Legal Question in Civil Litigation in California
Loan between so-called friends
loaned 5,600,00 to friends in mardh 2006. they signed a contract and have not held up their end of the bargain at all. they have taken 3 years to bring the balance to 2,900.00 what can i do?
2 Answers from Attorneys
Re: Loan between so-called friends
Your remedy is to send a demand letter, certified return receipt. If, by the date you provide, the friend does not bring the account current, you would file a small claims lawsuit for the remainder plus interest. It probably should be filed in the court that covers the county in which your friend lives.
Re: Loan between so-called friends
What are the terms of the agreement? Is there anything about non-payment? Was there a time limit set for final payment, or was there a payment schedule?
Depanding on the terms of the agreement, you may need to file a lawsuit in small claims for the remaining balance.
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