Repayment of Sizeable Personal Loan

[NotSoSmartJC]

Last year, I made a personal loan in the amount of $30,000 to my boyfriend so that he could purchase a new truck. He had the income and credit to purchase the truck himself however, I loaned him the money so that he could pay cash in full. His house was on the market at the time, and he indicated he would pay me back at close of escrow when his house sold. It has yet to sell.

Two months ago, we broke up. At that time, he told me he would go to his broker and just get cash out of his investment accounts to repay the loan. (He has a 6 figure income and is capable of paying me back.) I have called and emailed him to find out what is going on and he has not responded. I am concerned that he is stone-walling me out of spite. I have nothing in writing except for my returned checks on which I wrote "loan" in the memo.

Do I have any legal recourse in this situation? I don't want to end up in court unless I absolutely have to, but I need to know what options I have.

Thank you for your help.

 

[seniorjudge]

Q: Do I have any legal recourse in this situation?

A: Yes. Sue the bad person.

 

[NotSoSmartJC]

OK. That's good to hear. Thank you!

 

[Duranie]

This is going to have to go through your civil court, you might want to see an attorney.

Did you 2 talk about a repayment plan? did you have him sign anything? This can be easily seen as a gift as well. You have the burden of proving it was a loan and even if you do win the case, getting him to actually pay the money back will be another hurdle.

Is the truck in his name only?

You might want to have an attorney type up a letter saying he has so many days to pay you. Are you can sue him and get a judgement, attach it as a lien. If his home doesnt sell before then, you may have a chance to see your money.