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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22969
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I have lent a substantial amount of money to a client/friend

Customer Question

Hi there,
I have lent a substantial amount of money to a client/friend of money when he was desperate for money for his business. I also bought a car off him to help him out while knowing he was still owing the finance company. The car was eventually repossessed, he instructed the finance company to pay the excess proceeds into his bank....I had to borrow money to help he is not picking up my phone calls changes his numbers but still running his businesses....Do i have any legal rights here
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

You can bring a claim against him in the District Court, if the total money advanced is under $200,000. The best way may be a summary judgment application if you know the exact amounts he owes, and any interest. It can be based on a verbal agreement if you have not documented the claims in writing. This is not a difficult process but I would recommend using a lawyer and you can claim costs for the case as part of the claim. Summary judgment is a fairly fast process, and will bring this to a head quickly.