Legal Question in Civil Litigation in Texas
Loan Turned Ugly
We loaned a couple (our best friends) $1,000 cash last year when our husbands deployed to Iraq. They have since filed for divorce and both claim that they cannot pay us back, even small payments like $20 a month. Not a penny has been paid back. Neither are denying we loaned them the money but I have no paperwork supporting this. What steps do I take from here? What kind of document/agreement should I have them sign? Is there even anything I can do?
2 Answers from Attorneys
Re: Loan Turned Ugly
About the only thing you can do is sue them (both husband and wife) in Small Claims. If the loan was other than cash, there's a paper trail.
Re: Loan Turned Ugly
Small claims court may be an option. Never loan anyone money unless you are ready to give it to them or they sign a note and ideally give you a mortgage.
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