Legal Question in Credit and Debt Law in Illinois

Debt collection matter.

Dear To Whom It May Concern:

In January 1997 I loaned $ 11,000.00 to my friends (husband and wife) and our agreement was that money would be paid back with interest. During the next 2 years I loaned them more money under the same terms. Some of the principal amount was paid back.

In December of 2000 husband filed for Chapter 7 Bankruptcy and was discharged in November of 2003(his wife wasn�t included). My loan and I wasn�t included in a list of unsecured creditors. All of those transactions took place in Illinois and in 2004 they moved to Florida.

The last payment from them I received in February of 2007 in the amount of $ 6,000.00.

For the past 4 years they live in a condominium paid for and deed to by the Trust, established by his father. The trust also pays for the family living expenses.

They opened a small business for the income tax purposes and don�t legally work other than for cash payments.

I would like to know if there�s any way for me to get my money back (the total amount due now is about $ 35,000.00 including interest) and would appreciate help in this matter very much.

Thank you.


Asked on 4/25/08, 2:19 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: Debt collection matter.

Sure, it's possible. You would need to find a Florida attorney willing to sue them. I'm sure you're aware that you may be removed from their Christmas card list if you sue them. That's the thing with loaning money to friends and family--collecting can be "problematic."

Read more
Answered on 4/25/08, 5:19 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Illinois