If I lent my oldest neice $1500 that has not been repaid, what can I do?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I lent my oldest neice $1500 that has not been repaid, what can I do?
It was 18 months ago and was to be repaid at $100 a month minimum, with no interest if paid on schedule. So far she has made 3 payments for a total of $500. Do I have a recourse to collect the balance. My sister, her mother died last year so I have not been pushy. She told me 2 months ago that she got a raise and would pay me but she has never sent me a dime.
Asked on March 26, 2012 under Bankruptcy Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
A loan agreement (including an oral loan agreement; i.e. one not in writing) is enforceable. If your neice has not repaid you as per the agreement , you could sue her for breaching or violating it--since she has breached it, you could seek repayment of the entire remaining principal balance. One option would be to sue in small claims court, where you could act as your own attorney (saving on legal fees). You would need to prove that the money was a loan (not a gift), how much was loaned, and the terms of the loan by a "preponderance of the evidence" (that is, that it's "more likely than not" that things are as you describe). You should be able to get sample forms and instructions from your court, either in person or online.
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.