Questions & Answers
The legal way of recovering money loaned to a friend
I gave one of my friends AED 50,000 back in Aug 2019 as a "Friendly Loan", and he promised to give it back within 45 days as he was facing some financial issues which I helped him based on our previous relationship.
I have from him a written letter with his name and signature stating that I gave him the money and he will return it within 45 days. The payment was delayed and I kept asking him when he can repay the money.
He was giving lots of excuses on the market which I gave him lots of break time to repay even with instalments to make it easier on him and can repay the loan but until now, we are in the same position.
He jumps from a story to another until I could not believe him any more that he will return the money.
I have many Whatsapp chats, his car registration and I would like to know how can I proceed to get my money from him and what will it cost me for that?
All my letters and conversations are in Arabic.
Hi,
You can demand repayment and recover your funds by issuing a legal notice. The legal notice will be drafted in accordance with the relevant UAE laws.
In the event of non-compliance with the legal notice, we may proceed with filing a case.
For further information, please contact us at our email.
Dear Questioner,
We can serve a legal notice to your friend and demand recovery of money from him.
In the event he fails to comply with the terms of the notice, then we can proceed with filing a case against him.
You can contact us on the phone for detailed discussion and assistance.
Thanks
