I gave £2000 loan to my nieces husband 2-3 years ago and he not paying me back

[Purpleflowers 2]

I'll wait until next the 5th see if they make payment by that time or not, if no payment is received by the 5th I will send letter FTMDave and Manxman in exile have done.

 

 Dear _____,

 

I refer to the loan of £2000 which I made to you on/in _____ (the exact date if you can remember it, if not the month).

 

I also refer to my lext message(s) which I sent to you and your wife on _____ to which I have had a reply that repayments of £100 would per month would commence starting the 5 May 2020. No payment has been received as promised.

 

I would much prefer to resolve this matter amicably rather than involve the county court with its inevitable costs, interest and issuing of a County Court Judgement, and am prepared to accept twenty consecutive payments of £100.  I ask you to sign and return the enclosed agreement within 14 days using the supplied stamped addressed envelope and to commence payments by _____.

I am retaining a certificate of posting from the post office as proof I have sent you this letter

 

Yours sincerely,

 

                                                                                                                                                           ______ (his address)

 

I, _____, agree to repay the sum of £2000 which I owe _____ in 20 consecutive monthly instalments, beginning on _____, with payment made by _____ (how you want to be paid).

 

_____ (signature)     _____ (date)

 

 

 

 

I've amended just in case they don't make the promised payment on the 5th, i'll wait until the 5th then send letter, thanks guys

[slick132]

Please tell us exactly what you said in the text msg but hide any identifiers, names, etc.

 

Also, confirm what their reply said.

 

Then we can suggest your best strategy.

[Purpleflowers 2]

The gist of the text message is'xyz borrowed £2000 2 years ago, needs to pay back in full or installments'

Reply received 'Is t o.k to make payments from the 5th for £100 a month?'

Edited April 26, 2020 by Purpleflowers 2
Layout tidied

[FTMDave]

That's excellent news.  Hopefully they will keep to the agreement and pay you back without the need for court.

 

But if they don't keep to the agreement at least you have some proof of the loan.  DON'T delete those messages!!!  In fact take screenshots and save them in various ways.

[slick132]

Hi Sofiaa,

 

If you don't get the payment on 5th May, come back and let us know.

 

The letter that FTMDave drafted for you earlier will need to be amended to take account of what's happened since in text msgs.

[ericsbrother]

the important thing is they have admitted the debt and agreed to pay it as a certain rate. Now if they dont keep that up you can at least take action to enforce the debt, which you couldnt before.

[BazzaS]

I disagree. The text doesn’t mean it suddenly becomes enforceable, as there is no new contract (as the text isn’t a deed and there is no new consideration creating a new contract).

 

The text is useful none the less, as it makes any enforcement action later more likely to succeed (rather than suddenly creating an enforcement opportunity), as

a) it is harder for the debtor to deny the original loan, and

b) the ‘clock’ on any statute bar is reset by the acknowledgement of the loan (and also by any payment). 

[Peterbard]

Yes as above, the main argument which debtors use is that theyte the debt becomes statute barred under section 6 of the  wee under the opinion it was a gift.  The family connection goes some way to indicate this, on balance of probabilities, however the notification from this goes towards disproving this.

 

Also on loans, the date the loan becomes barred from court proceedings  is 6 years, commencing  after the date you first sent the demand for repayment,  Something to  be aware of, as you may be 3 years into that already.

 

Can I ask how old the couple are, also since this your siblings daughter, how does he / she feel about all this?

[Peterbard]

Hi sorry my key board is having a fit .

 

I dont seem able to edit.

 

The first paragraph should read:

Yes as above, the main argument which debtors use, is that the were under the opinion it was a gift.  The family connection goes some way to indicate this, on balance of probabilities., However the text from the debtor  goes towards disproving this.

 

[Purpleflowers 2]

7 days left for the 5th not heard anything so far i think the text reply was just to make me happy but lets wait see

[Consumer dude]

I have some experience of this sort of issue, you should write a letter firstly formally requesting the return of the money.