Lend money to a friend

busonan SG

Hi guys,

I borrowed money to my friend about two years ago. The amount was 20K+ and I also had the very simple IOU with me.

He did make monthly repayment during this years and now he only owes me 5K exactly.

But later, he started acting like a fool everytime I asked about paying me back. Can someone give me advise please ? I just want to have all my money back. As I am foreigner, I'm not sure how I can claim for the remaining amount.

Thanks !!

FireIce SG

ok lah 5k for a friendship and a lesson.....

busonan SG

5K is still too much for me wah

Besides, he's not my close friend that's why I was wondering if there's any way i can just warn him . . .

FireIce SG

the moment u lent the money to ur fwen, u shd be mentally prepared not to get it back

this is just how it works

nobardie cares abt the frenship shit anymore

sgdiehard SG

there is really nothing you can do to get your money back, legally!

learn from the daiyilong.... but don't do the illegal things. How much you can learn with 5k also depends on the process you take to recover the money. otherwise, just acknowledge that you paid 5K for a lousy money friendship in which you are the stupid loser.

DigiviceSG SG

must at least sign a iou. if not they will deny borrowing money from you

busonan SG

i do have an iou. i wont do any illegal. in fact, i was wondering anythign i can do legally with the iou :D.

tks for the advice anyway. i guess i should let it go , lesson learnt

charlize SG

wa, so lich.

Fongqinxuan SG

must sue to get back?

Bellahouse168 SG

Not a close friend & u still lent him so much money?

Bio-Hawk SG

Small claims tribunal can help you here I believe. Anyways 5K is not a small amount,see a lawyer if small claims can't help you.

Good that you have the IOU(legal validity may be contested) warning for others who lent the money to 'friends'.

wiselady SG

y dun you loan me 10K? you will get back 11K. Guaranteed!

Genesix32 SG

Maybe you ask him to pay in smaller installments? and try to use a more kelian tone

art85 SG

Less than $10k loan, can go small claim Tribunals (think this is within one year) or ask debt collector.

Less than $60k, see this http://cjc.org.sg/images/brochures/PJP_PrimaryJusticProject.pdf

cheaper than getting a lawyer directly...

Above $60k, go CrimsonLogic and fill up Requisition Form or get a lawyer to sue...

WoShiDavid95 SG

Is there a reason he stopped paying you back? Worse comes to worst, you can take him to court