In September of 1999 i loaned a married couple $1200.00 on my credit card.

[Jacquelyn Scobe]

What is the name of your state?Lousiana
I was wondering what it would take to recieve the balance do to me because as of 3/11/03 they have told me they refuse to pay me what they owe me. They were originally told to pay me $26.00 a month until the balance was paid off. Now their telling me they will pay no more. I need to know what i should do to get the interest and balance they owe me paid off. The money was used to purchase a computer.

 

[Ladynred]

Did you have anything in writing for the 'loan' and the repayment terms ? If not, you're going to have a tough time recovering the money and/or payments, even if you sue them for it.

 

[Jacquelyn Scobe]

Thank you for your help. I wanted to ask if i didn't have anything in writing would it help that i have check #'s and also there were a few times they wrote the check directly to my credit card? Or could you give me some kind of advice on what could help?

 

[Jacquelyn Scobe]

Also on the bottom of the checks in the memo area it says what the payment was for.

 

[djohnson]

Showing a history of payments is in your favor. You would probably need to file in small claims court. I don't know your states limits however. A verbal agreement is still an agreement and if they said it was a gift and not a repayment loan then they would have a hard time explaining the payments they have already made. I think you have a very good chance. The only problem I see would be on the interest. How much have they actually paid and was the interest of the CC included to them? They could say it was an interest free loan from you. Do you have witnesses to the agreement? How did they let you know they were no longer going to pay? If by writing then you have something there. Why did they say they weren't going to pay anymore?