How can I get a loan repaid to me?

Get Legal Help Today

 Secured with SHA-256 Encryption

How can I get a loan repaid to me?

About 13 months ago, someone borrowed $5,000 from me with an agreement, in writing, to pay back $2,300 per month for 2 months. I have yet to see one dollar of the money. I am still able to contact the borrower but all I get from him excuses. I know I am at fault for lending the money because of the risk of not getting paid but is there anything I can do from a legal standpoint?

Asked on November 25, 2012 under Bankruptcy Law, New Jersey

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

for that amount of money you should be able to go to small claims court yourself and file a claim against him for the money owed.  they will serve papers on the defednant and you will have to show the debt papers and amount due at a trial.  of course you could also hire a lawyer to help you with that processs.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption