How can I get a loan repaid to me?
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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 11 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.
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