QUESTION
How can I sue for interest on unpaid loan if it is not specified in our original verbal agreement?
Asked on Sep 19th, 2017 on Civil Litigation - California
More details to this question:
I loaned someone money that he hasn't paid back. It's been over two years now and I've lost much money in interest just by not having the money I loaned in my savings account. Payment of interest wasn't agreed upon in our original contract (via texts), but is there any way at all that I can sue him for the amount owed plus the interest that I'm losing by him withholding my money?
1 ANSWER
You can't get interest on the loan per se, but the court may award interest (at a statutorily set rate) from the date of the breach.
Answered on Sep 19th, 2017 at 12:12 PM