Legal Question in Civil Litigation in California
Non repayment of personal loans
How would I file a claim seeking repayment of a personal loan? It was a verbal agreement and I did not state a pay off date. The understanding was that I would be repaid when my friend had the money even if it was a little at a time. Would my bank statements showing that I made payments on his accounts be sufficient proof of loan?
3 Answers from Attorneys
Re: Non repayment of personal loans
If it is under $7500, take it to small claims court with all your proof, whatever you have, including written demands for payment. If it is over that amount, you need to talk to an attorney and try to work out a retainer agreement that makes since for both you. IF there is solid proof of loan, an attorney MAY be willing to do it on a contingency, or partial. Otherwise you may face having to pay hourly or some agreed flat rate. Contact me if interested in doing this right.
Re: Non repayment of personal loans
It may be possible to enforce the repayment of the loan, even without a writing; but there may be problems of proof. Feel free to give me a call if you want to discuss this.
Re: Non repayment of personal loans
I would suggest you send your friend a certified, return receipt letter specifying the repayment plan you want. Keep a copy. Set an early date. There may be problems depending on when the last payment (if any) was, or when the agreement was made. The statute of limitation might bar a claim depending on this timing.