I was wondering what the Statue of Limitations is on filing a judgment again someone who I lent money to as a personal favor. We only had a verbal agreement that she would pay me back. I have my records showing where I sent her the money and I also have emails regarding the repayment of the money.
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Lending money to friend, verbal agreement to pay back
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army judge
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Your only legal option is to bring a small claims case against her.
The SOL for oral agreements won't matter because in most of these cases the borrower denies the money was a loan, preferring to simply say it was a gift and not a loan.
Because you asked, in Indiana, oral and written agreements for loans BOTH have a 10 year shelf life.
You can bring a small claims lawsuit in your county.
Small claims in Indian, explained:
http://www.in.gov/judiciary/2710.htm
Small claims can be very frustrating, because if you receive a judgment, you must then and try to collect on it.
The latter is often met with futility and frustration.
Note also that the defendant will need to assert that the statute of limitations has run out.
As army judge has said, there will frequently be assertions that the loan was a gift -- you see this all the time on "The People's Court." You'll want to gather as much evidence as you can to show that the loan was indeed a loan. You can use any evidence you have, including text messages, emails or physical evidence or witness testimony.
Before you even consider Small Claims Court, send a demand letter via certified mail or a certified mailing. You should state the amount loaned, the date due (such as 4 weeks from the date of the letter) and a demand to pay no later than that time. That may jolt the defendant into a payment mode or receiving a summons and complaint from the court might do the same. Good luck.
As army judge has said, there will frequently be assertions that the loan was a gift -- you see this all the time on "The People's Court." You'll want to gather as much evidence as you can to show that the loan was indeed a loan. You can use any evidence you have, including text messages, emails or physical evidence or witness testimony.
Before you even consider Small Claims Court, send a demand letter via certified mail or a certified mailing. You should state the amount loaned, the date due (such as 4 weeks from the date of the letter) and a demand to pay no later than that time. That may jolt the defendant into a payment mode or receiving a summons and complaint from the court might do the same. Good luck.
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