Legal Question in Credit and Debt Law in California
Collection on Personal loan to an ex friend in different state
I used to live in CO. and I lent an ex friend of mine 1000.+ in cash. That was five+ yrs ago. I have emailed (saved the emails) req. he pay me the loan back. He replied saying yes, then replied saying he couldn't at the time, and now he is playing games via email.
I think 1K is not a small amount to not return the monies I lent to him in his time of need and feel 5 yrs is plenty of time to repay the loan.
I don't really know what the basic law is about collecting funds from another state when I live in CA and he is in CO.
I don't want to spend the extra money on this because even tho' 1K is not a small amount not to request back from a unpaid loan, it isn't enough for me to take him to small claims court.
What do you advise I do?
2 Answers from Attorneys
Re: Collection on Personal loan to an ex friend in different state
If CA law applied, you'd be out of luck, because the statute of limitation is 4 years. I don't know what it is in CO. You might send him a certified, return receipt letter demanding payment. Once he makes some payment, the clock starts running again.
Re: Collection on Personal loan to an ex friend in different state
If you aren't willing to sue, there isn't much you can do besides continuing to ask for payment or turning it over to a collection agency. If you lent the money in Colorado and the person lives in Colorado, chances are the California courts would not exercise jurisdiction.
As another attorney observed, you would be outside the statute of limitations if this was a debt incurred in California. You might consider paying a Colorado attorney to send a demand letter for you.
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