Loaned friend 10K, cant get it back: HELP

[Ray Zee]

you may want to find out what the time frame is before you can no longer file suit in your state. and you may also want to talk to an accountant as to how to treat that money on 2005,& 2006 returns.

[TonyDanza]

I would talk to a lawyer and an accountant. The lawyer will know the relevant laws you will need to follow and should explain the best path to take. In the meantime, it would not be a bad idea to write your friend a formal letter demanding payment and outlining the exact facts 10K. This will help you later if this ends up going to court.

[Willy Gee]

Small claims might not work. Small claims courts often have juridictional limits. For instance, no claims over $3,000.00. I don't think a 10K debt will be considered a "small claims" matter.

[bmk67]

[ QUOTE ]
Don't lend anybody money you expect to ever see again. Consider it a lesson.

[/ QUOTE ]

FYP

[frommagio]

[ QUOTE ]
Small claims might not work. Small claims courts often have juridictional limits. For instance, no claims over $3,000.00. I don't think a 10K debt will be considered a "small claims" matter.

[/ QUOTE ]

Last time I was in small claims court, it was the early 80's, and the limit was $5k. I'd be shocked if $10k isn't a small claim anywhere near a city in 2007! But it could be...

[The Bandit Fish]

[ QUOTE ]
[ QUOTE ]
Small claims might not work. Small claims courts often have juridictional limits. For instance, no claims over $3,000.00. I don't think a 10K debt will be considered a "small claims" matter.

[/ QUOTE ]

Last time I was in small claims court, it was the early 80's, and the limit was $5k. I'd be shocked if $10k isn't a small claim anywhere near a city in 2007! But it could be...

[/ QUOTE ]

It depends on the city. Some are ~3k, others 5k and I'm sure some go even higher.