Q: I loaned a friend $1,000 in which she contractually agreed to pay me back on a certain date and she hasn't, what now?
loaned on the 26th of June she said it would be repaid on the 5th of July. She initialed a contract and I have texts of her agreeing to pay me back. She is 5 days past due and has been paid but she is more worried about herself than her actual agreement.
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A:
Under California law, you have a few steps you can take to recover the $1,000 loaned to your friend. Start by sending a formal written demand for repayment. This should include the loan amount, the agreed repayment date, and a new deadline for repayment. Be sure to mention the contract and the texts as evidence of the agreement.
If your friend still does not repay, you can consider taking legal action. Small claims court is a viable option for disputes involving amounts up to $12,500. Filing in small claims court is straightforward and designed for individuals to represent themselves without needing an attorney.
Gather all your documentation, including the contract and text messages, to present your case. Be prepared to show that your friend received the money and agreed to repay it. If the court rules in your favor, it will issue a judgment that your friend must pay the loan back.
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