Over the course of 7/8 months, myself and my parents loaned my ex-boyfriend around $5,000 (personal loan). He has since received a settlement check of about $15,000. In just under a month, he has already spent around $10,000. He's currently here on a working holiday visa and wants to go to Asia for a holiday soon. It wasn't a nasty break-up and although most of the agreements were verbal, I have credit card statements for some of the money. Obviously, we completely misjudged this person, but is there anything we can do? Or just write it off as a bad investment..? Thank you
NSW Ex-boyfriend not Repaying Personal Loan
- Thread starter Akkil2
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Sophea
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Do you have any evidence of the fact that the money was not a gift but a loan? Such as written documents, notes or text messages between you?
If you have evidence of the fact that you have him a loan and he has not paid it back, you can institute legal proceedings in the small claims or Magistrates Court. A step shy of that, would be sending him a letter of demand, stating that you had an arrangement, albeit informal, he has not paid back the money as agreed and you are demanding payment of the money in full by a certain date, and that if that payment is not made you will institute proceedings. Sometimes this can get things going without the need for proceedings. If he skips out of the country though, it will probably be difficult to enforce any judgement you obtain.
If you have evidence of the fact that you have him a loan and he has not paid it back, you can institute legal proceedings in the small claims or Magistrates Court. A step shy of that, would be sending him a letter of demand, stating that you had an arrangement, albeit informal, he has not paid back the money as agreed and you are demanding payment of the money in full by a certain date, and that if that payment is not made you will institute proceedings. Sometimes this can get things going without the need for proceedings. If he skips out of the country though, it will probably be difficult to enforce any judgement you obtain.
I agree with Sophea. I will just add that contracts don't have to be written. They can be verbal and implied. Obviously it is harder to prove the existence of a contract without written evidence however a judge will look at the objective circumstances to determine whether a contract has been formed. So don't lose hope just yet. I agree with Sophea's advice regarding starting with the letter of demand and I believe from memory that a 'reasonable' amount of time to give someone is generally at least two weeks. However given that it is a fair bit of money you may need to give longer than that. If you do apply to a court, then they will want to see that you have taken reasonable steps to recover the money yourself.
I should add that I don't know where he is living and he no longer responds to messages so that might make everything a lot more difficult
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