How to recover amount lent


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new_migrant   
Member since: Sep 11
Posts: 39
Location:

Post ID: #PID Posted on: 22-10-15 14:17:29

He had sent me a mail requesting for money with his transfer details. In a subsequent mail, he has acknowledged having received the amount as Loan and his intention to repay within a short period.



dimple2001   
Member since: Apr 04
Posts: 2873
Location: Western Hemisphere

Post ID: #PID Posted on: 22-10-15 14:47:43

Quote:
Originally posted by new_migrant

He had sent me a mail requesting for money with his transfer details. In a subsequent mail, he has acknowledged having received the amount as Loan and his intention to repay within a short period.



In that case, you have something to bank on and file the small claims. What was his definition of a short period? I am asking since it's only 2 months since you gave him money, and he might have assumed 6 months as a short period.


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Dimple2001


new_migrant   
Member since: Sep 11
Posts: 39
Location:

Post ID: #PID Posted on: 23-10-15 00:31:36

He initially mentioned he will return by end Sept. Later on our repeated requests, he said he was going thru a tight situation and would return the money in October.



ramar2005   
Member since: Sep 04
Posts: 1233
Location: India.

Post ID: #PID Posted on: 23-10-15 01:20:02

In addition to probable month of return, get a firm commitment on the date of return. Do not go by days like Thursday or Saturday, as they occur every week, but a definite date number. Unlikely, that he will honor his promise and in that case must be ready with a plan B to take away some household article of his with a story that a similar one in your household is under breakdown and hold his item till the return of money. Just to ensure that his cheating comes at a price and also something instead of nothing.


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new_migrant   
Member since: Sep 11
Posts: 39
Location:

Post ID: #PID Posted on: 23-10-15 10:39:39

Thanks to all those who posted and gave their valuable advice. Lets hope I am able to recover the amount fully. Will update.



vivek901   
Member since: Nov 08
Posts: 220
Location: Canada

Post ID: #PID Posted on: 23-10-15 10:41:54

I never lend money outside my core family..i always say to my friends " Paisa nahi hai"..doesnt matter if the friend feels bad.. cant help it.



new_migrant   
Member since: Sep 11
Posts: 39
Location:

Post ID: #PID Posted on: 23-10-15 10:49:20

Vivek, I think you are right. That fellow asked me money to pay for his son's university. My wife was touched by his request and hence we lent him money. But I guess now, I and my wife have to learn from this mistake.





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