How do I go about getting someone to pay back a loan?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do I go about getting someone to pay back a loan?

About 3 years ago I loaned my at the time fiance $20,000 to help boost his business. He has made no attempt to pay me back any money. I have papers signed that this was a loan and it was to be paid back. Now he is telling me that when we were together I signed his name on his credit card (I did this with his permission and knowledge when I would get gas in his car or pick him up lunch or dinner etc.) but now he is telling me the $300 I signed for makes us even. Are these charges still valid and can I still collect my money.

Asked on August 9, 2011 Pennsylvania

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

1) If you loaned him the money pursuant to some agreement that he would repay the loan, that agreement is enforceable as per its terms--that is, he needs to repay according to whatever schedule or timeline was in the agreement.

2) The statute of limitations for enforcing a debt on a written agrement in PA (either on a contract or promissory note) appears to be 6 years. While there is no reason to delay and should contact a lawyer immediately to confirm this and bring a legal action, it appears you are within the time period to sue.

3) Even if you did improperly take $300, the most that does is give him an offset of $300--i.e., arguably, he owes you $19,700.


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