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Personal cash loan collection based on a promissory note (not notarized).

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Roger85

Member
Hello. My 79 year old mother has loaned $25K to her son in law (my sister's now ex-husband) almost 4 years ago. They both signed a promissory note (which was not notarized) the money will be returned within three years. Deadline passed last April, and he ignored several communication attempts. She also gave him cash, so there is no "receipt".

Does she has any chance of getting this money back in court?

Thanks
 


Zigner

Senior Member, Non-Attorney
If your mother wishes to sue, she could do so in small claims court, but the limit is $10,000. She would have to give up anything over that. Then, even if she won, she'd still have to collect - that's her job, not the court's.

The lack of notarization is irrelevant. Notarization only provides proof of the identity of the signers. The only time it might be a problem is if the guy argues that it's not his signature on the document.
 

Just Blue

Senior Member
Hello. My 79 year old mother has loaned $25K to her son in law (my sister's now ex-husband) almost 4 years ago. They both signed a promissory note (which was not notarized) the money will be returned within three years. Deadline passed last April, and he ignored several communication attempts. She also gave him cash, so there is no "receipt".

Does she has any chance of getting this money back in court?

Thanks
Were your sister and her now ex husband married at the time of the loan?
 

Zigner

Senior Member, Non-Attorney
Thanks. Another option is to hire an attorney and sue for the full amount, right?
That's an option, but she's not going to get the attorney's fees back...
And, again, she'll still have the problem of collecting.
 

not2cleverRed

Obvious Observer
It doesn't matter - mom isn't a party to the divorce.
It matters in the sense that if it was a loan, and not a gift, it should be acknowledged and affirmed who was responsible for repaying it.

I find the "we found out after the fact" telling. Does the "we" include Roger's sister - the one that was married to the bum? Was the son-in-law borrowing money without his wife's knowledge?
 

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