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  1. #1
    dood is offline Junior Member
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    Angry A friend won't repay loaned money

    What is the name of your state? Tennessee

    A friend of mine owes me over $2000 and won't repay me.

    He said the other day that if I don't continue helping him with money then I'll never hear from him again and he won't repay me anything.

    After his business failed last year he couldn't pay his bills. I felt sorry for him and loaned him money over several months until he could get back on his feet. I've been helping him pay for his house/car/utilites and even his kids christmas presents.

    He is supposed to repay $200 per month but has only made one payment so far.

    His only income is from the military paying for him to go to college and from military disability payments (which is a scam). He goes to school for a few months and then when the disibility payment comes in he drops out, it's a regular cycle. His father is on 100% disability because he's a drunk and the government actually pays him because alcohol has rotted his brain.
    His wife's income is from child support only and they live in a house her parents own. The only thing in his name are a few broken down cars.

    He said I can't garnish his wages because they come from the government which are not even taxable, and that none of the money I loaned him was legally documented so he doesn't have to repay me anything and can get away with it.

    He also took money from people when he knew his business was going under and scammed a relative out of money too.

    He has already filled for bankruptcy twice and threatened his business advertisers that he would file again if they tried to collect what he owes.

    After all the lies and unbelievable things he's said lately I'm ready to do something. It's not about the money, it's the principle.

    Can I write up a promissory note and have a lawyer send it to him even though none of the loaned money is documented and this guy won't sign it?
    Last edited by dood; 01-08-2008 at 03:38 PM.
  2. #2
    Zigner is offline Senior Member
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    Quote Originally Posted by dood View Post
    Can I write up a promissory note and have a lawyer send it to him even though none of the loaned money is documented and this guy won't sign it?
    Why would you do that? All that gives you is proof that he doesn't acknowledge the debt.
  3. #3
    dood is offline Junior Member
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    This shows him that I've contacted a lawyer and that I'm actively pursuing the money he owes. It's better than sitting back and doing nothing.
  4. #4
    Silverplum is offline Senior Member
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    Quote Originally Posted by dood View Post
    This shows him that I've contacted a lawyer and that I'm actively pursuing the money he owes. It's better than sitting back and doing nothing.
    You loaned him money without a contract at the beginning??
  5. #5
    dcatz is offline Senior Member
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    Can I write up a promissory note and have a lawyer send it to him even though none of the loaned money is documented and this guy won't sign it?

    Yes, you can. You’re probably not going to get other than astonished responses (including from me) to your problem, but you’re not even going to able to claim this as a bad debt write-off until you’ve made “reasonable efforts” to effect recovery. An uncollectible SC judgment would be even better in that regard.
  6. #6
    dood is offline Junior Member
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    He's an old friend from high school and only gave him a little bit at a time when he need help with bills with the promise that he'd pay it back.

    I didn't give him a check for $2k, it was just a couple hundred dollars here and there.

    I just got an email from a lady that did work for him who he never paid. He owes her about $1200 and I know of another guy that gave $1200 which was after his business was going under. He owes his cousin lots of money too but I don't know how much yet.

    If I can't prove what he owes me then I'll help the others go after him. I'll even help pay for the lawyer.

    To provide help for someone and their family and then they spit in your face when it's time to repay, I'm going to do what it takes to take him down.
  7. #7
    bluloo is offline Junior Member
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    ... or walk away and call it a lesson learned.

    I once gave a friend $2500 to help him out while he got settled in. Sometime later on he asked to borrow $1500 but I was short on cash at that time. I offered to loan him ~$700, which he would repay at $50 per month. Shortly thereafter, he moved back out of state, I never saw him again and he stopped taking my calls.

    Sometimes you are the bug, and sometimes the windshield.
  8. #8
    Hot Topic is offline Senior Member
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    Excuse me, but how do you think your "friend" is going to come up with the money to pay you and the others back?

    Unless you have something in writing, all he has to do is tell the court that you were friends, and that you wanted to help him out, which you did. People like you are enablers. You give money for this, that and the other thing, then complain bitterly when the predictable happens.
  9. #9
    FoXyLaDy223 is offline Member
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    I think the only thing you have in your favor is the fact he did make one payment... some small claim judges take this as his promise to repay you for a loan. Only some though, because he can argue it was gifts or whatever else he wants to say. But since you didn't sign a contract, before giving him even a dollar, you may as well swallow your pride and stop all contact with him, let him find someone else stupid enough to give him money without signing anything.
  10. #10
    dood is offline Junior Member
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    I do have something in writing, I made spread sheet a few months ago showing what he owed with how much to pay back per month and made a copy for both of us. He agreed to it but we didn't sign it.

    A couple of the other people who he owes has documented proof. One of them contacted me yesterday and said she will provide any documents to collect her money. The other is known for suing people over much smaller amounts.

    This was a friend of over 15 years and I loaned him money with the promise from him that he would pay me back. He makes $15 per hour by going to school over 30 hours a week and receives large checks from the government for being a disabled verteran.

    I don't appreciate people on this forum calling me stupid.
    Last edited by dood; 01-09-2008 at 05:59 PM.
  11. #11
    Tayla is offline Member
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    A signed promissory note would have been the proper way to handle this matter.
    Since no documents with both parties agreeing were ever signed, its a he said she said type deal.

    The term *stupid* may have been less then positive, yet it refers to a persons mindset when they do something nieve or without considering the full end result. Clearly you didnt consider the end result *or possiblity* that this person would not repay you. Which is why folks are trying to get you to understand that you cant suck blood out of a turnip.
    Do you have any cancelled checks that show you loaned this money to him?

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