Legal Question in Civil Litigation in California
I'v been informed that I should take my case to small claims and sue for up tp $7500. I'm owed more than $12,000.00 before fees and penalties which have been accruing for more than one year now. Is there another way of recovering more money? This is regards to a verbal contract that I entered into with a friend. The agreement was that I would cover the down payments and taxes and he would pay me back. He tried to obtain a personal loan and a consolidation loan and failed. The home we purchased was lost in foreclosure. I have canceled checks from him for his half of the monthly mortgage. Itt also states mortgage on the notes section of the check.
2 Answers from Attorneys
I get it. My fee for recovering your $12,000 will be $4,500, payable up front. Or you can go to small claims court yourself for $7,500. You might win nothing, since you, very foolishly, didn't get anything in writing. Google
What does your friend have in the way of assets? If he has nothing, all you will get is a judgment good for ten years that can be renewed each ten years, but you will have to both find him and find out if he has any assets you can go against. He will break off all contact with you to avoid paying you back.
Your facts you cite seem to be inaccurate. What property were you buying that $12,000 could cover both the down payment and all taxes? If he could not get a loan, how could the property go into foreclosure, as that requires the non-payment of a loan? There must have been a loan because mortgage payments were made, but he made only half of them, but you state you were only paying the down payment and the taxes. So the situation is confused.
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