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    Joey Joey's Avatar
    Joey Joey Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jul 28, 2009, 10:04 AM
    How do I get repaid, $1,550 IOU
    Hi, on January 20, 2009, I lent a friend $2,000 to go to Greece. He wrote a handwritten IOU, for the entire sum, stating the entire sum to be repaid within 3 months. In March he paid me $350.00 and in May $100.00. He now have a balance of $1.550. He won't answer my calls and will not enter any correspondance. Is small claims court my answer ? I live in NJ, if that is of any inportance.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Jul 28, 2009, 10:08 AM

    Hello Joey:

    Small claims court is the answer. It's quick, cheap and easy.. But, once you win a judgment, then it's up to YOU to collect it, and that may not be easy. Do you know where he banks and/or works?

    excon
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #3

    Jul 28, 2009, 10:09 AM

    Yes small claims
    Pursue it
    He may not pay it but it will make his financal status a mess.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #4

    Jul 28, 2009, 10:11 AM

    If he will not voluntarily pay the debt you must sue him in small claims. If you get a judgement collecting on it may be another matter.
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