Legal Question in Credit and Debt Law in Iowa
Money loaned to a friend
What can i do to collect money from a friend? My fiance loaned money to his friend for a vehicle. His friend has paid very little on this loan. The amount exceeds small claims proceedings. We have witnesses that he would make payments. It's been almost a year and he's paid very little. What should we do?
2 Answers from Attorneys
Re: Money loaned to a friend
Have you tried a Demand Letter from an attorney?
Re: Money loaned to a friend
It depends on whether the money or the friendship is more important. Anything you do to collect, other than politely ask, will likely cause significant and possibly irreversible harm to the friendship. When you loan money to friends or family, you should look at it as a gift, and be surprised and pleased when you get it back.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
