Legal Question in Credit and Debt Law in Georgia

I loaned someone $50,000.00 and we don't have a written contract only verbal. I have text messages advising this was a loan and asking for my money. He's never denied owing me the money but is still saying today when he get the money he will repay me. I have my bank statements showing when I withdrew the money and text messages of him thanking me for helping him out. Do I have a case?


Asked on 1/26/11, 12:38 pm

1 Answer from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

A case, probably (assuming the facts you provided are true), but we certainly don't know when the loan is due and you did not tell us. Whether you have any hope at collecting is another issue. Anyone who hands over $50,000 to someone else, with no written agreement or security, is accepting the risk that such loans are often never paid back.

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Answered on 1/27/11, 1:49 pm


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