Angela: You have the right to sue the person that you loaned money to since he is in default of the repayment terms of your loan agreement. The notarized and signed contract will be sufficient proof to the Court that there existed an agreement for the repayment of monies to you. You need only show the Court that you did not receive full repayment pursuant to the terms of the loan agreement. The only defense that can be asserted is repayment, but obviously you can defeat that defense by producing copies of checks given to you in partial repayment of the loan. The mere assertion that the loan was repaid in cash, without further proof such as a signed receipt, will not be a valid defense. If no payments were made to you, there is no defense and you can sue and obtain a Judgment against the borrower which is valid for twenty years in New York State. The Judgment allows you to take money the borrower has in the bank, his car and ten percent of his salary. I hope the above was helpful and I wish you the best of luck getting your money back!

"You need only show the Court that you did not receive full repayment pursuant to the terms of the loan agreement."

That is not true. You would have to show the court the following: 1. The contract. 2. Money delivered by you in accordance with the contract (usually a canceled check or receipt). 3. Demand for return of the money. 4. Failure to make payment.

If the amount loaned is under $5,000, I would suggest that you sue in small claims court. You would have to sue in the county where the defendant resides.

Mike.