Hello,
this is probably the only place I could ask for advice regarding money and family.
If a sum of money was loaned to a family member and they were unable to repay this amount of money due to financial reasons would the money be regarded as a loan under the Consumer Credit Act.
The sum of money was loaned in 2001 and unfortunately the only way to recover the money on a stable basis was through a County Court Judgement and salary deduction.
I am somewhat confused also as to the term 'contractual interest'. Can I ask for this to be added retrospectively or is there a stipulation at onset of the original Judgement ?
Any help or advice on this sensitive matter would be appreciated.
Thank you.
this is probably the only place I could ask for advice regarding money and family.
If a sum of money was loaned to a family member and they were unable to repay this amount of money due to financial reasons would the money be regarded as a loan under the Consumer Credit Act.
The sum of money was loaned in 2001 and unfortunately the only way to recover the money on a stable basis was through a County Court Judgement and salary deduction.
I am somewhat confused also as to the term 'contractual interest'. Can I ask for this to be added retrospectively or is there a stipulation at onset of the original Judgement ?
Any help or advice on this sensitive matter would be appreciated.
Thank you.
Family related debt.
