If you lent one of your best friends a large sum of money to assist with having some renovations done to their home and the individual promised to pay you back on a monthly basis, it can be very disconcerting if the person breaches on their promise to you.
Speak To Your Friend
Don't automatically assume that the situation is useless and that your friend will forego paying you back. You likely want to make the situation as smooth as possible, so keeping calm and speaking politely to your friend should be one of your concerns.
Call your peer up and ask them if they would like to meet with you to have lunch or spend some time speaking about what each of you have been up to. Do not mention the money that is owed at this point because it may scare your friend off and result in them trying to avoid spending time with you.
After arriving at the designated location, ask your friend to sit down and inquire about how their renovations are going. Reminding the individual about the work that you lent the money for may open up the lines of communication.
Try To Come Up With A Plan
If your friend admits that they are sorry for slacking off and states that they would like to begin paying you back shortly, mention that you think that it would be best if the payment arrangement is in writing so that you both will be aware of the repayment terms.
A repayment schedule can be written or typed. Afterward, the schedule should be notarized so that it is legal and valid. Give your friend the benefit of the doubt and wait for them to begin repaying you. If the payments are not made, however, it is time to seek legal advice.
Hire A Litigation Attorney
Hire a civil litigation attorney to represent you throughout the legal proceedings. Provide the payment schedule and copies of checks or money orders that were given to your friend when you first lent the money that was needed to make the renovations.
This information will prove that you lent the money in good faith and that your friend had intended to pay back what they owed. If a judge is on your side and believes that your friend is responsible for paying back the sum of money, a judgment will be made against your peer.Share
28 July 2018
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