Legal Question in Civil Litigation in Missouri

I have loaned over $25,000 to a friend over the last 20 years. One thousand here, three thousand there, etc. I would like to know what kind of document is needed to protect me in the event my friend decides to not pay me back when they come into a large sum of money. I had thought that a letter signed by my friend and notarized by a notary public stating the amount owed and something stating that in the event of windfall profit, inheritance, etc. that the debt will be repaid. Will this be enough if I have to take this to court?


Asked on 7/31/13, 3:02 pm

1 Answer from Attorneys
Anthony Smith LawSmith

Obviously, a formal nite would be best. But, s signed and notarized letter admitting the loans were made, and a promise tutti repay might work. It won't work forever though. You have only five years to sue, if there is no signed writing. You can have up to ten years with such a writing. You might hue an attorney to draft the writing for you.

Good luck

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Answered on 7/31/13, 5:19 pm


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