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Hi Everyone
Friend of mine came to see me with his money problem. I did not have any cash, but I got $ 5000 in my credit card. That was in 2004. He accepted to use the credit card, and we signed the agreement that by the end of 2004 he would pay the hole many. What happened was he paid the minimum, some time minimum plus $300.
In 2005 we signed another agreement, and same thing happened.
In 2006 he told me he would pay me with 2006 income tax money. We signed the agrement that he would pay me by the end of 2006. When he got that money he gave me only $ 300. I heart he got $ 5000 income tax money. He flew to Jamaica, party, got fun and came back.
This year he is paying only the minimun. Some time he is making excuses and I have to wait for two months to get two minimum payements.
One of his friend told me he said he don't want to pay any more, and he is plannig to go to another state.
Since he signed the agreement I want to take him to the court to get the balance. He is still paying the minimun for know. He is saying again he will pay the balance with 2006 income tax.
From 2004 to 2007 he paid $ 2000.
I need help to see if I can win the case. Thanks
Question is, which is more important: Friendship or Money? It's a good lesson to learn, that you don't loan money to friends or family and expect it back.
And if you've got all the documentation, you could win in court. Make sure to get a lawyer, though.
But I totally agree with sedie. I always say, if you loan someone $20 and never see the person again, it was probably worth it. I've been burnt before but just chalk it up to tuition to that school of life. Unfortunately, wasn't able to take a tax write-off for the tuition thing. You may be able to take a tax writeoff for personal bad debt.
Yes, I learn my lesson. Thank you for your contribution. Happy new year, and God bless you.
I wasn't trying to criticize you. I've learned many lessons the hard way. It hurts.
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