A mother lent her son a substantial amount of money in order to assist him with a property purchase. After the transaction, she found that she had no security as promised for the personal loan. Then the son claimed that she had given him the funds and he had no intention of repaying. What should she do?
SA Recover Funds Lent to Son to Assist in Property Purchase?
- Thread starter Ebenezer
- Start date
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- Tags
- personal loan
Hi there,
Are you asking for yourself or on behalf of someone else?
What evidence do you/they have that the money was a loan and not a gift? Do you/they have any correspondence or is there someone (or several people) who can verify that the money was a loan? Because if the matter ends up in court, you/they are going to need to be able to prove that the money was a loan.
Here are two blog posts with good information about personal loans and recovering debt:
Personal Loans, Co-Borrowing and Guarantees: Are You Going to Get Your Money Back? - Legal Blog - LawAnswers.com.au
How to Recover a Debt - Useful Tips - Legal Blog - LawAnswers.com.au
Are you asking for yourself or on behalf of someone else?
What evidence do you/they have that the money was a loan and not a gift? Do you/they have any correspondence or is there someone (or several people) who can verify that the money was a loan? Because if the matter ends up in court, you/they are going to need to be able to prove that the money was a loan.
Here are two blog posts with good information about personal loans and recovering debt:
Personal Loans, Co-Borrowing and Guarantees: Are You Going to Get Your Money Back? - Legal Blog - LawAnswers.com.au
How to Recover a Debt - Useful Tips - Legal Blog - LawAnswers.com.au
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