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That is why I take the money upfront before letting someone use my credit card 🙂

If that person is still in the company, keep HR in the loop until they have returned, try to push them for regular daily payments atleast

If you've HR on your side, they can garnish his wages. If the family is serious about returning the money, you can suggest gold loan or mortgage property. You can even threaten to blast his LinkedIn.

Surprised to see such things from employees of reputed companies.

What sum of money are we talking about?

do it or forget it

You did a mistake. Therefore, you have to pay the price.

You already realised your mistake. Either that colleague is in deep financial trouble or you have to forget that money.

How much?

You are learning the facts of life the hardway and at a cost. Do not forget these lessons n repeat such mistakes. Forget n Move on. Be careful from now on.

Easier to advise but I always look at the nature of the person in terms of how he pays his debts before giving him money. You will find such person everywhere, no matter how rich they are, whether its 100 Rs or 10Lakhs, they are just lenient when it comes to debt repayment. Never loan your money to such guys.

@cardio_guy
Amount ? ?

@456
Amount DOES NOT MATTER.
Even if it only Rs 10/-, he must return it, as agreed n promised.

But one won't approach the HR & his family members for Rs. 10. So, I & many alike, are curious about the amount to know how grave his situation is.

Irrespective of amount, the HR isn't liable for this. In fact, many companies advice "never lend money to colleagues " during training/ on boarding.

If u have proof of the transaction and the amount is too big then u can just file a police complaint (not FIR but just informal warning). Only then the person will return the money out of fear of police. But again this is the most extreme step. Use it only if u r fine with jeopardising ur relationship with that friend forever. Or else just take it as an expensive lesson and move on.

Going with police complaint or other legal ways are of no use. This is in Bangalore. So especially they are known to be corrupt and there is least chance of getting it back that way.
Im trying to talk to his family. They are analyzing the situation and have promised to get back in 1-2 days with a repayment plan. There is no other way than trusting them for now.
Lesson learnt hard way.