Legal Question in Civil Litigation in New Jersey
Recovering loaned money
Do I have any course of action after lending someone $3,000.00 and have not recived anything in 6 years. The only agreement that was actually mentioned was that he would figure out some kind of payment plan. If it did go to court would it just be my word against his since I have no proof that I actually lent him the money ?
2 Answers from Attorneys
Re: Recovering loaned money
You should sue immediately, given that your suit may already be barred by the statute of limitations.
However, given that you have no proof that this was a loan and not a gift, it will be difficult to prove that he owes you this money unless he admits to it. You're right, it's your word against his.
Always, always, always, put such agreements in writing.
Re: Recovering loaned money
So long as your agreement was made in NJ, or he lives in NJ or did at the time you made your loan, you should sue in Special Civil Part, Superior Court of New Jersey. If it is getting close to six years since you last got payment, or six years since you loaned the money and never got payment, then sue RIGHT NOW. The longest statute of limitations (time limit to sue) is six years. If it is longer than six years, sue anyway and maybe he will not raise that defense.