Legal Question in Credit and Debt Law in New York
visitor from New York lends Seattle friend money- Two years later and no money
I lent someone$7500 where a legal agreement was drawn where the party who I lent the money to was suppose to pay back within 6 months.
I received a total of 2600 dollars back in the 20 months that have passed.
The party has not contacted me in 5 months.
Would like to receive my money plus any costs incurred in getting my monies back.
1 Answer from Attorneys
Re: visitor from New York lends Seattle friend money- Two years later and no mon
You must weigh the costs involved in obtaining a judgment against the costs of enforcing same, since the party is out of state. I suggest that since you are owed approx. $4,900 out of the original debt, that you bring an action in small claims court, where the most you can recover is $3,000.and where the costs are minimal, rather than going for the full amount in a superior court. If you get a judgment and you can determine the debtor's assets and employment, you would most likely have to engage an attorney to collect from either a wage garnishment or levy on property.
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