what to do to get money back legally?

Question

i lend 30 thousand dollars to one of my friends to start his business and i have a written statement saying the i lent him the money but now he wont pay me back what can i do legally to get my money back. is there a way that is easy and fast because i need my money really soon. thank you

Answer 1

Take him to small claims court -- sue him. Get a lawyer and the letter is a written agreement, so you should win!

Answer 2

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Answer 3

You have a written statement that you lent him the money, and I assume it's signed by him - does it say anything about when he would repay you? If it does, you can sue him for the money if he was already supposed to pay you back and didn't. If he doesn't have the money though, you could have a real hard time collecting.

If the statement doesn't say anything about when he was supposed to repay you, you probably don't have a legal case unless it's been so long (many years) that it's obvious he should have repaid you by then.

Answer 4

Unfortunately $30,000 is outside of the realm of small claims court for most, if not all, U.S. states. In order to get your money back you are going to have to file a civil case in your home jurisdiction.

Was there a time restriction on the statement? If so, and that time has not elapsed (even though he has stated he will not pay) you MUST wait until the time has passed before you file the initial motion for your case or the judge will have to dismiss it.

Answer 5

that was dumb first rule is to never lend money to af riend cuz it will end ur friendship and u have to either threaten a lawsuit or just sue him and bring the paper to court and he will have to pay u back no matter what

Answer 6

sue him, unless the contract specified that it would be paid back by a later date, in which case all you can do is ask nicely.