Legal Question in Credit and Debt Law in Iowa

Personal loan not being repaid

I gave my son's girlfriend a personal loan of $1000 with a verbal agreement that she would repay me $100 a month on the third week of each month. I only have received one check from her. Should I try to recoup this money in small claims court or am I out of luck since it was a verbal agreement?


Asked on 10/03/06, 1:36 am

2 Answers from Attorneys
H.M. Torrey The Law Offices of H.M. Torrey

Re: Personal loan not being repaid

Verbal agreements are enforceable under certain circumstances, but obviously alot more difficult to prove in court without clear and convincing evidence showing that the alleged loan was not actually a gift per se. We may be able to help you write a very effective complaint for small claims court that strongly supports your evidence proving a loan existed rather than a gift. If you would like prompt, affordable legal assistance in this matter, contact us directly for a free phone consultation.

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Answered on 10/03/06, 2:57 am
David Anderson Anderson Business Law LLC

Re: Personal loan not being repaid

You can definitely sue in Small Claims court, and use the payment as evidence of the agreement. A written IOU is always preferred. ( YOu could even send her a letter demanding continued payment and thanking her for 1st payment. Better than nothing.)

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Answered on 10/03/06, 7:16 am


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