Not honoring loan agreement

Mr Nel approached me on 27/2/15 for loan of R10 000 to be repaid together with interest within 48 hours (2/3/15) as he had deadline on telecommunications deal and friend that committed to invest not available before deadline expired. Repayment to be effected on 2/3/15 when friend back from weekend trip. Loan agreement did not entail repayment once Mr Nel has funds, but repayment on 2/3/15. Mr Nel was handed over to attorney for collections due to nonpayment. Numerous promises were made by Mr Nel to myself and attorney for repayment to be effected which did not realize and excuses were offered. According to Mr Nel offs**** investment was activated, transaction was transferred to friend, supplier took over transaction, transaction transferred to new investor, bank overdraft refused, loan from family refused to name a few promises and reasons for nonpayment. Mr Nel now avoids contact with me. I am therefore not kept informed on progress with repayment. Due to cost implication for Mr. Nel issuing of summons were placed on hold. Notification of intent to register complaint on Hello Peter was send to Mr Nel taken into consideration the reputational risk to his company.