I loaned a friend who is not a friend now conincidentally, some money. She had defaulted on the loan.?

Question

Can I charge interest on the loan from the default day, even though we don't have it on a promissory note. She refuses to pay me back and is avoiding her responsibility. On Judge Mathis, a plaintiff had a situation like mine and he gave her interest. I know the maximum in IL for usury is 9% in judgment but generally 5%.

Answer 1

Did you get it in writing? If not you can't charge her interest.But I would hand the debt to a debt collector.They usually charge the offender.Don't lend friends money.

Answer 2

Since you don't have a promissory note, there is nothing you can do. You can send a letter 1 regular 1 certified saying unless the said amount is not received within 10 days, other actions may be taken. Note I said may be take, not will be taken. In the future never lend money to friends or family because they'll never pay you back

Answer 3

Tell her to pay you back or you're taking her to court for the balance in full plus interest since she stopped paying... If she still doesn't pay, take her to court! It's only like $60 to file the paperwork. Even if it's not much money she owes you it's the principle that counts. People need to be responsible. Make sure you have some proof that she made some payments (bank statement of deposits or a handwritten receipts). That will help you significantly, so it's not "she said/she said".

Answer 4

If i were you i would just keep presuring her. That is what happend to me, ( Exsept i was the friend and it was only 15 bucks. xD )

Just keep reminding her and reminding her and oventually she should break.