Legal Question in Civil Litigation in United Kingdom
Trying to recoup a loan to a friend
I paid �4800 (direct to the seller) for a van to help a friend start up his business. We had a verbal agreement regarding payment however in 12 months I have received no money. The van is in his name although I can prove purchase. My 'friend' is avoiding all my efforts to contact him in a bid to negotiate settlement, and I am now at a loss as to how to proceed. Do I have any legal recourse or I am facing writing the money off as a very expensive lesson in neither a borrower or lender be?
1 Answer from Attorneys
Re: Trying to recoup a loan to a friend
The position would appear that to be you loaned your friend this money to purchase a van against his agreement to repay the amount. He has not done so and from experience I am afraid I have little doubt that he will not do so.
You have no other alternative other than to issue court proceedings. I can see little difficulty with this and the claim will be dealt under the Small Claims Procedure. We have available from our website a DIY Small Claims Kit which provides all the information and help which you will need.
Andrew Dutton
www.legal-zone.co.uk
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