In Aug, 2006 I lent $8500 to a friend and his wife at 6.5% payable over 39 months. I have a signed contract, signed by the friend and his wife. After 8 payments they stopped making payments and will no longer respond to requests for payment. With accrued interest the open balance is about $7800.
Since there are 2 people on the contract can I name them independantly in 2 seperate suits, thereby attempting to recoup $6000 though small claims? The other option is to forgo the amount over $3000 and file in small claims by myself or hire an attorney and file a civil suit for the full amount? I have my doubts if this last option is financially feasible.
With a small claims judgement can I file post-judgment interrogatories to find out where they work?
I think I am inside the statute of limitations but should I go to small claims court does the amount of lapsed time hurt the case? I was going to "write off" the total amount as a loss and learn the lesson, never lend money, but with the current economic changes I am reconsidering that course of action.
Thanks for any feedback in advance.
Since there are 2 people on the contract can I name them independantly in 2 seperate suits, thereby attempting to recoup $6000 though small claims? The other option is to forgo the amount over $3000 and file in small claims by myself or hire an attorney and file a civil suit for the full amount? I have my doubts if this last option is financially feasible.
With a small claims judgement can I file post-judgment interrogatories to find out where they work?
I think I am inside the statute of limitations but should I go to small claims court does the amount of lapsed time hurt the case? I was going to "write off" the total amount as a loss and learn the lesson, never lend money, but with the current economic changes I am reconsidering that course of action.
Thanks for any feedback in advance.