Recovering a personal loan given to a friend without documents

Dear Questioner,

Please note that borrowing any money from individuals who are not licensed by the Central Bank of the UAE is not allowed. However, I assume this was a friendly loan without any interest.

As this is a friendly loan, I am not sure there would be proper documentation. If there is proper documentation, then you can easily file a criminal complaint.

Further, you have not mentioned what was the mode of payment. I mean you gave the amount to the other party by bank transfer, cheque or by hand. If it is a cheque, that would serve as a good proof.

I would suggest you hire a lawyer so that the lawyer can serve a legal notice on behalf of you demanding the return of the amount by giving him a final warning to return the same within a stipulated time period.

Hope the above explanation gives you proper clarification. Please feel free to contact me if you need any further assistance or information.

Thank you.

Regards,

Rajasree Ravivarma

0544461746

cloudsdarker@gmail.com

Dear Questioner,

Do you have any agreement signed with your friend or any communication with him regarding the loan?

How did you transfer the amount of the loan? Do you have a guarantee cheque for the borrowed amount?

If yes, I will suggest you submit the cheque to the bank and see if there are enough funds to cover the borrowed amount.

If you don't have a guarantee cheque, I suggest you hire a lawyer to send him a legal notice.

In case I can be of assistance, please contact me at rg@elnaggarlegal.com

Best regards,

Raluca Gatina