Money back from borrower
7 months ago
5 years back I have given my credit card to one of my friend and he used all the credit amount and other than that I have helped him with money also. But till date he is not returning my money which is about 1.3 lakhs debt and ignoring all my calls and messages. I want to file a police complaint against him to get my money back only. Do i need to also pay to police and lawyers to get the amount back and how much I need to invest in this. Need some clarity on this money matter.
A.Dear Client,
Attempt Amicable Resolution: Before involving law enforcement or legal action, you could try to resolve the matter amicably. Communicate with your friend, remind them of the debt, and try to work out a repayment plan.
Formalize the Debt: If you had any written agreements or evidence of the debt (emails, text messages, IOUs, etc.), gather and organize this information. It can be valuable if you decide to pursue legal action.
Legal Notice: You may consider sending a legal notice through an attorney. This formal notice could demand repayment and establish a legal record of your claim.
Filing a Police Complaint: If your efforts to resolve the matter fail, and you believe there is clear evidence of fraud or deceit, you can file a police complaint against your friend for non-repayment of a debt. Police complaints are typically filed at your local police station. There may not be a fee for filing a complaint, but you should confirm this with your local police department.
Legal Assistance: If the police complaint does not yield results, you may need to pursue legal action through the civil court system. This might involve hiring a lawyer, paying court fees, and investing time in court proceedings.
Small Claims Court: Depending on the amount involved, you might consider filing a case in the Small Claims Court if it falls within the jurisdiction of such courts. These courts are designed for relatively smaller disputes, and the process is often simpler and less expensive.
Legal Costs: Legal costs can vary widely depending on your location, the complexity of the case, and whether you hire a lawyer. It's essential to discuss fees with your attorney upfront and explore your options for legal aid or pro bono services if needed.
Thank you.
Attempt Amicable Resolution: Before involving law enforcement or legal action, you could try to resolve the matter amicably. Communicate with your friend, remind them of the debt, and try to work out a repayment plan.
Formalize the Debt: If you had any written agreements or evidence of the debt (emails, text messages, IOUs, etc.), gather and organize this information. It can be valuable if you decide to pursue legal action.
Legal Notice: You may consider sending a legal notice through an attorney. This formal notice could demand repayment and establish a legal record of your claim.
Filing a Police Complaint: If your efforts to resolve the matter fail, and you believe there is clear evidence of fraud or deceit, you can file a police complaint against your friend for non-repayment of a debt. Police complaints are typically filed at your local police station. There may not be a fee for filing a complaint, but you should confirm this with your local police department.
Legal Assistance: If the police complaint does not yield results, you may need to pursue legal action through the civil court system. This might involve hiring a lawyer, paying court fees, and investing time in court proceedings.
Small Claims Court: Depending on the amount involved, you might consider filing a case in the Small Claims Court if it falls within the jurisdiction of such courts. These courts are designed for relatively smaller disputes, and the process is often simpler and less expensive.
Legal Costs: Legal costs can vary widely depending on your location, the complexity of the case, and whether you hire a lawyer. It's essential to discuss fees with your attorney upfront and explore your options for legal aid or pro bono services if needed.
Thank you.
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A.Sear Cling,
In the absence of any documentary proof, you may not be able to recover the money lent by you 5 years back from your friend. The liability for repayment of Credit Card dues lies solely on the cardholder. So, in the prevailing situation, try to negotiate the matter with the Bank to resolve the issues amicably. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path forward to repay your debt.
In the absence of any documentary proof, you may not be able to recover the money lent by you 5 years back from your friend. The liability for repayment of Credit Card dues lies solely on the cardholder. So, in the prevailing situation, try to negotiate the matter with the Bank to resolve the issues amicably. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path forward to repay your debt.
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