lien ,uncredited loan ,i loaned my brother 10,000 and had him sign a agrement?

Question

Hi

I loaned my brother over 10,000.00 in california ,had him sign a loan agreement with interest. Its been 2.5 yrs and not one payment .Can i put a lien on his property even though the loan contract dosn't state payment due by a certain date. Since its over the 5,000 small claims court price ,i'd have to go to a higher court (which one? ) . Do i need to go to court to apply for a lien for a unpaid loan . Again ,loan is at 7% interest but dosn't say when it has to be paid.

Thanks

Answer 1

If the loan doesn't have repayment terms he isn't late. Ask him to start paying. You may never get any money from him since you have no payment agreement or collateral.

Answer 2

Have you talked to him about this, you must of have some cash laying around to loan him this. Have him do work for you, clean, detail the car ect. I borrowed my brother 2k once he was in trouble, i was very difficult to get it back initially. I sat and talked to him and asked him when i would be getting my money back. He told me he was unemployed at the time BUT he did offer what can if do for you to make this up. well he is an electrical and i need my basement to be finished. He offered to finish the pluming, electrical and painted/carpet this was like 4k in labor. he did it and i tried to give him 2k for the difference but he refused it. He enjoyed his 2 weeks being with me and told me there is no price with being with family. I WOULD OWE HIM MONEY IF I HAD IT ANYTIME AGAIN. please talk to him and don't let it get to court.

Answer 3

Never let money break up a family. If you can afford to let the $10,000 go, just let it go. The relationship with your brother is worth more than 10K. By the way, in the future, don't lend anyone more money than you would expect not to get back.

Answer 4

I wouldn't even loan my family 50 dollars! What in your right mind makes you want to loan your brother 10,000??? You should take him to court.