I lent someone R50k as an investment to ...

Asked by Anonymous on 19-02-2020 14:24:27
Question posted in the General Law category relating to Gauteng

I lent someone R50k as an investment to be paid back double.  I transfered R50K on the 11th of Jan 2019.  Before agreeing to lend him the money, we had a contract signed by each other that payment will be made to me at the end of May 2019 and should I not receive payment, then 10% interest will be charged for each month I dont receive payment.  The money was to be used as we agreed and he decided to use it for something else without notifying me. To date I have not received anything.  I has saved all our what's app conversations, where I was promised payment or the constant excuses of why the is no payment or just no response.  

What do I need to do to go the legal route to get my money, with interest where he will need to pay the legal cost

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