How to recover a personal loan?

UPDATED: Nov 13, 2011

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How to recover a personal loan?

I had made a $1000 payment for someone using my credit card and was expected to be paid back. The debtor paid a small part, stalled and made a lot of verbal promises – none of which were kept. Finally, we spoke and set up a payment plan for which I received post-dated checks dated 15 days apart until next month. The first of these checks was presented to the bank on the date written on the check. The bank refused to honor the check. On contacting the debtor by phone, he threatened to cancel the rest of the checks. I have 1 worthless check and a few more potential bad checks. How do I proceed?

Asked on November 13, 2011 under Bankruptcy Law, Texas


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If the debtor has presented you with a bad check and a few more potential bad checks it seems that the debtor has no intent on paying you the money owed.

I would write the person who owes you the money a demand to be paid in full by a set date and if not, your recourse is to file a small claims court action. Good luck.

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 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.

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