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Getting my money back

3 replies

VeritySmithy · 04/03/2015 15:57

A few years ago I loaned a friend £20k. She was in a lot of debt and was going under financially and emotionally. We drew up an agreement which we both signed saying she would pay me back a regular amount each month but if ever I wanted the whole amount back she would pay it back within 3 months.

All was fine until the friendship cooled. I haven't spoken to her since then but she's carried on paying the regular amount agreed.

I don't want this to carry on any longer and want my money back. I presume she'd have to borrow from someone else or get a loan to pay me.

How do I word a letter to her to request my money back? I'd like it to sound as though I know what I'm doing so she's knows I'm serious. She's a decent person and i think will keep paying the agreed amount but I don't want this carrying on for another 20 years with someone who no longer even speaks to me.

Any legal people out there who can advise?

OP posts:
SnottyCowbag · 04/03/2015 18:06

With something as important as this I think it might be worth paying for proper advice. (Not saying Tha MN'ers give bad advice though Smile )

Do you think she would be able to get a loan for the money?

VeritySmithy · 05/03/2015 00:03

Not sure. I think the current situation - paying the loan off over a very long period of time is what she'd prefer, but obviously not what i want.

OP posts:
Collaborate · 05/03/2015 10:06

Dear X

Under the agreement we signed on [date] I am able to require you to repay the outstanding loan balance (currently £x) by the giving of 3 months notice. Please can you repay me in full no later than [date 3 months and 1 week away].

Add whatever other guff you want.

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