Help me get my money?
February 27, 2012 1:34 PM Subscribe
How do I go about collecting money owed to me by a friend?
posted by anonymous to law & government (15 answers total) 2 users marked this as a favorite
About a year ago, I loaned a friend a substantial amount of money (~$4000) to handle some short-term costs for his small business, including dealer fees for a booth at a large convention. He was to pay me back shortly after the convention, and had previously paid back smaller loans in very short order.
However, this loan's been a problem. Various conventions and other happenstances appear to have gone poorly for him and his business, and he's hemmed and hawwed about how or when he could pay me back. 2 months ago, I demanded that he start paying me back at least in installments, and he agreed that he could do that. He proposed a plan that would have me paid back in 2 years, while I told him that I'd really like to be paid in under a year.
In any case, the first and second payment dates have come and gone, and he's stated that he's unable to pay me anything, not even the smaller amount he said 2 months ago that he could pay. At this point, I am ready to go to small claims court, but I'm wondering whether I should tell him this first, or if it's better to just go ahead and file the paperwork.
I know Metafilter is not my lawyer, but if you've had any similar experiences, I'm hoping you can help me through this.