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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70647
Experience:  Over 5 years in practice
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I lent a friend of a friend £10000.00 to be repaid £ per week

Customer Question

I lent a friend of a friend £10000.00 to be repaid £ per week 500. She has paid 2500 but has stopped paying and is difficult to get hold of. We both signed an agreement I got printed of the internet. My question is, is the agreement a legal document and b where to I go to start procedings?
Submitted: 4 years ago.
Category: Law
Expert:  Jo C. replied 4 years ago.
How much are you now owed ans when should it be paid?
Customer: replied 4 years ago.

for jomo1972.


 


The agreement was 10000 plus 2000 interest. to be repaid at £500+ per week, she has paid 2500 but has missed 8 weeks payments to date leaving 4000 short from where I should be.

Expert:  Jo C. replied 4 years ago.
Is she working ?

Does she have any assets?
Customer: replied 4 years ago.


She is a tenant in a pub and that is supposed to be worth in excess of £100,000.00. and this is why she wanted the money, to pay the electric bill otherwise she could lose the tenancy. Apart from her car I doubt if she has any other assets.

Expert:  Jo C. replied 4 years ago.
The agreement is legally binding. It won't amount to a deed but you don't need a deed to enforce a contract. Even an oral agreement is sufficient. If you have signed writing then that will be good evidence.

You can issue against her here

www.moneyclaim.gov.uk

but it would be worth sending a letter before action giving her 28 days to resume payment and making clear that you will sue in default.

Its easy to get judgment though and harder to get the money. If she is in work then you have at least a reasonable chance of collecting upon the judgment.

Hope this helps.
Jo C. and 2 other Law Specialists are ready to help you
Customer: replied 4 years ago.

Thanks for your help


 


regards


 


Daryl

Expert:  Jo C. replied 4 years ago.
No problem.

All the best.