Can i take him to court?

Question

I loaned a friend money.. he signed a contract saying he has 18 months to pay me back the sum of 3300 dollars. He has like another 2 or 3 months left on that time but i wanted to know if i could take him to court now. He shows no signs of paying me back. I asked him repeatedly to pay me back and i always get the same answer, "i will pay you back later" i dont want to deal with this or him anymore. I want to take him to court, get my money back so i dont have to ever talk to him again. So can i take him to court or do i have to wait until the 18months are over. and when i take him to court what information about him do i need?

Answer 1

Give him the benefit of the doubt.  After all, he's got some time before the contract is up.  For all anyone knows, he's saving the money on his own and paying you back all at once instead of paying installments (but maybe not).  It depends on what the contract says, but YOU agreed to give him a specified amount of time to pay you back.  Just because you want your money before the time is up doesn't mean he is obligated to give it you.  Once the 18 months are over and you don't have any money from him, THEN you have a better chance pursuing him legally.  Otherwise, you both are still within the terms of your contract.

Answer 2

I'd wait until the day after the 18 months is over. Go to the small claims court and file. Make sure you have the signed contract, and anything else about him that you may have. Was the contract signed by a notary? If not, that may not be a problem...but definately wait until the 18 months are over

Answer 3

I'd wait until the day after the 18 months is over. Go to the small claims court and file. Make sure you have the signed contract, and anything else about him that you may have. Was the contract signed by a notary? If not, that may not be a problem...but definately wait until the 18 months are over.

Answer 4

sure you can

Answer 5

If you have a contract - you will have to wait until the contract has expired.  He still has 3 months - you never know.  Please learn from this experience to -  say it with me everyone:  "never loan money to friends"

Answer 6

Since the contract says he has 18 months to pay back the loan there is no reason to go to court now as he is not in default.  

Before, 18 months is over send he a register letter demanding the repayment of the loan as per your agreement (include a photocopy of the agreement), and clearly state the last date for payment (IE 18 months from the start of the loan).  

On that day call your "friend" and ask if he will be paying you that day, if not payment if forthcoming that start proceeding at small claims court.

Answer 7

You should wait until the 18 months is over that way you are fulfilling your part of the contract, then take him to court.

Answer 8

I would take him to court after the 18 months are over.