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Statute of Limitations on a Personal Loan to a Friend

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  • 10-25-2016, 12:07 PM
    Trudy
    Statute of Limitations on a Personal Loan to a Friend
    My question involves court procedures for the state of: Texas

    Hello, I loaned my exboyfriend's brother money in 07/30/2014 in the amount of $3,000. This was done by way of check written to brother, with memo of "Loan" written on check, of which the brother signed and deposited in his account. I am trying to collect in small claim's court and was wondering if still valid under statute of limitations to take to small claims? He is offering $100 monthly and I did not accept because it's too low. I have text messages showing he is offering to pay $100 monthly and stated to me I will not tell him terms to pay me back. There was not written or oral contract. Money was loaned to Exboyfriend's brother but boyfriend states (via texts) he was given some of the money for his use and that he (exboyfriend) owes me and wants payment plan. Kindly advice.
  • 10-25-2016, 12:33 PM
    Mr. Knowitall
    Re: Statute of Limitations on Personal Loan to Friend
    The general statute of limitations for contracts is four years.
  • 10-25-2016, 02:33 PM
    adjusterjack
    Re: Statute of Limitations on a Personal Loan to a Friend
    Quote:

    Quoting Trudy
    View Post
    My question involves court procedures for the state of: Texas

    Hello, I loaned my exboyfriend's brother money in 07/30/2014 in the amount of $3,000. This was done by way of check written to brother, with memo of "Loan" written on check, of which the brother signed and deposited in his account. I am trying to collect in small claim's court

    There is no try. There is only sue or not sue. Have you filed the court papers and had the summons and complaint served on the brother?

    If you haven't, then you aren't doing anything in small claims court, you are just blowing hot air.

    If you have filed and served the lawsuit, there is no need to continue discussion. Let the case run its course and if you get a judgment you'll have a little more leverage.

    Quote:

    Quoting Trudy
    View Post
    was wondering if still valid under statute of limitations to take to small claims?

    Yes.

    Quote:

    Quoting Trudy
    View Post
    He is offering $100 monthly and I did not accept because it's too low. I have text messages showing he is offering to pay $100 monthly and stated to me I will not tell him terms to pay me back. There was not written or oral contract.

    You may have a problem there if no payback terms were discussed. On the other hand it could be construed that the entire $3000 was to be paid back within a reasonable amount of time and two years later, nothing has been paid.

    Quote:

    Quoting Trudy
    View Post
    Money was loaned to Exboyfriend's brother but boyfriend states (via texts) he was given some of the money for his use and that he (exboyfriend) owes me and wants payment plan.

    I suggest that you tell Ex BF that he is welcome to send you money but you are still suing his brother because that's who the check was made out to. Doesn't matter who the brother gave money to.

    Again, until you actually sue the brother (and not just talk about it) you'll get nowhere.
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