Legal Question in Credit and Debt Law in Texas

Here is my situation:

Over the course of several months (almost a year), I was lending money to a friend of mine whom I had known for several years. He promised to pay me back and pay all fees and interest charges associated with the money I had let him borrow. Unfortunately I had let it get out of hand and the amount he owes is around $25000. I did not get any collateral or have him sign a contract (he borrowed in small increments). He was in constant contact with me up until just recently, and now I have no way of reaching him. I figure I have a few options:

I am screwed out of my money

I can hire someone to find him and sue him (if viable)

I report him to the police

Would I have a case if it came to it? what are my options?

Thank you.


Asked on 9/15/09, 8:30 am

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

The police won't help you with this. No crime was committed.

You can sue this man, but you'll have to find him first (it wouldn't make sense to sue him and serve him by publication). After he's served, you may be surprised to find that he doesn't dispute the amount, and doesn't deny that he owes you the money. Then you get a judgment against him, and you proceed to collect the judgment (you'll probably have a payout agreement with your defendant).

There are any number of very good online services that can find people for you, usually at very little cost.

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Answered on 9/22/09, 12:08 pm


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