Q: I need to know where to start and what to do as an individual trying to gain repayment of a friend to friend loan.
So I did a friend to friend loan that has been going on for a couple of years and I d not have a collection of transactions made to the individual requesting the money. But we have both come to terms that she owes me a total of $24,000. The money was to help her get back on her feet and support her kids till she got a job and can start repaying me. She has two jobs now and still has not started repaying me and I feel as though she doesn't have any plans to pay me at all. I should have gotten it all in writing and set up a contract for repayment, but I was not thinking at the time. I can however get that done some time in the future when I return from my overseas deployment. So what should I do?
A: I would suggest waiting to get things in writing, as at the moment it would be hard for you to prove what the repayment terms were. As in, when does she have to start repaying you.
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