Legal Question in Credit and Debt Law in California

Loan Defaulted

Shortly after both our Spouse's died in 1997, I loaned a friend money to buy a boat. She made payments on the boat which I bought through one of my credit cards, with the promise to pay it back in six months. She coninued to make payments until March of 2001, which I have numerous emails that were sent back and forth between us describing my asking for payments and her sending payments.

She wrote me a letter in 2001 that she was declaring Bankruptcy and had sold the boat of which I still have the original pink slip. I kept contact monthly with her Attorney since I was to be listed on her bankruptcy which I have copies of all those email correspondance as well. In January of 2003 her Attorney emailed me that he is no longer her Attorney, and that she failed to provide proper documents for the completion of her bankruptcy. I have continued to make the payments on the loan while all this has been going on, but still have a balance of over $8000.00, he Attorney has refused to put me in touch with her. She sold her home, remarried and moved somewhere in the San Luis Obispo area.

How do I stand legally and what options do I have?


Asked on 1/15/03, 12:05 pm

1 Answer from Attorneys
Chris Johnson Christopher B. Johnson, Attorney at Law

Re: Loan Defaulted

You'll have to sue her for the balance, and if the contract was not written, sue her right away--the statute of limitations may be two years from the time she missed her payments. There may also be fraud/conversion issues if she transferred the boat illegally, but your main concern would be getting a judgment against her.

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Answered on 1/16/03, 11:58 am


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