Friend loans

[wrinkles]

Hello.
I loaned a friend money while trusting him being able to pay back, but now i am being ripped off.
Without any proof and legal binding other than some account transfers between banks, but without the reasoning being in those transactions, and mentions of loans, is there any action i can take that will actually value my time and chance to get the money back ? I basically have no proof. Help !

Thank you !

[atticus]

Are you sure you have no proof? What about text/WhatsApp messages etc?

Is your former friend able to repay you?

[wrinkles]

Well there are only some of the bank transactions, that like i said dont provide any loan proof in the descriptions of the transactions, so to the naked eye it seems like just simple transaction. We do have some Whatsapp messages, but he never really stated that ''yes i will return the loan'', the chat simply went like casual chat.

[atticus]

The chat that simply went like casual chat may nevertheless contain references to the loan or having borrowed money. Does it? Or were you discussing Spurs' last game?

And can he repay?

[wrinkles]

I think he is without a job so he cant really repay me even if he wanted to i suppose.
I have the chats but scrolling through them it never concrete mentions that ''ye i will repay you the money'' and such. + he keeps bringing up that i did not do a good job taking track of the money he borrowed, like i dont have receipts and stuff, which is sadly true. Sometimes when i said in chats ''ok here is the money'' and he said ''okey thanks for hte money'' etc, not like loan mentions. :/

[atticus]

You appear to have something, including that he admits having borrowed - and a friend who isn't repaying because he's broke. Have you asked him what he can pay?

[wrinkles]

He said he wont pay me so i decided to seek legal action, but searching online im starting to take in the result, that without enough proof i cant do stuff to him.

[PallasAthena]

How much does he owe you in all?

Here's a thought. If he really has no income and no assets to speak of taking him to court now might be a pointless exercise anyway. Good money after bad. What if instead you contacted him and said you understood his position and wanted to agree a repayment plan when he had a job again?

You have time to bring a claim in the future before it is statute barred but more usefully that might get an acknowledgement of debt out of him.

[jaguarsuk]

I lent someone money based on a verbal contract, absolutely nothing in writing and the bank statements had the reference 'shopping' on them.

Never underestimate someone trying to wriggle out of paying something to do something stupid to try to avoid the debt and actually admit it.

However, if the friend has no job (assume in receipt of benefits) and nothing to enforce a judgement against (assets for a bailiff or HCEO to remove) then all a claim will serve to do is provide you with an expensive piece of paper even if you succeed.

I would approach this with a view to realistically obtaining repayment, so I would say to the friend that you have lent them an amount of money that to you is quite a lot and it does need to be repaid, but you recognise their financial position right now.

Suggest that you both agree that they shouldn't pay anything until they get a new job and so that you both don't have to discuss it any further that you write down what is owed, how much they'll pay when they get a job and when the payments will start.

I'd suggest commencing when they receive their second salary payment from their new job because they should get to enjoy having the fruits of their labour for their first pay. Now you might think I'm being too kind, but you're trying to get a friend to sign something that acknowledges a debt, so you need to sell this to them as you doing them as much of a favour as you can.