legally obliged to give back loaned money to an ex friend ?

[posh123]

I borrowed about �6000 from a friend 4 years ago I have given some back but we have since fallen out and I haven't see or heard from him for ages. He has now sent me a letter threatening me with court action to get it back. I am a single parent working part time, I have no spare cash. We did not sign anything at the time, do I legally have to pay him back. I appreciate any feedback. Thanks

[Annlinda]

By your own admission on here you borrowed the money therefore you should pay it back

[factor-fiction]

How would you feel if it were the other way round? If he has evidence or if you don't deny the loan occured then he can take court action.

[happyjo]

Hi

A contract does not need to be in writing for it to be legal.

You both verbally agreed to the loaning of the money, and you both agreed to paying back the money. He offered the money.You agreed, by accepting, and you offered consideration for the loan by paying it back over aperiod of time.

I am afraid you may be held liable in court, unless, he has agreed somewhere along the line that it was a gift.

You can submit a statement of affairs, detailing your income and expenditure. You can make an offer of what you can afford to pay ( realistic). If you have no extra money, he would be wise to accept what you can afford.

J x