how to recover money i lent via bank transfer?

[worzelGummidge]

£500 to get rid of a relation = result

Now if you see them in 10 years time don't forget to ask for your money back mentioning with interest they now owe you £2,000. That should get rid of them for another 10 years.

Gosh your wicked, but I like it.

I have over the years only lent money to friends or relations that I can afford to loose and yes I have sometimes lost it. To others it's a written agreement and yes I have taken them to court if money is not repaid and this has certainly given them a shock.

[SueEllen]

Wow. It's not just me then. I lent £500 to a family member over a year ago and have seen hide nor hair of them since.

Luckily I can write it off to experience, but deep down I feel like I've been betrayed and pi**ed on.

£500 to get rid of a relation = result

Now if you see them in 10 years time don't forget to ask for your money back mentioning with interest they now owe you £2,000. That should get rid of them for another 10 years.

[Svalbaard]

Wow. It's not just me then. I lent £500 to a family member over a year ago and have seen hide nor hair of them since.

Luckily I can write it off to experience, but deep down I feel like I've been betrayed and pi**ed on.

[SueEllen]

thankyou for the replies, no written contract, he turned out to be a bit of a gambler and greedy with his money, but he seems to think giving me a ride to kickboxng classes is his excuse not to pay back, I'm holding the pads for him too. It's not like I agreed a lift to the gym was the repayment plan.

While you can easily prove it's not a gift the fact that he is a gambler = no money or always having money problems. This means he is not worth chasing as Cojak says.

You will be able to take him to court etc but getting a CCJ against someone and repayment plan out off someone doesn't mean that you will get the money back, and you will end up throwing good money after bad with more stress.

I was a mug for lending it, purely because I got into contracting and was making ok money for the first time, so I was to open with my wallet, hardly knew the guy too, but we still train together it's been my mistake not to demand it back more often.

Then tell everyone not to lend him money but don't bring it up yourself someone else will bring up a similar subject if you have small talk with them.

He probably see's me as soft and he does def carry a few mental issue's.

No he's just a blagger. There are loads of people like that male and female who manage to "borrow" money off others.

Worse are normally family members and close "friends". I don't mind giving money to people if I can afford it, but if they use the word "borrow" or "lend" then I expect to be paid back. If you don't even attempt to give me some money back then I don't trust your word for anything.

One of my own brother's was shocked when I used the word "borrow" then tried to pay him back 14 days later. It was due to an ex-permie employer screwing with my wages but that's a long bitter story.

[GillsMan]

And stop holding the pads for him. Be a man and make him hold the pads so you can smack him about (within the confines of a kickboxing session of course).

[Scrag Meister]

It's sounds as if you're just going to have to let it go and treat the experience as a lesson learned.

WCS

[cojak]

It's sounds as if you're just going to have to let it go and treat the experience as a lesson learned.

[trsisko]

thankyou for the replies, no written contract, he turned out to be a bit of a gambler and greedy with his money, but he seems to think giving me a ride to kickboxng classes is his excuse not to pay back, I'm holding the pads for him too. It's not like I agreed a lift to the gym was the repayment plan.

I was a mug for lending it, purely because I got into contracting and was making ok money for the first time, so I was to open with my wallet, hardly knew the guy too, but we still train together it's been my mistake not to demand it back more often.
He probably see's me as soft and he does def carry a few mental issue's.

[CheeseSlice]

Over the years I've learned not to lend money to anyone outside of my direct family, even if they are considered good friends or acquaintances.
I have found out the hard way that some of my 'good friends' are utterly awful with money, and they will borrow from you without any real intention of paying you back. I have struggled to understand how someone who has been such a good friend would do this, but unfortunately it almost seems to be a kind of sickness where they just can't admit to themselves that they have a problem.

The best thing for people like this is a credit card. At least banks have the faceless legal mechanisms and the nerve to send in the bailiffs when they refuse to pay back.

[SueEllen]

The action you can and should take depends on:
1. Whether you have written proof that the money given to them was a loan
2. Who that person was

If you lent someone in your family or a close friend in your circle of friends the money ask them for it. If they don't give it to you then ignore that person as the fall out from taking it further will be too big. Also politely (without ranting) warn others of the perils of lending money to them.

Taking a family member or former close friend to court without written proof it was a loan could lead them to argue they thought it was a gift particularly if you "lent" them sums of money before for things.

If you lent an acquaintance the money then first find out if they have the funds to repay it. If they do then send them a "Letter Before Action" telling them to repay the sum in full within 30 days or you will take them to court and they will be liable for costs. You need to be able to prove that they highly like got the letter so you should send it to them via 2 different ways and get proof you did so.

Then after 30 days start a claim on Money Claim Online. If they subsequently contact you and offer a reasonable repayment scheme with the first months repayment that clears, withdraw your action. You can later take them to court again if they refuse to keep up with the repayment scheme agreed by you both. This avoids the debtor arguing the amount was a gift and other things to avoid paying you.

[Clippy]

Still not resolved it then?

Are you asking if, via bank transfer or similar, you can recover the money without his approval/knowledge?

If so, no.

[trsisko]

I lent someone £800 via bank transfer a few years ago, is there anyway to recover this ?