Legal Question in Legal Ethics in California
debt collection law
I secured a loan for a friend for 25000 dollars. We had a verbal agreement that he would pay off the loan. He has failed to pay.
2 Answers from Attorneys
Re: debt collection law
A letter from an attorney sometimes does the trick, and also accomplishes a number of other things, and may be worth investing in. If it doesnt work, then you can sue.
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Re: debt collection law
You can file a lawsuit against your soon-to-be ex-friend. However, he might file for bankruptcy protection and discharge the debt to you. So tread carefully.
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