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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 43531
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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I would like advise on whether I can retrieve a loan to

Customer Question

Hi , I would like advise on whether I can retrieve a loan to a family member. The loan can be verified but no written contract has been drawn up. The member refuses to acknowledge there was ever a loan , will not enter into a repaymen agreement. I live
in western Australia. Thanks Terry
Submitted: 1 year ago.
Category: Australia Law
Expert:  Leon replied 1 year ago.
Good Evening
My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question.
Is there anything in writing either emails etc that can verify that it was a loan?
Anyone witness the agreement?
Customer: replied 1 year ago.
yes , mainly verbal , copy of bank transaction , copy of a written list by the person with debts that's needed to be paid on the settlement of a separation agreement between him and his separated partner.
Customer: replied 1 year ago.
yes there is a witness to the agreement
Expert:  Leon replied 1 year ago.
Good Evening
You can rely on all of that and sue them in court.
How much are we talking about?
What have you done to protect yourself so you don't lose the money?
Customer: replied 1 year ago.
$16,000
Customer: replied 1 year ago.
probably not a last , fatal mistake I guess in that you trust family members , verbal agreement was it would be paid back when a property was sold and the offer was to ad an interest factor up to $25,000
Expert:  Leon replied 1 year ago.
Good Evening
Register a caveat in the title of the house if they have a house.
Send them a letter of demand asking for them to start making repayments and if they don't then you sue them.
You can claim interest and also costs of the court action. It can be started in the Magistrate Court.
The documents you have and the witness will be your case.
I hope this makes sense and if there is nothing further thank you for using my services.
If I have missed anything, or you have any further questions please let me know
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
Regards
Leon
Customer: replied 1 year ago.
probably not a last.......probably not a lot
Customer: replied 1 year ago.
is there a regulated interest rate and is this compounding
Customer: replied 1 year ago.
hello Leon , are you still online
Expert:  Leon replied 1 year ago.
Good Evening
The magistrates court has a set interest rate.
Here is some information
http://www.magistratescourt.wa.gov.au/_files/Civil_factsheet_7.pdf
The court can give you details of what the rates are for the different periods.
Customer: replied 1 year ago.
ok thanks , that answers my query .
I have paid the $81 which is fine , but just noticed that it mentions this is $81/month . Is this an ongoing fee I have committed to'
if so I need to cancel this .
Expert:  Leon replied 1 year ago.
Good Evening
I am not sure what you subscribed to.
I will pass it onto the administrators to contact you.
Please do not forget to rate my work as I only get paid if you give me a positive rating.
Good luck with it.
Customer: replied 1 year ago.
thanks and will rate yr work , cheers
Expert:  Leon replied 1 year ago.
Good luck with it.
You are very welcome and thank you for using my services.
If I have missed anything, or you have any further questions please let me know
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
Regards
Leon
Expert:  Leon replied 1 year ago.
Good Evening
I'm just following up our discussion earlier this week and seeing whether there is anything else I can assist you with.
If I have missed anything, or you have any further questions please let me know.
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
I look forward to hearing from you.
Regards
Leon