Loan given to individual not being returned

what proofs do you have that he avail a loan from you

manoj

advocate

8686159292

I have the bank transfer  notices with details of the account the money was transferred from and to the account of the receiver. 

I do send him   spreadsheet reminder each year.   But he has verbally acknowedlged that he owes the money.  No  projected dates and amount of 

payback is given. 

you cannot succeed in your case. Better make attempts with mediators so that it may help you, otherwise if you want to enter into the Judicial steps, you may not be succeed. Its my opinion

manoj

advocate

8686159292

Money given to friends and relatives is always a charity in the garb of loan which is given in expectation of refund but always taken with intention of non-refund.

Such loan is taken by a person:-

1. Who lacks business sense and cannot raise funds out of his own business and suddenly wants to be rich.

1. who cannot raise bank loan because :-

Either

he himself is not creditworthy

Or

 the purpose for which he seeks loan is illegal

or

the purpose for which he seeks loan is not at all commercially viable.

1.  Who knows he can afford not to refund.
2. Who trusts his thick skin
3. Who intends not to refund
4. Who has made fortification against action of refund.

So he has to find someone who can part with his money. SO he finds a lender near him (friend or relative)

Such loans are given by the persons :-

1. Who has surplus money.
2. Who displays and boasts of such surplus money.
3. Who stupidly believe that there will be a refund.
4. Fails to realise as to why he alone (not bank) is being contacted for loan.
5. Who has extreme trust on the debtor
6. who are either stupid or extremely greedy of the unusual (or illegal) rate of interest.

Such loans are always given

1. Without documentation.
2. Without witness
3. Without guarantor.
4. During cordial relations

Soon after giving such loan :-

1. Relations are no more remain cordial
2. Business started by such money  (easy money belonging to other) invariably fails.
3. Such loans always sink and not refunded.
4. Person seeking such refund suffers at legal process.
5. Person seeking such refund legally or by persualtion is socially criticised.

Loan was given way back in 2010. Your claims may not really succeed, as there is only verbal committment from his side. Best to take mediation steps.

If you feel you want to go via judicial remedies, then please file a recovery suit before the civil court. But be warned, that this could go on for many years.

when was due date of return? any agreement