A lender must establish the existence and terms of the loan, the amount advanced, the applicable repayment obligation, the borrower’s default, and the balance owing. A formal loan agreement is valuable but not always essential. Bank records, emails, text messages, acknowledgements, payment history, and the parties’ conduct may also establish the obligation.

Important issues may include:

• Whether the loan was payable on demand or on a fixed date;

• Whether a demand was legally required before commencing proceedings;

• Whether interest and default charges are enforceable;

• Whether the borrower acknowledged or partially repaid the debt;

• Whether a guarantee covers the amount claimed;

• Whether security was granted for repayment; and

• Whether a limitation period has expired or was renewed by an acknowledgement or payment.

We assist with:

• Reviewing loan documents and calculating the amount due;

• Preparing formal demands and notices of default;

• Negotiating repayment agreements and forbearance arrangements;

• Commencing Small Claims Court or Superior Court proceedings;

• Seeking default or summary judgment where appropriate;

• Enforcing guarantees and indemnities;

• Preserving assets pending judgment in exceptional cases; and

• Enforcing judgments through garnishment, writs, and examinations in aid of execution.

Relevant evidence commonly includes the loan agreement, promissory note, proof that funds were advanced, payment records, correspondence, demands, guarantees, security agreements, and information about the borrower’s assets or financial circumstances.