Q: I drew a loan agreement with a friend, but he has now moved back to india without repaying my loan. How do I proceed?
I loaned him roughly $45000, and I was notarized letter to prove this. Since then he has moved back to India, and now refuses to pay me back. I was in touch with him till February 2011 and now he doesn't respond to my calls. I know of his where abouts in India and can track him down. Is there some legal way to get my principal amount back from him.
You could file an action in NJ and see if the Court will enter a judgement against your friend, but if your friend does not have any assets remaining in the U.S., then you may have to take the judgement to a court in India to make it enforceable against the assets that are in that country or you may have to file a lawsuit in India first and then try to have it enforced in India. Similarly, if there are assets in the U.S. but not in NJ, then you can either file a lawsuit in the State where the asset is located and then ask the Court to enforce it in that State or file suit here in NJ and then go into the other State's Court to have it enforced.
If your friend still has assets in NJ, then you could ask the Court to enter a judgement so the Sheriff has authority to collect your debt from the assets in NJ.
If your friend has no assets in NJ, then I suggest contacting an attorney in the jurisdiction where the assets are located for advice.
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