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I lent a couple$15,000.00 for a 3 month period, it is now 5 years later, they have paid me back less than $2000. Now what?

Buffalo, NY |

I have a written agreement,i don't have a judgement, now what?

Attorney Answers 6

Posted

Hire an attorney and sue them.

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Posted

Let's see...you have an agreement with someone, that someone owes you money, and they haven't paid. Luckily we have a civil way to deal with this...it is called court.

Sue them, they have breached the agreement...what else were you hoping to learn here?...but you will want to check with an attorney to make sure you are within the statute of limitations to do so.

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Posted

Sue. The statute of limitations is 6 years. Don't miss it.

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Posted

As my colleagues have aptly pointed out, you must bring a lawsuit with some haste because the statute of limitations will soon run. After the SOL has run, you will lose your right to repayment (you can make an argument that the SOL began to run when the last payment was made to you, and it will likely be successful).

Even if you do not believe that the couple has the money to repay the entire amount right now, there are judgment enforcement mechanisms that you can utilize to recover your money. Speak with an attorney as soon as possible. Many area attorneys, including myself, offer free consultations. Good luck.

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Posted

Don't delay. Hire a lawyer to start a lawsuit ASAP! Tghe statute of limitations is running on the note. If it runs out you will lose your right to sue.

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Posted

You might also talk to a CPA about claiming a loss on your taxes if you cannot collect.

My response is general information not intended as legal advice or to create an attorney-client relationship. Seek advice from a qualified attorney to see how the law fits your specific facts. I am licensed to practice law in Washington and Oregon.

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