Verbal Agreement to pay $6,500 in MD

[LetsGetWithItt]

What is the name of your state (only U.S. law)? Maryland

I had a verbal agreement with a friend to pay me back $6,500 I loaned them for a down payment on a truck. He wanted to buy a new vehicle as his old one died and he was moving to another state and thus didn't feel he would be able to finance the vehicle in the new state due to lack of job history. I agreed to loan him the money upon verbal agreement that he would pay me $2K from his 401K when he left his job in July, the car was purchased in May. He moved out of state, but technically never left his job as he claimed illness and went out on long term disability. He has since returned to his old job, or at least has not formally resigned or been terminated. However, he has not paid my the $2K which was due when he moved away left his job. He was then to pay me back in 5 payments, 4 for 1K every 6 months for the next two years with a final payment of $500. I can verify that I took out $6,500 from my account the same day the car was purchased. I can also verify that he moved out of state. Do I have any recourse in this matter?

 

[Dandy Don]

Did you pay him in cash? If you had a cancelled check you would have proof.

Verbal agreements aren't worth squat in a court of law. Hope you have learned a valuable lesson.

 

[LetsGetWithItt]

I don't have a cancelled check, but I do have a copy of the certified check. I also have an email from him admitting to owing the debt, that is the only thing I have on paper.

 

[Dandy Don]

Order a copy of the BACK of the certified check from the bank (to show his endorsement) and then head to small claims court to file your claim. After the court proceedings, most likely you will get a judgment that can then be enforced for payment.