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Jamie-Law
Jamie-Law, Solicitor
Category: Law
Satisfied Customers: 14350
Experience:  Solicitor
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Without realising we borrowed money from a business not

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without realising we borrowed money from a business not regulated by the FCA as a lender. We have now stopped paying can we sue for the return of £5000.00 paid so far?
JA: Where are you? It matters because laws vary by location.
Customer: Kent UK
JA: What steps have you taken so far?
Customer: nothing
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no

Hello my name is Jamie and I will help you. I am just reviewing your question. This is an email service so there may be delays when responding.

You need to write a letter, set out your losses and request a refund within 30 days or say you will go to Court. This is called a pre-action protocol letter of claim. You should make sure you send this signed delivery and keep a copy. You must give 30 days warning before going to Court.

If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 https://www.gov.uk/government/publications/form-n1-claim-form-cpr-part-7 and take it to your local County Court.

The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.

If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value, you would need representation for trial.

Can I clarify anything for you about this today, please?

If not, I would appreciate a 5-star rating for my answer, by clicking the button at the top of the screen. I am not paid for my time unless you rate. If you need anything further I am available for a follow up at no extra cost.

Customer: replied 2 day ago.
So to clarify I can sue an unregulated business for the return of money paid back on an illegal loan

Correct

Does that assist?

Customer: replied 2 day ago.
No can u just answer, yes or no

Yes.

Does that clarify?

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