 |
|
|
 |
New Member
|
|
Oct 12, 2009, 08:10 AM
|
|
Friend loan repayment
I made car payments for a friend over a several month time with the promise of repayment. The friend has not repaid me and owes me approximately $5,000 with payments, fees and interest. What do I do now?
Thank you!
|
|
 |
Uber Member
|
|
Oct 12, 2009, 08:31 AM
|
|
You can file a claim in your local small claims court. Do you have any sort of documentation from your friend, such as a signed promissory note? That'll make it easier. But even if there's nothing in writing, you can present your case before the judge. You and your friend will give testimony and the judge will then decide whether to issue a judgment against your friend for the $5000.
|
|
 |
New Member
|
|
Oct 12, 2009, 03:22 PM
|
|
Thanks! Unfortunately NO written documentation.. said "friend" actually offered to write up written contract but I was nice enough and said.. OO that isn't necessary... HUH..
.I have a check he gave me months ago as $300 payment.. however I was asked not to cash that check yadda yadda. I have all my receipts where I made the payments for him via western union via payment on my CC. I have a few recent text messages etc where he says he will be sending me some money and is working on a repayment plan for me... uhhh OK...
My issue also is... OK so the judge awards me a judgement... that doesn't mean he actually pays me back! Right? Where does the money come from if he doesn't pay?
Is the principal now I guess!
For MONTHS, I have asked him to at least pay my CC payment, as I am not heartless and understand it is A lot of money and times are hard. I am at the end of my being nice rope now! If said person was truly a "friend" and had honest intentions of repaying the money, said "friend" would have thrown $5.00 at me weekly just to shut me up!?
Sorry... I guess I am venting my frustration here!! Lesson Learned!! Do not ever lend money expecting to get it back!!
|
|
 |
Expert
|
|
Oct 12, 2009, 06:22 PM
|
|
Well first you really can't collect interest and interest if you don't have some form of documents normally.
But you can go back to ask for something in writing and for them to start a payment plan, if they don't you file a law suit against them
|
|
 |
Uber Member
|
|
Oct 13, 2009, 06:36 AM
|
|
You can't create a contract (request interest or other fees/charges) where one did not exist.
You CAN sue for the actual money you are out of pocket.
You both go to Court and present your proof or give your story and the Judge decides.
|
|
Question Tools |
Search this Question |
|
|
Add your answer here.
Check out some similar questions!
Hardship programs for 401k loan repayment
[ 1 Answers ]
I very recently was let go from my job. I have an outstanding loan from my 401K which I used to purchase my primary residence. As I understand it, upon termination the loan must be repaid or it becomes ordinary income and is taxed accordingly. I'm not sure if I am charged a withdrawal penalty or...
Family loan repayment problems
[ 4 Answers ]
We lent a large sum of money to a family member who lives in our same town in Maryland on an oral promise that we would be repaid, but we have not been repaid. We want to put a lien on their personal residence. Maryland allows us to file a Complaint for Confessed Judgment, but there must be a...
Loan repayment
[ 1 Answers ]
I loaned a girlfriend $800.00 to make rent after a big sob story and now she doesn't want to pay the money back. All I have is a copy of the check to show for the loan.What can I do to get my money back?
Repayment of 401k loan
[ 1 Answers ]
I am in the process of leaving my job. I am 100% vested in my 401k plan. I currently have a loan on it and have been paying it back every pay period but still owe on it. If I roll over my 401k do I still owe on the loan?
Thanks in advance for the help
Loan Repayment
[ 6 Answers ]
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...
View more questions
Search
|