I gave my friend money in November and I still havent been repaid. They have been ducking me for 2 months now. I have a witness and a few messages from myspace telling me they would give it back.
2007-05-11 05:10:50 · 5 answers · asked by skahappens 2 in Politics & Government ➔ Law & Ethics
The courts can and will enforce loan agreements. Most personal loans are small enough to be enforced in your state's small claims court (typical limits are between $5,000 and $15,000, depending on the jurisdiction). You can recover for the amount of the loan and the court filing costs, and any other costs that go into proving your case. Also, once you get a judgment in your favor, you can collect interest on the money until he pays you back.
The hardest part is typically proving that the loan occurred. Based on the information that you have given, it sounds like you have a good shot at proving your case. I would first let him know that, if he doesn't pay you back, you'll take him to court---in other words, give him a chance to pay you back before dragging the matter through the courts. If he doesn't comply, go ahead and file for recovery. I hope this helps.
2007-05-11 05:25:11 · answer #1 · answered by Brian 3 · 0⤊ 0⤋
I worked with a fellow that I loaned $500 to and was having trouble getting it back as he agreed. We had an agreement signed but he did not hold up his end, the IRS was after him.
I asked him for his address where he was living, The IRS took his house, he asked why I needed it and I told him I was taking him to small claims court and had to know where to serve the summons. He paid as agreed. In the state of FL the person you are suing pays the cost of everything plus what they owe.
2007-05-11 12:24:32 · answer #2 · answered by John P 6 · 1⤊ 0⤋
Depends on the amount you loaned. If it was $500 or less, it could cost you more in court proceedings. Never loan money to friends or family....you will never get it back.
2007-05-11 12:21:13 · answer #3 · answered by lesmodee 2 · 2⤊ 1⤋
if its less than $1000 its a small clams court case BUT even if you win doesn`t mean they will pay you back only thing you can do after that is put leans on anything they may have but a lean only lasts for one year
2007-05-11 12:42:29 · answer #4 · answered by michelle 5 · 0⤊ 1⤋
just tell your friend
that you really needed
just tell them the truth
if you want it back that's easy...
2007-05-11 12:15:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