What can I do to get my money back?

[Sportster O.G.]

Hey Guys
kinda curious as to what you can do if someone owes you money. I lent $6500 dollars to someone that I thought was a good friend. He had some legal issues and said that I would have my money back with interest within a couple of months. He at the time had a good paying job too. Well its been over a year and all I get are really bad excuses. without actually ripping his head off, what can I do to recover my money. I have nothing in writing but I do have emails that state that he is going to pay me back with interest but he has not paid me back one dime yet. Plain and simple, he says he is broke.
Has this happened to someone here before? Call a lawyer?

 

[joeycrabcakes]

sue him..small claims court

 

[baja222000]

And how??.Well Canada here but should be the same .Start by sending him a registered letter asking him for payment of the money .You can give him two weeks a reasonable time to respond and to make payment and you can advice him in this letter that you will take him to court if payment is not received by the date you have set .If he does not respond and pay after your deadline you can file a writ at small claims .See if you can figure where he banks and from there it will will easy to see what funds he has .If you win your judgement you can t really get blood fron a rock as no lawyer can either ,so save your money .Maybe he has assets that you can go after but these would have to be in his name and free of all loans,Good luck .Sometimes it takes awhile to collect .If his lives in your community and lands a job and you win your judgement you can always go after his wages ........Tell him you will collect .....he will have money soon or latter .....Maybe he will not want to go to court and embarasse him self lol....and will pay up when he receives the Writ of execution

 

[Sportster O.G.]

thanks guys. I have threatened him over the phone by saying that I have a lawyer already and will be putting a lien on his name. But its not working. Maybe if I actually send him a letter it might scare him..

 

[Bob Smith]

Doesnt sound like anythign is working.

Call your local small claims court to see what the dollar value limit is on cases? Id be surprised if it was as high as $6500.

Other than small claims, Id put a lein on his car or house.

And next time, never loan money to friends or family. Its a problem, and lost friendship, waiting to happen.

 

[Neodavid]

Well, Jesus said to lend to those in need, but not expecting anything in return. Rule of thumb is if you give it out, assume it won't come back.

Doesnt sound like anythign is working.

Call your local small claims court to see what the dollar value limit is on cases? Id be surprised if it was as high as $6500.

Other than small claims, Id put a lein on his car or house.

And next time, never loan money to friends or family. Its a problem, and lost friendship, waiting to happen.

 

[Bob Smith]

Well, Jesus said to lend to those in need, but not expecting anything in return. Rule of thumb is if you give it out, assume it won't come back.

Right, its a completely different mindset. Giving money as if it were a gift is much different than giving money and expecting family/friends to pay it back. Personally, Id rather not give it out, at least not large amounts. If my brother needed a couple hundred bucks, sure, Ill send him a check. If he wants $2k, no way, Im not the 1st Federal Bank of Bob Smith. "Tell your wife to get off her ass and be productive for a change."

 

[Sportster O.G.]

I usually would not lend anyone that amount of money. But I got greedy when he said that he would pay me $500 on top of the loan after a couple of months. I would lend that type of money out again, but it would only be to family. How do you go about putting a lien on the persons house or car? Is that done through a lawyer?

 

[baja222000]

Well on a house you can only apply a lean but may have to wait years until he sells .As for assets he must own then and not have any loans .You can go after his bank account .Small claims court will explain that to you when you win your judgement .Like I said send him a registered letter asking for payment and if no money is collected take that registered letter to small claims .........man just do it u are making it to hard ..lol...