Can anyone advise me, what legal action can be taken to get back the borrowed money?

Dear Friends;


I am in a big trouble now. An acquitance of mine has borrowed from me a large sum of money (I have taken it as a loan from bank) for relocating his business establishment from Musherieb, due to demolition. He borrowed the money in October 2010 saying that within 3 months, he will return it.


Till date, he did not return a single penny and I am in dire need of money now. Believing him, I did not take any document signed from him. He always says that he will return the money, but he is not giving me any date.


Please advise me what legal action can I take against him to get back my money.


 


 

Comments

tigabaguio

o dear, u reminded me of my past.. lending money with no documents.. now im poor as a rat..


if u have a witness when you gave him the money then u can use that fellow..


but i dont know how court runs here.. and em sure additional expense if u file a case on that man..


 


 

xxc

man! u r so screwed! open w bottle of wine, cry and learn ur lesson.

tinkerbell10

I am sorry you are in this situation but i think you are solely to blame for not taking it in writing that he owes you money. Anyway whats done is done.

Legally speaking there is nothing you can do to get your cash. If you can get someone known to both of you - someone who can appeal to his better sentiments and try to help - it seems the only way to me.

In future never loan money to anyone without any written document.

coxtown_rajan

If you both come from same country and same state ( from India ? ) take him to Mr Nizar Kochery, well known leading advocate, atleast ( legally ) you can gather support to threaten him to an extent. Pls be careful, if things go wrong, he might become nightmare for you. Atleast try to collect little amount now in writing stating the total amount received by him and returned back ........... and net balance to return......... with this doc you can start to play your cards on him. Try best of luck.

 

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