What is the name of your state? Pennsylvania
Hello,
I would like to thank you first, for taking the time to offer input where input is needed. Its a wonderful feeling to know there are people who volunteer their time for the sake of others.
This is my first time here. I found the site because I was doing some research on civil cases.
Issue at hand - A friend who has failed to repay an $800.00 cash loan. My husband and I gave the loan in Feb. 2005. The loan was a verbal contract (longtime close friend) and was witnesses by another person.The only paperwork we have is our bank statement showing we withdrew the cash on the specific date we made the loan.
Over the course of the year we have been given promise after promise, date after date for repayment... only to end in excuse after excuse and no repayment.
The friend does not deny they owe us this money and (maybe I am naive) but I don't think they would deny it in court.
Questions - Is there a statue of limitations on a case like this? Does our witness count in this case? What are the chances this will prevail in court and judgment for repayment be made based on having only a witness? We fear that if we let this go any longer, we may never see the money anyway. If we were to get a written statement from the friend documenting that they owe this money to us, will it still stand even after all this time?
Any other information regarding a way to try and get repayment is very much appreciated.
..... And for the record, don't ever loan money to friends, no matter how long you have known them. Lesson learned.
Thank you so much!
~MWhat is the name of your state?
Hello,
I would like to thank you first, for taking the time to offer input where input is needed. Its a wonderful feeling to know there are people who volunteer their time for the sake of others.
This is my first time here. I found the site because I was doing some research on civil cases.
Issue at hand - A friend who has failed to repay an $800.00 cash loan. My husband and I gave the loan in Feb. 2005. The loan was a verbal contract (longtime close friend) and was witnesses by another person.The only paperwork we have is our bank statement showing we withdrew the cash on the specific date we made the loan.
Over the course of the year we have been given promise after promise, date after date for repayment... only to end in excuse after excuse and no repayment.
The friend does not deny they owe us this money and (maybe I am naive) but I don't think they would deny it in court.
Questions - Is there a statue of limitations on a case like this? Does our witness count in this case? What are the chances this will prevail in court and judgment for repayment be made based on having only a witness? We fear that if we let this go any longer, we may never see the money anyway. If we were to get a written statement from the friend documenting that they owe this money to us, will it still stand even after all this time?
Any other information regarding a way to try and get repayment is very much appreciated.
..... And for the record, don't ever loan money to friends, no matter how long you have known them. Lesson learned.
Thank you so much!
~MWhat is the name of your state?