bounced cheque what now?

[catcuddler]

a friend of mine initially asked to borrow �60 from me which i lent him.he promised to pay back asap.over the last few weeks he has borrowed more and more promising 2 write me a cheque which he did.he wrote me to one from his personal account 1 from his business account both of which bounced.he has now written me one for the full amount �490 which i am gonna pay in on monday.if this bounces any ideas what to do next?sorry for such a long question.all answers appreciated

[CharlesW]

Hi, if a cheque bounces it is sometimes re-presented to the bank for payment, this usually happens if the bank can see that the money to honour the cheque will be in the account over the next few days.
However, if the bank can see no sign of the cheque being paid, they will send it back stamped "refer to drawer". If you ask them about it, the bank will tell you to take the cheque back to your 'friend' and ask for cash.

I have recently been written some rubber cheques, I'm actually waiting for another one to clear right now.
If I lent money to a 'friend' and had trouble getting it back, I'd strike them of my 'friends' list, pay a visit to their house and borrow a few valuable items from them.

[catcuddler]

thanx for your advice but i was wanting to find out about my legal options before borrowing expensive items although its a good idea

[Ethel]

The only legal option is to pursue a small claim in the County Court.

You will undoubtedly get the judgement, but if he doesn't pay, it costs more to enforce it - bailiffs, attachment of earnings and so on.

Sometimes the threat of court action prompts payment, but not always.

[catcuddler]

would i need proof of how much he borrowed?i have proof by txt message of some of it but not all.
would a firm but fair letter through the door help?

[Ethel]

The bounced cheque will be proof enough.

That is proof he had cause to give you that amount, and proof that he didn't.

[mightylegend]

People dont realise that having a cheque guarantee card (and getting even the numbers from it and name and address of card holder on back and writing card limit and even telephone number , as were required 3 years ago when i worked as a manger at pizza hut )

All of that doesnt guarantee the bank will pay.
When i was manager at another takeaway business we stopped accepting cheques.The halifax was the worts for sending cheques back for youto represent.you were charged fro doing this tho a charge of 15 quid per cheque.so pointless for a 15 quid cheque or less.


Cheques arent as safe as credit cards or debit cards

[bednobs]

stop lending him money!

[catcuddler]

i know that now bednobs and will b stciking to the old saying 'never a lender nor borrower be' but it doesnt help me much now

[catcuddler]

anymore ideas?

[sandmaster]

Ethel is correct as usual. County Court is the only way forward and the cheque is proof the debt is owed and not satisfied. You will undoubtedly get judgement but you will then have to consider if it is worthwhile enforcing it. If your friend has his own home and contents then it may be worthwhile. The CCJ registered against him should prevent him getting credit in the future (even renting a tv etc) so at least you will have some satisfaction.
If he is a man of straw, and has other CCJs already, it may be a complete waste of your time and money. Just let your mutual friends know the facts.

[catcuddler]

thanx to you all for taking time to answer i will keep you posted

[lizzydrippin]

Its so disappointing isn't it Catcuddler when you trust someone to pay back money you've been kind enough to lend them. Especially if its hard earned cash that you can ill afford to kiss goodbye to. I hope you manage to get it.

[MsEVP]

Sorry I can`t help you, Catcuddler (wot a lovely name!) with the legal side but here`s some advice I learned from my first husband.

If you can afford to write it off always lend money to someone with the first asking. Thenafter if that debt has not been paid pack, you can in all good conscience refuse any more requests from the same person.

Good luck

[catcuddler]

thanx lizzydrippin i am dissapointed but i am still in contact with him so i will see what he says
MsEVP thanx for your advice i will keep u posted.i am called catcuddler cos i have 5 cats which i cuddle a lot and it sounded nice :-D

[catcuddler]

update....
the 3rd cheque bounced but is stamped with account closed
what now?
all answers appreciated