Friend defaults on verbal loan agreements

[shirley0827]

What is the name of your state? Missouri

I, unfortunately, agreed to take out a loan for a PC as well as a used boat for a friend who had poor credit. The friend and I agreed that I would take out the loans and the friend would pay me for the monthly payments. I do believe the friend had honest intentions, and I did receive payments for the first few months. The friend lost his job and has been unable to find employment for almost two years.

I paid off the loan for the boat in December 2002. The boat was never in my name, so I am unsure I could actually prove anything unless his son would testify to what he heard about the verbal agreement.

I am STILL paying for the PC which is in my name, but in my Friend's possession.

All together the loans totalled approximately $5,000.

Is there any way to recoop my losses? Part of them?

Thank you!

 

[lwpat]

Verbal agreements are enforceable if you can prove them. If you have the records of your payments for the boat them you can sue him for that amount. The court will decide based on the evidence presented. Your local magistrate can provide the forms and instructions on filing. They cannot provide legal advice.

The PC is in your name and you should have the sales receipt. If not then contact the merchant and request a duplicate. Then simply request the return of your property. You may want to do this CRRR depending on the relationship. If he refuses then you can also sue for the value of the PC.


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and the county in which author resides and is for general
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If you need legal advice contact an attorney.