QUESTION
If someone breaks a loan agreement can you sue them for more money than the agreement?
Asked on Jun 17th, 2013 on Civil Litigation - New Jersey
More details to this question:
I have a loan agreement with a friend. He failed to pay me back by scheduled date and has put me in a financial hole. Can I sue him for the money he owes me plus the extra money he's costing me for every week that he doesn't pay me back? Also, do I need to have a lawyer handle this dispute?
1 ANSWER
2 Awards
It depends on the terms of the loan agreement. If the agreement requires payment of interest or penalties for failure to make timely payments, then yes, you can certainly seek to enforce the agreement and get those fees.
Answered on Jun 17th, 2013 at 3:43 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship