Legal Question in Credit and Debt Law in Minnesota
I loaned a friend $8,000 and have a signed agreement for repayment. He is nearly 90 days in default and per the contract, if the loan becomes default for 90 days, payment in full is owed. I live in MN, and the 8K exceeds the limit for small claims, but I would be willing to sue for $7500, the small claims limit, if it would be wiser to pursue on my own without a lawyer. Also, he has since left the state with no forwarding address, but I may be able to locate him. Two questions, should I proceed as a small claim, or utilize a lawyer for the full sum? What would be a ballpark figure on utilizing a lawyer, and do I need to sue him where he relocated, or in the state we signed the contract. Any advice would be helpful! Thanks!
3 Answers from Attorneys
I would have to look at the note. You can probably sue him here in Minnesota, but you will have to get him personally served or in the event you cannot locate him, follow the procedure to get him served by publication. I wouldn't recommend lowering your claim to sue in conciliation court - you should be suing for the true amount you are owed.
Nathan Hansen
651-704-9600
If your agreement provides for attorneys' fees, sue in district court. If not, you can sue in small claims court. Either way, you need to "skip trace" to find the defendant.
We can help. [email protected].
If you try to sue in Concil. Court, you need to sue in County where he lives.
If you go to District Court , you can sue under MN Long Arm Statute.
I would recommend starting with a Demand Letter, for which I charge a small flat fee.
If then you need to litigate, could possibly do on %.
David Anderson www.ebizlaw.com
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