How do I collect on a loan thatmy ex wife will not agree to repay?
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How do I collect on a loan thatmy ex wife will not agree to repay?
Loaned ex-wife proceeds from my half from the sale of our house. She agreed to write up repayment papers or at least a sign an IOU. To date she has done nothing. How do I go about collecting?
Asked on July 28, 2011 Pennsylvania
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
The first thing to do is send her a letter with a written promissory note stating the amount loaned, the rate of interest and the payment date toyour former wife asking it to be signed and returned to you. Also included should be documents showing that the loan was actually made. Keep copies of all documents sent for future reference.
If she does not sign the promissory note in the requested time period, you have the option of deeming the loan entirely due and payable if it is not already, and bring a legal action against her in your county court house for breach of contract and common counts.
If the amount owed is substantial, you should consider consulting with an attorney to get what is owed you.
Good luck.
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