debtor defaulting - any options?
Discussion
Ok I made a stupid mistake and lent some money (not a great amount ) in good faith to an old acquaintance but he didn't keep up the repayment and when checked told me a fib which I found out,now he has changed address but I wonder if there is any option in the small claims court to recover my money as he is keeping radio silence importantly since i don't know the address how do i go about it,I do have the mobile no though or is ti worth at all
Do you have any evidence (even a text or similar) showing how much was lent and how / when it was planned to be paid back?
How much are you talking?
Do they realistically hace means or value in assests to cover the debt?
It doesn't cost much to take someone to court and im guessing there are services you can use to find people.
Whether that's the best course of action really depends on whether the friendship means anything to you (probably not now), and whether you can be bothered.
Also realise if they haven't any means then assuming successful, you be awarded repayment at a paltry sum per week. (And if they owr cash to you, how many others do they also owe cash to?)
How much are you talking?
Do they realistically hace means or value in assests to cover the debt?
It doesn't cost much to take someone to court and im guessing there are services you can use to find people.
Whether that's the best course of action really depends on whether the friendship means anything to you (probably not now), and whether you can be bothered.
Also realise if they haven't any means then assuming successful, you be awarded repayment at a paltry sum per week. (And if they owr cash to you, how many others do they also owe cash to?)
carboy2017 said:
Timmy45 said:
I wouldn't have thought you can do much, it'll be your word against his unless you have something documented on paper, e-mail, text etc.
yes i have text messages from him about it though (amount ,time date ,assurance to re-pay on a certain date )I read recently that about 60% of money lent to friends and family is never repaid.
You can take them to small claims, as above you'll need some kind of proof ideally and pay a fee £30 or £100 depending on how much is owed. If they're unemployed or bankrupt you'll basically lose by default. I can't remember the exact rules, but you'll probably need to confirm their correct address to win.
Getting a judgement is one thing, actually enforcing it another, you can try a Debt Recovery Agent or Bailiff, but they're not as empowered with only a small claims judgement.
Truthfully, if the money isn't enough to bother you, I'd be inclined to take it as a life lesson, if it's getting to you, or it's a meaningful amount of money for you - be prepared for months of hassle which might come to nothing.
You can take them to small claims, as above you'll need some kind of proof ideally and pay a fee £30 or £100 depending on how much is owed. If they're unemployed or bankrupt you'll basically lose by default. I can't remember the exact rules, but you'll probably need to confirm their correct address to win.
Getting a judgement is one thing, actually enforcing it another, you can try a Debt Recovery Agent or Bailiff, but they're not as empowered with only a small claims judgement.
Truthfully, if the money isn't enough to bother you, I'd be inclined to take it as a life lesson, if it's getting to you, or it's a meaningful amount of money for you - be prepared for months of hassle which might come to nothing.
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