No Promissory Note

[Weiner]

[I lent a friend over $10,000 from my 401K, with the verbal promise of repayment in 2 - 3 weeks. This friend is a co-worker and it is now 8 weeks, and my paycheck was $0.00 I have the receipt for the check written to her, I gave her options on repayment in writing, and she will not answer or return my calls.

We are both valued employees at the company and I do not want this to interfere with our working relationship. Any advice at this noment would greatly be appreciated. I reside in Michigan.FONT="Georgia"][/FONT]

[LawResearcherMissy]

If she's ducking your calls, I would think your options are pretty limited.

Your employer isn't going to get involved. If you can't buttonhole her and get her to pay up, you would seem to be limited to either sucking up a $10K loss (ouch) or getting a lawyer and taking it through legal channels.

[525601minutes]

You are about to learn a lesson the hard way.

This happened to me once too. After getting the run around for two months I filed against this "friend". It took three months to get a court date. They were a no show and so I got a judgement against them. Still no payment. Now if they do not show for the 'debtor's exam' they will have a warrant against them - but it won't matter.

I found out later this same 'friend' had their house forclosed, their cars repo'd etc. He owes money to 'friends' all over town and had counted on their kindness 'just a few more weeks and I'll pay you back' for years.

My advice - do not mistake them as a real friend. Do not let this interfere with your job at the workplace.
Take legal action IMMEDIATELY.

[usedbranflakes]

...and whatever you do, do not confront her at work.
My guess is that you are a guy.
If you are a guy, make sure that there is ALWAYS another guy, or group of people, who are with you. She is a woman and has the upper hand in sexual harassment charges.

Chances are that she has a drug or gambling habit; my guess is gambling as this loan sounds like it was around the time of the games leading to the Superbowl. Granted, she may have taken it and spent it on plastic surgery, but you would have likely noted that and you would have seen some brand new additions. My other guess is that she is attractive and played you like a gullible IT guy. It's just a guess.

Did she say what the loan was for? Can you prove that you two had an agreement?
You may have to subpoena her bank's records, which should be the account on the back of the check.

Since it was not a gift, and it was a loan, it is not reportable to the IRS. I certainly hope you wrote a check and the check has "Loan" or something else in the memo box. If you gave her cash or a cashier's check it will take a little more work. ...and I hope you used the memo box.

You can try putting a stop payment on it, but if it has been cashed, you are toast.

You can't hit her for theft because it was a verbal agreement.

You are going to have to take her to court...

[Weiner]

Number one I am a female. I felt that this woman was telling me the truth regarding her finances, and even showed me her check book, bills owed and her pay check.
She informed me today that she only has 3 grand left, where the other money went I have no clue and she will not tell. I have been duped by this woman and when I pull her name up on my search engine, she has lived in several places including West Palm. I informed her that she had better come up with a payment plan that is suitable to both of us. She informed me that she is going to quit the company, which she has 11 years with, cash out her 401k and pay me back. I feel I need to start legal action against her NOW. I am considering her a flight risk, and she has no intention to remain friends. I consented on that remark.
I feel I need to speak to upper management, because if she does leave the company then I am going to have to hunt her down. The monies involved are from our company 401K and I will be contacting the benefits company that handles our accounts. I am afraid she has also lied regarding her 401K status.
Any comments with this extended information?