Ask Me Help Desk - Loan Repayment

Hi, I hope I can get some good advice on this site as I am a new user.
I loaned $1000.00 to a person that said he would pay me that coming Monday, that was 6 months ago. I have received $200.00 from a check that he gave and I have a copy of the check and I also have a copy of the check that I wrote out to him for a $1000.00 with loan written in the memo of the check. I have heard about 8 different times of when he will repay but nothing has been true. I have sent him 2 e-mails, the first one stating you can make payments but I have heard nothing about this. I just sent him another e-mail saying when should I be getting the rest of the loan repayed. As also I have gone to his apartment and ask when only to here, I promise I will pay you back. No reply on the last e-mail and I don't think that I will get one either. What should I do, go to Small Claims Court here in San Diego.
Can I win?
And if I can, how are the ways in-which I can get my money back?
Thank You for your answers.

Good luck, you will need it, it's your word against his but what you going to lose by going t small claims, court cost of about $30.00 or so and a day's work. For me that would be about $230.00. I would hope no one ever would see a question like this by me and recognize it was me who loaned a "friend" the money with no collateral - but heck, it's done everyday, but won't by me.

Quote:

Originally Posted by RichardBondMan

Good luck, you will need it, it's your word against his but what you going to lose by going t small claims, court cost of about $30.00 or so and a day's work. For me that would be about $230.00.

Hello stanley:

Actually, the bonddude, doesn't have a clue. He does make BIG money, though. But, I have no idea why he thinks that's important.

It's NOT your word against his. Not even close. YOU have an endorsed check with LOAN written exactly where it's supposed to be. YOU have documentation that he made PAYMENTS to you. These are EVIDENCE of a loan.

Take your documentation to court. You'll kick butt.

excon

I have to agree that Richard mistepped here. As soon as I read that you had loan written on the check, I knew you had a good case and would likely win in small claims court. But winning and collecting are two different things. You can win a judgement against him, but then YOU have to find his assets and try to garnish or attach them. You do have his checking info, but, if he's smart, that account will be closed as soon as you serve him papers.

What I would do, send him a letter (if you have an atty friend you can send it on law firm stationary) telling him that he must agree to a payment plan immediately or you will be forced to pursue legal measures to collect. If he still doesn't at least start to pay, then start the court proceedings.

I still say it's your word against his, others don't agree, here's my point, the fact that you wrote "loan" on the check may strengthen your case but not win it for you, I could write "loan" my ck or even a copy of my ck, or anything else I wanted to on it - try it though, it does somewhat strenthen your case especially if he shows, has no answer when you point out to the Judge "loan" on the ck or even honesty agrees with you on that point in court. I still think it's your word against his, present your case to the point mentioning all possible points. But I still see no mention of a written loan agreement. You might point out he has made payments, but can't the Judge just consider that a token of his good will and not a bona fide "loan" payment. As to Escons comment about how much money I make, it's irrelevant both as his comment and mine, I mentioned it only to stress that this guy's probably going to waste your valuable time, cost you money and not show up - if he does, then you still have the hurdle to collect. For $1000 minus what he has paid minus your court cost minus whatever you might lose from time off, whether it's actual money or your "valuable" time. I'm 100 % now on suing vs winning but I had a strong case, accident reports, etc. all in writing.

Quote:

Originally Posted by RichardBondMan

You might point out he has made payments, but can't the Judge just consider that a token of his good will and not a bona fide "loan" payment.

Hello again:

NO, the judge would NOT consider any payment he made to be a token of "good will". NOBODY, and I mean NOBODY, including the bonddude, makes payments on a gift - not on this planet anyway.

excon

PS> A note to the bonddude. This isn't lawschool. If you don't know, don't guess. Real peoples lives are at stake.

You have a very good case, first a verbal agreement is binding and legal for small personal loans,

You have evidence to back your story up, the check you wrote worded loan, it does not say gift. Next a check showing he did make an attempt to repair part of the debt.

While no case is 100 percent, I would put yours as a good chance, I most certainly would take them to court to get it back.