About 10 years ago, my foster sister desperately needed a car. I loaned her $3200. She eventually repaid me $500. Since then, there have been several more "loans" she has forgotten, or simply left unpaid. I've really had enough of being her ATM machine, and would like to reclaim the only loan of which I have any proof - namely, the remaining $2700 for the car.
Is there a statute of limitations on personal loans? The evidence I have is a note written in her hand stating she owed $3200, paid $500, and has a remaining debt of $2700. Each of us has signed it. Is this adequate? Could I also sue her for the court costs?
Additionally, how can I start the case? We don't live in the same area, so I don't know to which district I should go. Have I obligations to her other than adequate notification (cert. letter?)
Please don't suggest I let bygones be bygones. Our relationship has been terminated, and the only loss I regret is that of my time and money.
Thank you for your assistance.
2007-08-07 12:07:27 · 5 answers · asked by Medusa 4 in Business & Finance ➔ Personal Finance
Well, sorry, kids, but Landlord is correct. The statute of limitations varies from state to state for written contracts, verbal agreements, property damage and so on. It's 6 years in my state.
Dammit.
2007-08-07 12:34:04 · update #1
Although it is 15 years for a written contract in Kentucky, and 10 years in several other states. There. We've all learned something.
Thanks, everyone.
2007-08-07 12:35:35 · update #2
The SOL has expired, no matter what state you are in. You needed to file suit at least 3 years ago.
2007-08-07 12:17:05 · answer #1 · answered by Landlord 7 · 2⤊ 1⤋
Wow, that's a lot of money to lose, even to a family member.
You could possibly have a case for court, it really all depends on the judge whether or not that piece of paper is adequate proof that there is still money owing. It would be better for you if you had kept monthly track, like a bank would, of payments or lack thereof, but that paper should still be enough.
I'm not sure how to go about filing the charges, you might have to go to the court where she lives. You might be able to file where you are though, you should probably call a lawyer and ask for some quick free advice. OR, you could always go online and file at Judge Judy or People's Court or something.
2007-08-07 19:17:30 · answer #2 · answered by Lady Raven 4 · 0⤊ 0⤋
It's past the statue of limitations (SOL) but SOL is an affirmative defense used in court. If you sue your foster sister in small claims and she doesn't bring up the SOL as her defense, you might get your judgment. Hey if she doesn't show up in court, you'll get a default judgment.
Of course collecting on that judgment won't be that easy. You could wast a whole lot of time and some more money.
When she comes looking for money in the future, just say NO!
2007-08-07 20:04:09 · answer #3 · answered by bdancer222 7 · 1⤊ 0⤋
file a lawsuit at your local courthouse for the maximum amount allowed. make her come to you. if she shows, show the judge your proof. if she doesnt' show then there will be a judgement against her. once you have a judgement against her she is obligated to pay. if she doesn't pay then you will have to see what you can do to have her wages garnished for the remaining funds. good luck and i'm sorry to hear about the break.
2007-08-07 19:14:11 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You could have a chance but not if you go to Judge Judy!
2007-08-07 19:23:46 · answer #5 · answered by CupCake 5 · 0⤊ 1⤋