What to do if I lent out cash to a friend but now he is not calling me back?
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What to do if I lent out cash to a friend but now he is not calling me back?
The loan was short term for $200. In my situation it is a lot of money; I am disabled and the my SSDI was just recently reduced to $850 a month. My friend swore (and signed an IOU) that he would pay me back ASAP, which was 2 weeks ago. Now I am behind in my rent and the landlord is very upset.
Asked on February 25, 2012 under Bankruptcy Law, California
Answers:
Hong Shen / Roberts Law Group
Answered 12 years ago | Contributor
Since you have a signed IOU it should be easy to hold your friend liable. Send him a final notice, explaining your situation and your intent to hold him liable. Give him a time, say 30 days to return the money. If not, be prepared to sue in small claim and recove your legal fees as well. For low income people, ask the court if your filing fee can be waived.
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