he said he will pay it back, i got him to write an agreement just between us both, he will pay £50 for the next 7 years and if he can will pay extra, but he is moving away, what do i do if he stops paying it back? without getting it into a messy expensive court case?
2007-12-06 05:37:22 · 7 answers · asked by pinklinz@btinternet.com 2 in Politics & Government ➔ Law Enforcement & Police
If you don't want to go to court, then there would nothing you could do. Anytime you loan money to someone else, esp. someone like a family member or close friend, you should consider it a gift because the relationship will inevitably go sour if the person either doesn't or is unable to pay it back. You should never loan money to family or friends for this very reason.
2007-12-06 05:47:05 · answer #1 · answered by First Lady 7 · 1⤊ 0⤋
My opinion on the matter is that you did good by securing yourself with a written agreement. Make sure that the agreement does addresses the fact that he (his name) agree to pay back the amount borrowed for $50 dollars a month minimum, until debt is paid off. It is also good to accept money orders just so that you could keep count of the payments. If in a case that it should have to be taken to court because he failed to keep his commitment, it is always good to have proof over word of mouth, to back up your case. Hope everything works out for you.
2007-12-06 06:15:51 · answer #2 · answered by ShaRoeRoe 1 · 0⤊ 0⤋
Nothing. That's a risk you have to take when loaning people money. But if you do have to go to court, that signed piece of paper will get you a judgement and you can get a garnishment on his wages, if he still won't pay.
2007-12-06 05:42:10 · answer #3 · answered by Eisbär 7 · 1⤊ 0⤋
If he stops paying your only option will to bring him to court.Hopefully your agreement was written out good and both of you signed.
2007-12-06 05:42:57 · answer #4 · answered by Gizmo3 4 · 0⤊ 0⤋
Contact Judge Judy.com .They hear cases such as yours and even fly you and him in for the hearing. Watch it on TV on ABC at 4:00. and see if it is what you are looking for. Good Luck
2007-12-06 05:42:34 · answer #5 · answered by jean 7 · 0⤊ 0⤋
Good thing you wrote it out & had it signed.Any witnesses though? I really don't know how much of a legal binding contract that is though,may depend on the state.All I can say is good luck getting it back.Mine broke me of $50,000.00 & I'm S.O.L.
2007-12-06 06:11:11 · answer #6 · answered by Sadie 2 · 0⤊ 0⤋
why would you loan your ex money? when loaning money you always risk not getting it back.
2007-12-06 05:48:33 · answer #7 · answered by Tabby 6 · 1⤊ 0⤋