Legal Question in Credit and Debt Law in Massachusetts
How can I report non-payment of a personal loan?
I lent my cousin $200 and he signed a piece of paper saying he would pay me back on April 4th, 2014. However, he has not done so and is spending a ton of money in Las Vegas, so clearly he has the means to do it but refuses to. What is the most simple, seamless, fastest way to use the power of the law to get him to pay me back? (I already threatened to report him but he does not care.)
2 Answers from Attorneys
no. usually you need to be a corporation with access to such.
I cannot even do it.
Sue him.
You should send him a simple written demand for the funds and give him a reasonable amount of time to tender payment. When he doesn't, file suit in small claims. If your agreement calls for interest or penalties for non-payment, include them. Good luck!