Ansan Law Firm Assistance Case | The Ansan Law Firm's Assistance Leads to Full Recovery of the Loaned Money

The client wished to pursue a lawsuit for the return of a loan against a close friend.

The client received a message from a friend who said there was a good investment opportunity and promised to repay several times over if the client lent the money.

Out of consideration for their usual friendship, the client lent the money without setting any interest or repayment date.

Having lent money on several occasions, the client requested its return when the friend did not repay.

However, the friend only stated that the matter would be resolved and did not repay the money.

The client therefore requested the assistance of the Ansan law firm in order to pursue a lawsuit for the return of the loan against the friend.

The Ansan law firm explained that, in the situation above, a 🔗lawsuit for the return of a loan could be pursued.

If a debtor does not repay money without justifiable reason, a lawsuit may be filed to recover the loaned money through legal procedures.

However, care is needed because a period of extinctive prescription applies.

The statutes relevant to a loan lawsuit are set out below.

▶ Article 598 of the Civil Act (Definition of a Loan for Consumption)

A loan for consumption becomes effective when one party agrees to transfer to the other the ownership of money or other substitutes, and the other party agrees to return the same in the same kind, quality, and quantity.

▶ Article 390 of the Civil Act (Nonperformance of Obligation and Damages)

If a debtor fails to perform in accordance with the substance of the obligation, the creditor may claim damages. However, this shall not apply where performance has become impossible without the intent or negligence of the debtor.

▶ Article 393 of the Civil Act (Scope of Damages)

(1) Damages for nonperformance of an obligation shall be limited to ordinary damages.
(2) The debtor is liable for damages arising from special circumstances only where the debtor knew or could have known of such circumstances.

*If you would like a more detailed review, please proceed with a 🔗legal consultation with an attorney.

Relying on the usual friendship with the defendant, the client took out a loan and lent the money.

However, the defendant did not repay it.

The Ansan law firm argued that the client had fallen into financial difficulty because the defendant did not return the loaned money.

The Ansan law firm emphasized that the client was experiencing mental stress after being betrayed by the defendant.

It therefore argued that the defendant should return the loaned money as soon as possible.

The defendant told the client several times that the money would be returned.

The Ansan law firm argued that, under this agreement, the defendant had a duty to pay the amount to the client.

The client who requested the assistance of the Ansan law firm prevailed in the lawsuit for the return of the loan and was able to recover the full amount of the loaned money.

At Daeryun, we provide comprehensive legal services for lawsuits seeking the return of a loan, from sending a certified content-proof letter to compulsory execution procedures.

If you are in a situation like the one above, please request the assistance of an 🔗Ansan attorney.