Getting your money back?

[mynameis]

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.

[ukusa]

obviously not really a friend to do that to you. Maybe having a word to a reli of theirs to put the pressure on.

[geoffc]

Go to your local Citizens Advice Bureau. They can tee up some free legal advice for you or try the Community Law Office who are also free. Good luck.

[mynameis]

obviously not really a friend to do that to you. Maybe having a word to a reli of theirs to put the pressure on.

Yeah I know her and the husband well and don't really feel too comfortable putting pressure on aye. Just not me. However I have reminded her a few times now and hear the same thing. I'll pay you next pay time.

She's not the only mate who owes me money but this year I've decided to get back as much money I have loaned !!

Go to your local Citizens Advice Bureau. They can tee up some free legal advice for you or try the Community Law Office who are also free. Good luck.

Yeah tried couple of centres they are still off.

[rainman]

Well, is he/she not paying because they're skint, or because they're just being a prick?
Have they offered any credible excuses for not paying?
Have they offered part payment, or an instalment plan?
Do you think you can shame them into paying?
Most importantly: Is it a lot of money? If not, it's not worth collecting. If it is, there are options if you can prove the loan exists formally - like as in if there's a loan contract of some form, or they will admit to the existence of the loan. These will cost you money, of course.

And if you lent a lot of money to a friend on a handshake, well, I believe that's called a learning experience.

[Tashad]

well - I used to be a debt collector (seriously... I was). Loans like this are always a bit tricky. A few things:
how long ago did you loan the money - if more than 5 years, you can't do anything about it.
do you have evidence of the loan (bank statment showing a withdrawal isn't really enough. You really should have something signed by your friend acknowledging the debt)

Your could employ a debt recovery agency (there are lots around) as even if you don't have evidence they may still take it on a a visit or phone call may be intimidating enough to get some action. Be aware though - some charge like wounded bulls so look for one that will only charge for a result or just for whatever service they provide (calls or visits etc).

Lodging a default with baycorp would be the laast option, but you can only do this with strong eveidence (like an invoice) and eveidence of your attempts to collect. Plus it is a bit colstly and depending on how much the loan was for, may not be worth.

Sometimes these things just need to be chalked up to experience.

[mynameis]

Well, is he/she not paying because they're skint, or because they're just being a prick?
Have they offered any credible excuses for not paying?
Have they offered part payment, or an instalment plan?
Do you think you can shame them into paying?
Most importantly: Is it a lot of money? If not, it's not worth collecting. If it is, there are options if you can prove the loan exists formally - like as in if there's a loan contract of some form, or they will admit to the existence of the loan. These will cost you money, of course.

And if you lent a lot of money to a friend on a handshake, well, I believe that's called a learning experience.

Just being a prick as she's on 70k and husband is on 100k but lead pretty silly lifestyle and blow money like it's nothing. Who would rent a 4 bedroom house for $800 a week.

No excuse, I don't have money.

I don't really know how I would go about getting it back hence the thread. I don't like turning nasty or putting pressure on people I know.

Not a lot to them but a lot to me. Few hundred dollars but less than a thousand. That's money to me.

There is proof, she used my credit card and I have statements and emails to prove it.

[F5 Dave]

All you can do is say to them ok now I need this money back, lets set up a autopayment $25 a month or whatever.

People will always spend what they make & 4%. Thus they will never have the money to pay you back so it's best for them to keep their head in the sand & ignore the issue irrespective of how 'fair' it is. I've written off debts before as I know I'd never see the money back. At some stage you have to do that & learn never to lend substantial money again.

I had a friend that was owed a lot of money by friends & she borrowed some from me to pay her staff of her failing business. I did a ring around to guilt these friends but they were deadbeats & no money was forthcoming. With depression type behavior work has been such (ie she's been unenployed a lot or crap jobs) that I've never seen any money back.

Good luck but I don't fancy your chances. Other people will always justify their own finances over yours.

