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Re: Money Owed on Credit Card by Friends
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Posted by Why Chat (209.240.222.130) on August 04, 2002 at 09:11:06:
In Reply to: Money Owed on Credit Card by Friends posted by Patricia on August 04, 2002 at 01:35:46:
IF you have records showing they made prompt payments from the start of the loan,AND that the FIRST time they were late was less than 4 years ago,you can file suit against them in small claims court. (Ohio oral contract SOL= 4 years) Unless you have an actual signed and sealed legal note from them,properly drawn up with all the terms and penalties spelled out, which would be a 15 year SOL.If you are suing on a "friendly" loan, you had better have proof of whatever payments you received, whatever correspondence you had from them giving evidence that it WAS a loan, and not a gift,and proof of their default starting within the SOL.
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