Legal Question in Credit and Debt Law in Indiana

Re: personal loans

Even without a written document, you have the right to sue this person for your money back. You may even seek interest on the amount due. You must in your complaint identify the date the loan was made, the amount loaned and the oral repayment terms (especially if there was a definite time of repayment). Depending upon the county you reside in, the county where the borrower resides, or the county where the loan was made, you may be able to sue in a small claims court (or the small claims division of the Circuit or Superior Court). You will not be entitled to request attorney fees for recovery of your money. The borrower has the right to present his defenses at trial. Your borrower might, for example, claim that the money was a gift rather than a loan. If other persons were present at the time of the loan, you might want them to come to court as witnesses.