Legal Question in Credit and Debt Law in Maryland
collecting debt from friend
I loaned a friend $9,000 to help pay for a car and lawyer fees. My name is on the title of the car as co-owner and I have receipts that indicate that I paid for these items/services. He had promised to make a monthly payment ntil it was paid off. He has not paid in 4 months and now my finances are suffering. Since the amount owed is greater than $2500, I cant file a suit in small claims court. What legal action can I take to get my money back?
2 Answers from Attorneys
Re: collecting debt from friend
You can sue in District Court.
Re: collecting debt from friend
You could institute suit in District Court. You could take possession of the vehicle as you are a co-owner. Or simply you could demand payment or alternatively to take possession.
Otherwise you could include an action in replevin and/or detinue in your District Court suit. If any balance is left on a bank loan, you may want to
contact the bank to enlist their assistance but you should be careful to ensure that no default occurs or other adverse credit reporting that may be reflected on your credit
record where you are a co-debtor.
Disclaimer: No legal advice is provided through this e-mail but rather information about the law in general. No attorney-client relationship has formed and no reliance should form in this regard.
When confronted with a legal matter, seeking the services of an attorney is recommended.
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