Getting money back from a friend`?
I now regret ever helping him out in the first place. HELP!
Answers:
You have the option to sue him if you can prove that you loaned him the money and that he agreed to pay you back.
Of course, this will most likely be the end of the friendship so I'd try explaining to him you need the money and that you are thinking of taking him to court over it.
Unless he signed a contract though, it will be difficult to prove he owes you the money. If you gave him cash on a handshake agreement, most likely you will not be able to prove to a court that he owes you the money and he could just deny it and then never pay you.
just tell him you need it so he will have to get it good enough to lend so should be good enough to pay back good luck
didn't your mother every tell u never lend or borrow especially from friends
Never lend money to a friend unless it is a friend you don't mind losing as well as the money. Make it an issue...every time you see him. If the money is that important to you...you might want to take them to small claims court, but you would have to have proof (in writing) that 1. you lent them the money 2. it was a loan that was meant to be repaid
If it has been 4 months and he hasn't even made an attempt to pay...I wouldn't hold out hope that you will ever see the money again.
Freinds are the "worse" people to loan money to.
I bet you didnt get an IOU or promisary note, so that you have absolutely nothing in writing to back you up, and its your word against his, and if taken into a Court of Law, there would be no proof!
So, unless you have a witness to the transaction, (not a family member), then you are "out of luck".
Its an expensive lesson learned, and a friendship lost... As it relies on the "integrity" of the person you lent the money to, and apparently "he" has no integrity at all!
You can let the IRS "know" about this so that "he" will have to pay taxes on "income", as it "is" income as "he has it" and you dont!
I wish you well...
Jesse
If this is a true friend, they will endeavour to return your money. You must realise that there could be a legitimate reason why your friend has not paid yet, as things do not always go to plan.keep calling on this friend as a social visit. i am sure one day you will be surprised to see that you will get your money back.
Ask to set up a payment plan and get it in writting. Start it out small like $25 a week. or something and get in writting the total amount. That way you will get proof that he does owe you the money if you want to sue down the road. It would be something he could afford until he gets that magical funds he talks about.
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