Legal Question in Civil Litigation in Missouri

Receiving payback on borrowed money

My wife helped out a friend by transferring her friends credit card debt to a new card of my wifes ($7,000). The friend has promised to pay back $250 bi-monthly and pay about $5,000 by 12-31-08. She has made a few payments, but is behind now. We are thinking we will have to make the next payment on the next scheduled card due date in order to ensure the interest rate does not jump up. I have drawn up a promissory note, but she refuses to sign anything. I have proof that she has been making payments and proof that the balances transferred were from my wife's friend. This person owes about everyone in the county and will not answer our calls or e-mails. Is this worth pursuing, since I may never get paid even if I win in court. Can the person's wages be garnished? What kind of money are we talking about when suing someone in a civil case? Thanks

Gary


Asked on 10/04/08, 12:34 am

1 Answer from Attorneys
Michael R. Nack Michael R. Nack, Attorney at Law

Re: Receiving payback on borrowed money

If the person your wife helped has (and keeps) a job, then it might be worthwhile to sue her and obtain a judgment upon which you could file a garnishment. Most attorneys will require a retainer fee to be paid up front together with the court costs. Some attorneys will agree to a modest retainer fee against a percentage of any amount actually collected. Personally, I think that it is more fair for the client for an attorney to simply be compensated for his time and service, and for the client to keep the money collected from the other side. After all it was the client's money to begin with. You may call me at the office for a free telephone consultation if you do not already have an attorney.

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Answered on 10/05/08, 10:55 pm


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