IS it worth it?

[kennywood]

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

4 years ago I bailed a friend out of jail $500. I also helped this same person pay some of there bills $375. In 4 years he has managed to pay me back only $100. This was all verbal, nothing written down just man to man and a hand shake. Not only have I not been payed back but he refuses to pay me back, telling me "good luck getting the money from me". Aside from never lending money to anyone ever again what can I do. Without a written agreement can I even take it to small claims court? If I could, for such a small amount is it even worth it or should I just kiss my money goodbye?


P.S. I'll watch my mouth this time. I let a few swear word out last time (it was not out of anger, just the way I talk) and my thread got shut down. This is your forum not mine so I will show the proper respect from now on.

 

[quincy]

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

4 years ago I bailed a friend out of jail $500. I also helped this same person pay some of there bills $375. In 4 years he has managed to pay me back only $100. This was all verbal, nothing written down just man to man and a hand shake. Not only have I not been payed back but he refuses to pay me back, telling me "good luck getting the money from me". Aside from never lending money to anyone ever again what can I do. Without a written agreement can I even take it to small claims court? If I could, for such a small amount is it even worth it or should I just kiss my money goodbye?


P.S. I'll watch my mouth this time. I let a few swear word out last time (it was not out of anger, just the way I talk) and my thread got shut down. This is your forum not mine so I will show the proper respect from now on.

The statute of limitations for oral contracts is 3 years in Arizona (6 years for written contracts), so it is probably time for you to kiss your money (and your friendship with this neer-do-well) goodbye.

See Arizona Revised Statutes §12-541 et seq.

Thank you, by the way, for respecting the forum, kennywood.

 

[latigo]

With all due respect for Q's advice, if I were you and the deadbeat told me to shove it, I'd file a lawsuit in a heartbeat. And hang the Arizona 3-year statute of limitations.

In the first place the statute would only have begun to run when the agreed time for repayment of the loan came and was not paid (breach of contract) and your testimony can conveniently fix that date within the statutory period. Secondly, the statute would have begun to run anew with each payment.

Most important the expiration of the statute is an affirmative defense and must be asserted or it is waived. Meaning that if you sue the guy he must raise the defense of the statute or it has no consequence. Plus if he does raise it, the burden of proving it has expired is on him.

Besides chances are he won't have the b*lls to show his face in court.