I'am trying to collect a loan.

This is a discussion on I'am trying to collect a loan. within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; Dear To Whom It May Concern: In January 1997 I loaned $ 11,000.00 to my friends (husband and wife) and ...

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Old Apr 25th, 2008, 12:54 PM   #1
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Default I'am trying to collect a loan.

Dear To Whom It May Concern:

In January 1997 I loaned $ 11,000.00 to my friends (husband and wife) and our agreement was that money would be paid back with interest. During the next 2 years I loaned them more money under the same terms. Some of the principal amount was paid back.

In December of 2000 husband filed for Chapter 7 Bankruptcy and was discharged in November of 2003(his wife wasn’t included). My loan and I wasn’t included in a list of unsecured creditors. All of those transactions took place in Illinois and in 2004 they moved to Florida.

The last payment from them I received in February of 2007 in the amount of $ 6,000.00.

For the past 4 years they live in a condominium paid for and deed to by the Trust, established by his father. The trust also pays for the family living expenses.

They opened a small business for the income tax purposes and don’t legally work other than for cash payments.

I would like to know if there’s any way for me to get my money back (the total amount due now is about $ 35,000.00 including interest) and would appreciate help in this matter very much.

Thank you.
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Old Apr 27th, 2008, 07:23 PM   #2
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Default Re: I'am trying to collect a loan.

Based on what you say here, you could file suit against them (or at least threaten to do so) in small claims court or in regular court; filing in small claims court is easier and requires no attorney but you may have to file for just a payment due or a smaller amount...you could try to collect all of the costs and damages that you suffered due to their behavior...
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