Legal Question in Civil Litigation in California
Loan payback
What legal steps can i take to get a loan that was due and payable in one year that is now overdue by more than two years with no response from borrower
3 Answers from Attorneys
Re: Loan payback
Well, you could hire me to collect it for you. I charge a percentage of the recovery, based on the amount of the debt and its collectability.
You can make a demand yourself. You can also file a lawsuit. If the amount due is under $7,500 you can sue in small claims court -- which is easy. If the amount due is more than $7,500 I strongly recommend hiring an attorney.
You have 4 years (on an open book account or written contract) to bring suit.
Re: Loan payback
You sue, and soon; in small claims court if it is under $7500; in Superior Court for amounts over that. You hope to be able to locate the defendant. You hope they have something to collect against IF you get a judgment. If this is a substantial amount, worth hiring an attorney to do it right in Superior Court, feel free to contact me.
Re: Loan payback
You sue, and soon; in small claims court if it is under $7500; in Superior Court for amounts over that. You hope to be able to locate the defendant. You hope they have something to collect against IF you get a judgment. If this is a substantial amount, worth hiring an attorney to do it right in Superior Court, feel free to contact me.