Getting your money back?

[scumdog]

A talk bit of 'publicity' (bad credt rating etc) may work.

But tell them your nice mate Frosty will organise a nice personal loan for them so they can pay you back right away.

And let us know what they say.

[awayatc]

want me to knock on their door and "ask" for your money back on your behalf?
It may somehow jeopardise "the friendship" a bit though.......

doesn't sound like a great loss to me.......

[davereid]

It may be difficult to go down the debt collection path as you have no written evidence that they owe you the money, or of the exact arrangement.

Did you expect them to pay it back within a preset time frame and were they aware of that, did they understand they were going to pay interest, and what the rate was etc etc ?

But you may be able to get them to confirm the arrangement.

Email them, stating your recollection of events - I loaned you $1000 to tide you over while Fred got bail, you agreed to repay $1200 as soon as he got out, you have reneged.

1) They may reply and say "yeah, so what jump in the lake." Then you may have enough evidence to at least start collecting the debt.
2) They may reply and say, nope, you never said anything about interest. This at least confirms the debt, and now you have a dispute, which can be taken to the disputes tribunal, job done.

Good luck.. !

[Deano]

You could try getting a lawyer to send them a letter, not threatening anything just a letter asking for the money but on a legal firms letterhead.

Which is throwing bad money after.....well more bad money.

Are these people really your friends or just some wankers mugging you off ? Having a laugh at your expense ? Real friends would not take you for a ride.

Either get serious with them about your money or give it up and let it go and learn from the experience.

[Winston001]

How would you go about getting your money back that you loaned to a friend who was in need and hasn't paid back in more than a year?

Legally I mean, as repeated attempts have failed.

You are a kind person who helps others. It is a nasty experience to learn that "others" are not always as reliable. To be honest, you are being used and disrespected by your "friend". You have no need to feel guilty or be uncomfortable. You have done nothing wrong.

The loan is not enough to go to a lawyer over. Unless there is a argument, the Disputes Tribunal won't help. Which leaves you with debt collection agencies or other methods.......such as a visit from Awayatc or someone.....

The one thing you must do is retain your dignity. Don't get angry, or embarrased, or feel awkward. Be calm and firm. I'd expect $100/wk from this person - tell them at the same time as delivering a note in writing. Provide them with an auto payment authority.

After 25 years of experience of what money can do to people I can only repeat the old adage - Neither a borrower nor a lender be.

[pete376403]

I was told a looong time ago - lend money to friends - you loose you money and your friends. Sounds like nothing has changed

[Milts]

How much effort do you think it will get them to pay? How about getting some KBer you know and trust, but is a person unknown to them, to call them and claim to be a repo agency. If you think just the threat of it will get you the money, then you could try that and not end up paying any fees.
If you don't think that will work, it's sounding like a repo agent is your only real choice.

[jimichelle]

if you want to remain "friends" write it off and note to yourself never lend them anything again
if you want your money well do what you think will work with the ideas in this thread

[mynameis]

Thanks again guys some really good advice there.

[huff3r]

Thanks again guys some really good advice there.

And most importantly, let us know how you get on

Best of luck!

[Genie]

Been there too...lesson to be learnt by you. It's a hard one and when it's money and you need well fuck.
They are not your friends either, they have taken advantage of your kind nature....go find some real friends that have respect for you. As one poster wrote....get tough on them, don't let them walk all over you...they owe the money and it's time to pay up.

good luck.