Legal Question in Credit and Debt Law in Florida
In 2006 my nephew asked to borrow money from my mother and I WITH A SIGNED PROMISE TO PAY BACK THE MONEY.Its 2010 and he has not payed us nothing.He threatened to file bankruptcy if we try anything.He ripped us off knowing he could not pay us back even as he promised he would.What can I do to recover the money he asked to borrow and promised to pay back?
2 Answers from Attorneys
You will have to sue him and do it immediately if it was an oral agreement, since the time to file is 4 years on oral agreements, 5 on written. Want to know the law without going to law school? Protect yourself against ripoffs? Sign up for a free legal newsletter on various areas of consumer law by going to www.ConsumerLawyerHelp.com.
Depending on the amount, sue him in Small Claims if under $15k or County Civil if over $15K. Do it now before he files bankruptcy and you will be able to get a valid lien against him and then go after any assets he has before a bankruptcy takes hold.
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