[edit seen last post: need to get into them for higher payments, but they will never save anything so don't ever ask for bulk payment, you won't get it]

[mynameis]

well - I used to be a debt collector (seriously... I was). Loans like this are always a bit tricky. A few things:
how long ago did you loan the money - if more than 5 years, you can't do anything about it.
do you have evidence of the loan (bank statment showing a withdrawal isn't really enough. You really should have something signed by your friend acknowledging the debt)

Your could employ a debt recovery agency (there are lots around) as even if you don't have evidence they may still take it on a a visit or phone call may be intimidating enough to get some action. Be aware though - some charge like wounded bulls so look for one that will only charge for a result or just for whatever service they provide (calls or visits etc).

Lodging a default with baycorp would be the laast option, but you can only do this with strong eveidence (like an invoice) and eveidence of your attempts to collect. Plus it is a bit colstly and depending on how much the loan was for, may not be worth.

Sometimes these things just need to be chalked up to experience.

Thanks can you give me some specifics?

I've got credit card statements and emails saying she will pay (which is evidence she owes me). I've thought of being sneaky and calling her and recording the convo as I am tired of being taken advantage of.

It was 1.5 years ago. Any indication on how much they would charge??

How much would baycorp charge?

She's now in Christchurch.

[Usarka]

Small Claims Court won't be a go-er 'cause you can only go there if they actually dispute the debt. Sounds like they don't dispute it but need a kick in the nuts.

You're post makes it sound like you've been too relaxed about it (might be wrong). Have you tried the direct approach.....

Arrange to meet.
State that you've been waiting xxxxx weeks for $xxxxxx and that you're having financial issues you need to deal with
Wait to hear what they say
If it's not what you want to hear, ask for a solution and both agree on it
If they reneg again burn the fuckers house down.

[mynameis]

All you can do is say to them ok now I need this money back, lets set up a autopayment $25 a month or whatever.

People will always spend what they make & 4%. Thus they will never have the money to pay you back so it's best for them to keep their head in the sand & ignore the issue irrespective of how 'fair' it is. I've written off debts before as I know I'd never see the money back. At some stage you have to do that & learn never to lend substantial money again.

I had a friend that was owed a lot of money by friends & she borrowed some from me to pay her staff of her failing business. I did a ring around to guilt these friends but they were deadbeats & no money was forthcoming. With depression type behavior work has been such that I've never seen any money back.

Good luck but I don't fancy your chances. Other people will always justify their own finances over yours.

[edit seen last post: need to get into them for higher payments, but they will never save anything so don't ever ask for bulk payment, you won't get it]

Yeah lesson learnt, last year I did not loan any one any money.

I have written money off too but with friends who are poor fuckers not like these guys.

I asked for smaller increments didn't work.

[Tank]

I've got credit card statements and emails saying she will pay

So you have proof that the goods belong to you and that you paid for them.

Id ask for the goods back to recover the bad debt - or just go collect them

[Deano]

Steal, I mean repo some shit off them to the value of the money you are owed.

Simple.

No one needs friends like that.

[mynameis]

Small Claims Court won't be a go-er 'cause you can only go there if they actually dispute the debt. Sounds like they don't dispute it but need a kick in the nuts.

You're post makes it sound like you've been too relaxed about it (might be wrong). Have you tried the direct approach.....

Arrange to meet.
State that you've been waiting xxxxx weeks for $xxxxxx and that you're having financial issues you need to deal with
Wait to hear what they say
If it's not what you want to hear, ask for a solution and both agree on it
If they reneg again burn the fuckers house down.

So what are my legal options? Debt collectors only as suggested above.

I've told her nicely many times I need the money to be paid back to me as I helped her out in good faith when she needed it. Her husband knows me as well and he knows well but they haven't paid back.

Yeah I have been soft but I'd rather let someone else do the hard/dirty work for me that's why I wana just take it down the legal track and let the "system" deal with her not me.

So you have proof that the goods belong to you and that you paid for them.

Id ask for the goods back to recover the bad debt - or just go collect them

Not goods I loaned her money $$

Steal, I mean repo some shit off them to the value of the money you are owed.

Simple.

No one needs friends like that.

: playnice :

[duckonin]

Been there done that it is hard, more so when they 'were' good mates, now not so good, really is better to avoid lending at all, but hell really if they are on $70+$100g a year shit me what is the problem ? hell wife and I and many others in this country survive on $35g a year some on less...