Legal Question in Civil Litigation in Pennsylvania

Money given

2 years ago I loaded someone $20,000. It was understood that when he started his stock venture, I would be paid back. 2 years later, no money. Is there any way I can get my money back? What, if anything can be done legally?


Asked on 7/24/03, 6:53 am

3 Answers from Attorneys

Scott Diamond DIAMONDLAWYER

Re: Money given

file a law suit against him. You can do this on your own, or hire an attny.

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Answered on 7/28/03, 11:39 am
William Marvin Cohen, Placitella & Roth, P.C.

Re: Money given

There's a really simple answer: what you can do legally is sue for the repayment of the loan. 20G is over the limit for small claims in PA, so you need to sue in Common Pleas Court.

From the fact that you asked these questions, I would not suggest you try to figure out how to do it yourself. You need to hire a lawyer, who will ask questions necessary to figure out the most effective strategy, questions like:

Do you have a written loan agreement that states when the loan was due?

Did you specify an interest rate?

Did you make any demands for payment?

Has the debtor made any promises to pay?

Can you prove it was a loan rather than a gift or investment?

Did you get any security or personal guarantees?

Does the debtor have any assets?

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Answered on 7/24/03, 9:12 am
Gerald Hershenson Law Office of Gerald M. Hershenson

Re: Money given

Unfortunately, you must file a law suit. You should have some documentation to substantiate your claim. The nature of the claim may have some time limitations and you must act quickly to protect your rights. The claim must be reviewed by an attorney and a legal action must be instituted. Some attorneys may take this matter on a contingent fee basis and others on an hourly basis. If I can be of any assistence, let me know. Gerald M. Hershenson Esq. 215-579-9390

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Answered on 7/24/03, 9:22 am


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