Legal Question in Credit and Debt Law in California
In November 2009, I loaned a friend $500 to be paid back on December 10th. I also had him sign a Promissary Note. To date, he still has not paid me back and ignores my text and calls. What can I do and how do I go about retrieving my money back.
2 Answers from Attorneys
You need to send him a letter requesting that he repay the loan. If he does not (give him a specific deadline for repayment - five days, a week - whatever you decide is reasonable), then file a small claims action to recover the money.
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Simple write him a letter giving him a deadline to pay or else you will sue him and do it if he doesn't pay by the deadline. Then cross him off your Christmas card list because obviously he isn't your friend if he won't pay you back or return your calls. Use small claims court as you won�t need a lawyer and remember you can get your costs of suit back if you win.
Good luck
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