Ask a Law Question, Get an Answer ASAP!
Hello, my name is***** am a qualified lawyer and it is my pleasure to assist you with your question today.
Will you be reporting this to the police or would you rather deal with it in-house?
OK thank you, ***** ***** it with me. I am in court for the rest of today so will prepare my advice in a while and get back to you at the earliest opportunity. There is no need to wait here as you will receive an email when I have responded. Thank you.
No problem at all
Many thanks for your patience. Whilst you may indeed involve the police, if you refuse to do so and wish to pursue him personally instead then you will be relying on him voluntarily paying the money back, or if he fails to do so – by going through court to obtain a county court judgment against him. Alternatively you could make a statutory declaration requiring the repayment of the money and if he does not do so – petitioning for his bankruptcy. If he is made bankrupt for not paying the debts, and in the meantime he has tried to transfer his assets to avoid having them included in his estate, then under the Insolvency Act it is possible to overturn these transactions if they were done to try and place the assets beyond the reach of his creditors. It is certainly not uncommon to for debtors to try and do this and the law recognises this and provides remedies in the event that they do, where transactions can be overturned or if they are in the process of being moved – be frozen. However, I would suggest that you try and resolve this sooner rather than later so as not to give him time to try and find ways of attempting to avoid repaying you.
I hope this has answered your query. I would be grateful if you could please take a second to leave a positive rating (3, 4 or 5 stars) as that is an important part of our process and recognises the time I have spent assisting you. If you need me to clarify anything before you go - please get back to me on here and I will assist further as best as I can. Thank you