I lent a friend some money from my credit cards,its about three years running now,what can i do? I need help.l

he said he would sell his inheritance abroad to pay me back,he tried to repartriate the money but the money got stuck because the bank was being investigated for fraud.This went on until he was advised by another friend of mine to go to the banks headquaters in London,to meet with one of their directors.They investigated and kept asking him to come today and come tomorrow,all to noavail.Then he went to the C.A.B,then the lawyers at the cab took his bank to court,the court ruled in his favour last summer,but they still did not pay out,i still had to carry on servicing this debt in the meantime.Then,came the twist,my friend was under investigation by scotland yard,something to do with fraud that someone else committed,because his name was mentioned in the statement another perpetrator had made.Then he was interogated and cleared,but still had to go to the UnitedStates for a final interrogation,was cleared,and they still have not paid out.His bank has to wait for their say so.I need help!

I lent a friend some money from my credit cards,its about three years running now,what can i do? I need help.l
One does wonder how much of his story can be corroborated, because it sounds quite a bit like a scam if you ask me. Chances are, you will not see that money.
Reply:I'd say suck it up and drive on dude... learn the lesson of never loaning money to someone on your credit card in the future. You're never going to see that money, even if the bank does pay him...in fact the bank already did and he's just stringing you along.
Reply:sorry you got into the situation but hopefully atleast you can say lesson learned. it is very dangerous to lend money to friends as it usually ends up ruining a relationship%26lt;although it doesn't sound that way here%26gt; i would swallow the debt and hopefully your friend is a true friend and will pay you back regardless of if you expect it or not. Good luck!
Reply:A true friend probably wouldn;t have borrowed in the first place, or at the very least made an effort to repay. Sounds like you'll be waiting for your money for a long time if you get anything back at all. I would start to press him to repay, if not, small claims court.
Reply:Just accept it was a gift to him and pay your credit card bill as best you can. You're never getting that money back, and if you do? Then consider yourself lucky.





It doesn't sound like you got anything in writing, therefore he is not legally bound to pay you back.





As Polonius said to Laertes: "Neither a borrower nor a lender be."
Reply:Let me make this perfectly clear,





You CAN NOT give what you DON'T have!





You didn't have the money in your checking or savings to give -- then don't give.





It really IS that simple.
Reply:it sounds like your from out of the country, so i'll only tell you what i know of us law.


an oral contract is like a written contract, but harder to prove. and in law, time is of the essence. when you make an oral contract with someone, you could have just a couple of years before the statute of limitations for suing runs out. you might want to see what the limits are for where you are because if time runs out for you, there is no legal recourse.
Reply:You should never draw money from a credit card. The Interest is very high and it will take you longer to pay for the money you cashed from the credit card than buying goods from it.
Reply:Sorry to hear about your situation, but you're an adult and you must be responsible for your actions. credit cards or no credit cards your responsible to the person you owe debt to, just like your friend who owes you debt. Go back and read the contract you signed with the credit card company and now go back to the contract you gave your friend for this loan. Ok. here's the question to you, did you create a contract when you lend your friend the money? I think you understand where I am going with this........ Take care and I hope your friend follows through soon.
Reply:you can either sue him or admit that you'll never see the money--he clearly has no intent on paying if he hasn't at least made payments by now
Reply:Never lend money that isn't your own. That much should hopefully be clear by now.





Never lend money to criminals. That's step two. This guy is clearly trouble, though you seem to believe he's just dandy anyway.





The only thing you can do is keep paying or pay off those debts yourself, and hope that some year you might get your money back.
Reply:I would probably keep in touch with him and not give him any more money until he pays you back. It might be a while, but if it's alot of money he borrowed, it's worth the while. Hope it helps!


Jennifer
Reply:I think someone took you for a ride.