Legal Question in Civil Litigation in California

unpaid loan

loaned 6,000 to a friend in 08, she quit her job in 09 & stopped paying. I have notarized papers showing her home is colateral if the loan is not paid in full with her signature & mine. I have receipts & speedsheet reflecting past payments. I printed basic loan documents from the internet.


Asked on 6/16/09, 7:19 pm

2 Answers from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: unpaid loan

If you wanted the home to be collateral for the loan, you had to do more than just download canned forms from the internet. Sue her in small claims court and pray that 1) she hasn't sold the house yet; and 2) she still has equity in the house that you can get at. Watch out for legal time limits.

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Answered on 6/16/09, 8:01 pm
Terry A. Nelson Nelson & Lawless

Re: unpaid loan

So? Sue if you can't make her pay you voluntarily. You'd better hope you actually have a proper TD showing your interest recorded on her property, otherwise the most you've got is a debt she could discharge in BK.

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Answered on 6/16/09, 8:32 pm


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