Legal Question in Credit and Debt Law in New York

Failure to Honor a written, witnessed Loan Payment Agreement

Ilent a friend $1,600.00 to help him put on a show. We both signed a witnessed loan agreement that my money would be paid back on the night of the closing of the show,(12/20/2000). I was to be first priority in getting paid. On the night of the show I was given $510.00 and I have not recieved any monies since then. I have spoken with him atleast three times a week since 12/20/2000 and I always get the run around. He is in the process of doing another show on 2/22/2001 but he has not tried to make arrangements with me concerning the payment of my money($1090.00).What legal recourse can I take and what is the procedure in taking these steps?

His actions has caused me a great financial hardship because I have an extremely limited income and I'm behind in my own legal obligations( rent, utilities,etc.)

Thank you in advance for your help and consideration in this matter.


Asked on 2/01/01, 11:23 am

2 Answers from Attorneys
Kenneth J. Ashman Ashman Law Offices, LLC

Re: Failure to Honor a written, witnessed Loan Payment Agreement

Sounds like you have a breach of contract claim against your (former) friend. I agree w/Mr. Markowitz, in that you should pursue the action in small claims court.

Good luck

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Answered on 3/21/01, 11:41 pm
Michael Markowitz Michael A. Markowitz, PC

Re: Failure to Honor a written, witnessed Loan Payment Agreement

I suggest you bring a small claims action. Information on how to commence the action, cost and procedures may be obtained from your local bar association.

Mike.

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Answered on 3/16/01, 8:35 am


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