Loaned a Friend Money and Can't Get it Back. What Legal Options Do I Have ?

[Pompah]

I loaned a friend $2500.00 via bank transfer with a verbal agreement to pay it back in $500.00 lots. After 12 months still no payments and when asked for it no further contact from him. What steps can I take to be repaid. Can I go to his employer?

 

[John R]

Hi Pompah,
Which state/territory are you located in?

 

[Pompah]

Hi Pompah,
Which state/territory are you located in?

Hi John, I'm in Queensland. Thank you for the reply

 

[John R]

Hi @Pompah,

1. As a starting point, you may consider drafting and sending a Letter of Demand to your "friend". ArtsLaw has a sample Letter of Demand and further information about debt recovery of small claims in Queensland.
2. If your "friend" does not respond, you can take your debt dispute to the Queensland Civil and Administrative Tribunal (QCAT).

Hope this helps. Please keep us updated with your progress.

 

[Tim W]

I agree with John R.
And just to be clear - no, you can't "go to his employer".

 

[Pompah]

Hi @Pompah,

1. As a starting point, you may consider drafting and sending a Letter of Demand to your "friend". ArtsLaw has a sample Letter of Demand and further information about debt recovery of small claims in Queensland.
2. If your "friend" does not respond, you can take your debt dispute to the Queensland Civil and Administrative Tribunal (QCAT).

Hope this helps. Please keep us updated with your progress.

Good morning John,
Thank you for your help and advice as it is just what I needed . I thought there was an agency I could go to but did not know which or where to find the right one. I will follow your advice and will certainly update you of the outcome. You're a gem.

 

[Pompah]

I agree with John R.
And just to be clear - no, you can't "go to his employer".

Hi Tim,
Thank you for your interest and I will follow the advice given, I worded the reference to "his employer" very badly as I meant to ask if I could approach him regarding if my "friend" was still employed with the Company or not. If he was no longer working there it would probably indicate that he { friend} had done a bunk. Again thank you.