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KY - Loan to a friend

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9

99-Vette

Guest
I live in Kentucky.

In April of 1999 my wife and I were planning a Vegas vacation. We invited another couple along.

We all agreed that we would split the cost of the hotel ($396). Our female friend asked if I cared to also purchase their airline tickets on my credit card. At that time she was working part-time for my wife and she verbarlly agreed to repay $50 a week until the loan was paid in full.

I purchased all of the airline tickets, their part totalled $436. The total due to me was $634.

It is now March 2001 and I have still yet to receive a payment. During the 2 years, I've repeatedly asked for the money. The last time was in November 2000, I talked to our male friend (who did not verbally agree to the loan) and he said that he would try to get me some money.

During this time, I divorced my wife. We used to be really close with this other couple, but since my divorce, I've only heard from them once (the time I had to call asking for money).

My questions are these:

1) Is there a statue of limitions for a loan to a friend?

2) The agreement was verbal. The only proof that I have is the Travel Agency's Itinerary listing all airline tickets purchased along with my credit card number. Do I need any other proof?

3) Since I don't have any physical proof of the agreement for the lodging, shoud I just forget about the $198?

4) Do I need a witness. I'm not for sure if my ex-wife will want to get involved in this matter.

5) Should I attempt to have a lawyer send a letter first to try to scare them into paying?

Any help would be appreciated.
 



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