financial question. need assistance

stocky · #1 24-09-2007, 10:42 PM

ive got myself into a **** situation at the moment. i lent some money to a friend of mine that i trusted with it, but now i have a feeling it was a big mistake. i lent them money through netbank transfers, and im getting the feeling i wont be seeing it again. its over $5000 and i feel like an idiot for doing it. if it turns out they wont be paying me back, would would people suggest i do about getting it back. any ideas would be appreciated.

minux · #2 24-09-2007, 10:58 PM

Take him to court.

Sue him.
Have a court Judgement made against them.

Will stop him getting any sort of credit for the next 5 years once it is paid in full.

I did this to my cousin, after he took with 8k i loaned him. He was planning on using my money to buy a house...he didnt realise he had a court judgement against him. Pity the fool who signs a contract and runs.

BLK-SAB · #3 24-09-2007, 11:00 PM

That sucks if thats the case man...Did you have some kind of written agreement between the two of you?

Shortstuff · #4 24-09-2007, 11:01 PM

It's a difficult one! What route you take depends on how much you value the friendship over the money, or the other way round, and also whether you still have proof of the transfer to your friend. I'd be looking at getting some sort of court action going I think.

azkwazere · #5 24-09-2007, 11:04 PM

Court, this is a clear cut case and youll get your money back.

You can prove the transaction via bank statemtns linked from yours to his and the court will rule in favour of you.

Its a verbal contract and as long as there were expressed terms such as time to pay back etc. youll be sweet.

Legal Aid is your friend

aZk.

stocky · #6 24-09-2007, 11:06 PM

basically all i have is msn chat logs, and sms messages about it. another twist. i lent it to them in installments. i sent them 1800 at one time, and they told me they never got it. i have the feeling theyre lying so they dont have to pay that back, even though i talked to someone at their bank and they ensured me that it went through.

Shortstuff · #7 24-09-2007, 11:08 PM

Your bank statements should show the transfers though?

stocky · #8 24-09-2007, 11:09 PM

Quote:

Originally Posted by Shortstuff

Your bank statements should show the transfers though?

the transfers i did through netbank, yes. about 1700 or so was me actually putting it into their account personally at a bank

minux · #9 25-09-2007, 06:30 AM

Well, they aren't a very good friend.

I am happy to pay them a visit if you like

Reaper · #10 25-09-2007, 07:42 AM

Quote:

Originally Posted by stocky

ive got myself into a **** situation at the moment. i lent some money to a friend of mine that i trusted with it, but now i have a feeling it was a big mistake. i lent them money through netbank transfers, and im getting the feeling i wont be seeing it again. its over $5000 and i feel like an idiot for doing it. if it turns out they wont be paying me back, would would people suggest i do about getting it back. any ideas would be appreciated.

Vcat is the cheapest way. Be organized - good luck.

Reaper

minux · #11 25-09-2007, 08:02 AM

Quote:

Originally Posted by Reaper

Vcat is the cheapest way. Be organized - good luck.

Reaper

Vcat won't do ****. We seen first hand how pathetic their system is. A family friend lost HIS business and HIS property because of vcat.

A Court Judgement is the best way, although you may not see the money back. Unfortunately no matter what you do you may not see the money back.

If they are claiming they did not receive the money, try contacting the bank and tell them it was deposited to the incorrect account?

stocky · #12 25-09-2007, 08:11 AM

yeah im gonna call the bank today hopefully. the friend was a girl having trouble moving out and getting money for a car, so i was helping them out. getting screwed over for being the nice guy