....hope everything works out ok! (Since then i've not seen or heard anything off him thank god..even tho' my cousin is going out with him).

[wannaknowit]

get peace back in your life and move on. If your short of money now because of it then still try. if its not affecting your finances in the here and now then forget about it. and your friend!!!!!

[mollymandy]

invite them round for a drink and then explain that you need the money back and what for your more likley to get it back that way than any other way , if they dont turn up write them a card explaining that you need the cash back and you know that they have over looked the loan but now its time to repay it back .

Good luck !!!