QUESTION
best way to going about suing a friend that i have loaned over $14,000?
Asked on Jun 02nd, 2014 on Civil Litigation - California
More details to this question:
i have loaned a friend $14,000 over the past year. i have a written notarized contract stating that she would start paying me back in march 2014. She has not payed me back anything. I have tried to call and txt her but she does not answer or respond. What should i do.
1 ANSWER
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Fortunately you have a signed written agreement, which will be strong evidence that your friend borrowed the money and agreed to pay you back.
At this point, your friend is in default on under the contract; and since she is non responsive to your requests for payment, your best course of action is to send her a demand letter giving her a reasonable time to respond with full payment. If she fails to respond, then you should promptly file a breach of contract action against her.
Since you have a written agreement, you have four years from the breach to file your lawsuit, but i would not hesitate; nothing good comes from procrastination.
Mitch Abdallah (916) 446-1974
Answered on Jun 02nd, 2014 at 5:58 PM