Questions & Answers
How can I get the money I lent to a friend who refuses to pay it back?
Dear Advisors,
One of my friends borrowed AED 22,500 from me on March 2022. He said he will return the money in one month, but he didn’t.
I asked many times. After 3 or 4 months he started paying gradually. On September 16, 2022, he paid a total of AED 16,500 and promised he will pay the remaining AED 4000 as 1000 every month.
But he is not returning my balance amount of AED 4000. Now it's been almost 10 months he never shows up and hardly responds to the call. Every time commit to paying it off the next week or next month, but all just lies.
He lives in Dubai and runs a marketing business. Every time he keeps changing the date. I have WhatsApp chatting.
How can I get my money back?
Please help, your prompt response will be highly appreciated.
Thanks!
There are two options that can be done for you:
(i) Lawyers to serve a legal notice and follow up with the other party (the debtor) consistently to settle the matter; or
(ii) To consult a lawyer and file a case in the court of the relevant jurisdiction.
Companies should ideally approach lawyers with a dedicated debt recovery practice to recover their outstanding funds with the least effort.