Can I get a loan back from a friend without having a contract?

[Farmersblendcof]

Hi there, I have loaned a friend of mine 10000 USD to start a business. This was 5 years ago. I have received 2.500 USD back from him but that's it as his business went down. I keep reminding him but nothing happens.

Now the question is, can I somehow get a lawyer to take care of this? I have email correspondence where he admits that he owes me money but never anything with his signature nor a contract. If there is any opportunity to go the legal way - how long would it take.

You advice is appreciated.

Thanks

 

[justalayman]

What US state are you in and if the debtor is in a different state, which state?

 

[Farmersblendcof]

What US state are you in and if the debtor is in a different state, which state?

I am in Hawaii and he is living oversea in Vietnam. Could have mention that in advanced

 

[justalayman]

You will have to speak to somebody familiar with Vietnamese law.

 

[Farmersblendcof]

So from an American side I can't do much? He is still registered in the US (California).

 

[LdiJ]

So from an American side I can't do much? He is still registered in the US (California).

Not if he is physically located in Vietnam. I am not sure how you could even collect from him if you could get a judgment. The cost of doing so would likely be far greater than the 7500.00 he still owes you.