Legal Question in Credit and Debt Law in Massachusetts

Re: collecting a verbal loan from a friend

I've seen a verbal agreement hold up in court, yes; it CAN happen. But the odds are theoretically against you; if it were a "he said / she said" situation (in other words, two people contradicting one another), and the judge or jury thought the odds were 50/50 as to who was telling the truth, then you probably would lose because you have the burden of proof. In theory, you have only to establish that it is more likely true than not (say, 51% / 49%) but practically speaking it works against you a little.

There are a few other legal wrinkles. How long was the agreed upon pay-back period?

Why do you say there is nothing written ... there must be in your records or his/hers some evidence of money going out or money coming back to you or something purchased with the money, isn't there?

Last question: are you sure that the person will now even deny the debt? Are you still able to speak with this person? Do you think that with some guidance from an attorney you could do some post-mortem evidence collection, i.e., get him to admit or not deny the debt? It might not be too late to establish SOME evidence. There are collection attorneys that can help you with this. Call me if you're near Boston or Newton, or else call a local attorney on the phone. (617)527-0050