Earthly Sharing | Folk Loan Disputes - [Loan Repayment and Debt Transfer]
Publish Time:
Jun 27,2023
Source:
01
Proof of Repayment
If a debtor admits to borrowing money and claims to have repaid it but fails to provide proof, they remain liable for the borrowed amount.
02
ATM Machine Repayment
If a debtor claims that new funds received in the creditor's account are repayments made via an ATM, and the creditor denies this but cannot provide proof, the court may uphold the debtor's claim.
03
Order of Repayment Application
If a repayment doesn't specify whether it's for principal or interest, interest should be applied first, then principal.
04
Determination of Repayment Receipt
If the information on a repayment receipt doesn't fully match the loan agreement, it's difficult to confirm that the loan has been repaid.
05
Audio Recording as Proof of Repayment
Even if a creditor holds an IOU, the court may still determine that the debt has been repaid based on audio recordings and other evidence provided by the debtor.
06
Notification of Debt Assignment
Provided the authenticity of the debt assignment can be confirmed, notification of the assignment from the assignee to the debtor establishes the legal effect of the assignment.
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