How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Thomas Your Own Question
Thomas, Lawyer
Category: UK Law
Satisfied Customers: 7609
Experience:  BA (Hons), PgDip, Practising Solicitor
Type Your UK Law Question Here...
Thomas is online now
A new question is answered every 9 seconds

I took out a loan for £7500 on behalf of a friend who I thought

This answer was rated:

I took out a loan for £7500 on behalf of a friend who I thought was trustworthy. However they have failed to make any payments. I've tried numerous times to sort this out with them to no avail and now they are ignoring any contact I make with them. I have proof that they owe me this money and want to know what I can do to make them pay this. I am not well off and can't afford to keep paying it for them. Any advice would be appreciated.

Did you transfer the whole of the £7500 to them?

Why did you agree to do this?

What evidence do you have that this was a loan and not a gift?

What was the agreement with them, was it simply that they would make all the repayments to the loan company?

Customer: replied 4 years ago.

I was a guarantor on a loan for them. They got into difficulties and I was making most of the payments which was putting a strain on my finances and they owed me a lot of repayments. She is now back in full time employment as is her husband and they moved to cheaper accommodation. As making payments to them and repayments to me would be costly, I agreed to take out a loan to pay off the loan I was gurantor for and pay me back what she owed me as I now had a credit card debt. The monthly amount was now reduced to £141 pm which she said would be affordable to her. Basically I would take out the loan and she would make the monthly payments.


What evidence do you have that they they agreed to pay you back?

Customer: replied 4 years ago.

I have several messages from her where she agrees she owes me the money and promises of payments and statements where it shows I paid the finance company.


Thanks for your patience.

From the perspective of the loan company the principle liability is with you.

They will not care that you may have a separate agreement with your friend for her to make the repayments because you are named on the Contract with them. Therefore, you will have to ensure that the repayments are met in order to avoid them taking action against you and issuing proceedings at county court for a CCJ.

Ideally you would have a wrriten statement signed by her about the repayment of the loan and the consequence. However, the acknowledgment that you have from her in the form of text messages is a reasonable start. You would probably be able to issue a claim on the basis of these messages.

You should write a formal letter to her stating the details of the loan and that you require the money to be paid back (or a repayment plan suggested) within a reasonable time (eg 7-14 days). State that you are prepared to issue a claim at Court for the outstanding monies if necessary.

If this does not illicit a response you should ask a solicitor to draft a Letter Before Action to her. This will be cheap and may bring home your commitment to recovering the money.

If no response is received then you can issue a claim yourself through Her Majesty's Courts Service's online service . It's very straightforward to use and pretty cheap

Provided that she accepts that she does owe the money then you would probably get a money judgement in your favour, it’s just that if she genuinely does not have the money then enforcement is a bit more difficult and so you may end up with a repayment rate that is not to your liking but it’s better than nothing.

Please remember to RATE my answer OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE or above if you are satisfied that you have received the correct legal advice (even if it is not the answer you wanted to hear), otherwise I do not receive any credit for answering your question.

If you are not willing to rate my answer as OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE then allow me to assist further by replying asking what clarification you require rather than rating my answer at levels below.

If you wish for me to provide you with further guidance on any question you may have in the future then please submit a further question to the board requesting me either by my profile or by marking your question. “FAO Tom”.

Kind regards,

Thomas and other UK Law Specialists are ready to help you
Customer: replied 4 years ago.

Thank you for your help

No problem.

Thanks for ratingh my answer.