Legal Question in Credit and Debt Law in California
Non Payment of money transferred from abroad
I dealt with this person (Also in California) who transfers money from India to US. I delivered money to him in India and he gave me some dollars here but still owes me over $8,000. Despite my repeated requests / threats etc. he has not paid up since sep 2001.
I had him sign an agreement stating that he owes me the said amount and will pay every month at least $1500 with interest @6% per annum. this was signed in jan / feb of 2002.
He paid me just the interest for one month or so and thereafter I haven't seen a penny of my money.
He told me that he will give me the money but he is having financial trouble. He said he even got a repossesion notice on his house. He suggested that if I sued him he would just go and tell the court what he has told me (that he doesn't have the money) and no other good will come out of it and I will end up spending more money.
Do I have any recource?
1 Answer from Attorneys
Re: Non Payment of money transferred from abroad
You should sue him so at least you can get a judgment. If you file in Superior Limited Court, you can obtain the full amount, plus interest. You can also file in Small Claims Court but the limit is $5,000. Please contact me if you have any questions and/or fax me the agreement.
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