enforcement of repayment of money owed

[ericsbrother]

Bit of an odd one this:

my daughter took out a loan on behalf of another relative (in-law) of £15k on the understanding that the whole sum and any interest would be repaid upon the completion of the sale of a property but in any case the borrower would service the loan by paying her the monthly amount due.

there is now a irreconcileable rift between the 2 parties and the in-law failed to pay off the loan but maintains the payment of the money to service the loan via a business account that is not anything to do with the agreement.

Is it possible to force the repayment of the total amount still owed ( she would prefer to clear the loan as there is another 4 years to go as things stand) or does she have to just sit it out and accept the monthly payments?

I think there has been a breach of the agreement made at the outset but would a court order the payment in full as the person who owes the money has(had) plenty from the property sale as it was one they rented out or would they say that the change to the original agreement by way of the service payments had created new terms?

 

Your thoughts please

[brassnecked]

Is there anything in writing between the parties, or was this a verbal agreement.  Presumably the monthly payments are automatic from that business account?

[ericsbrother]

nothing in writing, the paper trail only shows where the money came from and where it went so that bit is easy to see that it wasnt a gift or the like.

The payments from the business account are by standing order without a suitable reference. Reason for that is it is a less than honest company and the loan was used for mortgage fraud, hence daughter wanting out now rather than in 4 years time. She doesnt want to be saddled with a loan debt whilst the in- laws are eating porridge in a govt hotel.

Relationship now so bad consequences of legal action no longer matter.