Roommate owes money -- Small Claims time??

What is the name of your state? WISCONSIN

So back in May, my roommate was having financial troubles, so being the nice guy I am, I offered to cover his rent, utilities, etc. until he could get back on his feet financially...

Fast-forward to November...

Roommate STILL owes me $340, and I get wind that him and my other roommate are moving out at the end of December...luckily he was having problems paying back his druglords (which is his only job, by the way), so I had him sign a contract saying he'll pay me by December 21st in full, or else 5% interest is tacked onto the full amount everyday until the full debt is paid (and he signed it).

I fully intend him to pay, but what do I do if he decides NOT TO? Should I be in Small Claims court on the 22nd (especially with Christmas coming)?? What are the necessary steps I need to take in order to get my money back?

Any help is MUCH appreciated!What is the name of your state?

You may not be able to collect the 5% per day (google usury). But, feel free to sue in small claims court for what he actually owes you.

If he doesn't pay you on the 21st, you can sue to get your money. That said, you cannot legally charge 5% interest per day (Tony Soprano wouldn't even charge that much!), nor will you be in court on the 22nd. You'll need to file a complaint, have the roommate served, and wait for the court date. It may take a couple of months before you're in front of a judge.

BoredAtty said:

If he doesn't pay you on the 21st, you can sue to get your money. That said, you cannot legally charge 5% interest per day (Tony Soprano wouldn't even charge that much!), nor will you be in court on the 22nd. You'll need to file a complaint, have the roommate served, and wait for the court date. It may take a couple of months before you're in front of a judge.

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I'm fine with dropping the interest -- should have probably looked into that before...maybe it was just frustration...what's the process for small claims? I've never had to do any of this before...

Here's a link to Wisconsin SC procedures and it includes forms:
http://www.wicourts.gov/about/pubs/circuit/smallclaimsguide.htm

If you were planning on going on 12/22/07, be careful that you don't get busted for breaking and entering. The date is a Saturday, and there won't be that many people around.

dcatz said:

Here's a link to Wisconsin SC procedures and it includes forms:
http://www.wicourts.gov/about/pubs/circuit/smallclaimsguide.htm

If you were planning on going on 12/22/07, be careful that you don't get busted for breaking and entering. The date is a Saturday, and there won't be that many people around.

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Thanks very much for that link!