I leant £14,000 to a colleague and he won't pay it back even though I know he has the money, how can I get it back?

Do you have proof that this transaction occurred ?

If so, send them a recorded Letter Before Action asking for the sum to be returned, either in one payment or by instalments, otherwise you'll file a court claim

Massively unfortunately no :( We rented a workshop together we were good for money at the time-it was a friendly loan. Need it back now though

Well try the Letter Before Action and see what happens.

Ps Can I be your friend ;)

What do u mean letter before action-i can't turn back time :S

what do u mean letter before action-i can't turn back time :S

Because Curly is capitalizing the phrase, one would think perhaps he means some sort of official form. Otherwise, probably he is suggesting that you send a demand letter before instituting a lawsuit. Something like this:


"Dear ____:

This is to inform you that the £14,000 I lent you on [insert date] is now due and owing. If you have not made full payment of this sum within ten days of the date of this letter, I will be forced to file suit.

Regards,"

OK :) and then if he doesn't respond to this?

Letter Before Action means exactly that.
You want to request repayment OTHERWISE you will take legal action.
You need to give them AT LEAST 14 days to respond, under UK law.

Ok thanks for you help-although I highly doubt he'll respond to me as he's ignored everything else

Can you demonstrate that this money was given to him ?

Not really-technically it's a case of my word over his. Drugs have got the better of him and I'm the one who lost out as I am too kind :(

Well try the LBA on registered mail and see if it helps.
Worth a couple of ££ for the stamps ;)

Considering the value of the claim this would be under Fast Track claims and potentially costly.