QUESTION
Refusal to pay balance of a personal loan
Asked on Oct 12th, 2014 on Breach of Contract - Virginia
More details to this question:
I borrowed $6500 from my retirement account to provide a loan to my daughter for education. Once employed as a speech therapist in Virginia, she paid $1200 of the loan back. She now, because she is angry with me, refuses to pay the balance. I have a paper trail, but the contract for repayment was verbal. I live in Maine. The loan was made in Maine.
1 ANSWER
There doesn't seem to be a question here, but I assume you want to know if you can sue her for the balance. The answer is yes, However, because you have no documentation, it may be your word against hers. For example, if she claims that you forgave the balance of the loan, or only loaned her $1200 in the first place, or that she paid the remainder of the loan through doing work for you, etc., etc., it is possible that the Court will believe her.
Answered on Oct 13th, 2014 at 2:00 PM