momahick

Promissory Note

3 posts in this topic

We let my Step son who recently moved here from Germany Borrow $1400. He got the money on Monday then told us he was moving out on Tues. My Husband had him sign a Promissory note. He moved out the next morning and has blocked all contact with us. Is there anyway to get out money back either Civil law suit or considering he was already planning on sneaking out Fraud. My husband and I are both disabled and need this money back.

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Sure, you could sue him in small claims court and the cout could award you a judgment.  But it would be very unlikely you will be able to collect.  You would have to find his employer, if any,  or bank account, if any, or other property, if any,  that could be seized and sold to satisfy the judgment..  

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15 hours ago, momahick said:

Is there anyway to get out money back either Civil law suit or considering he was already planning on sneaking out Fraud.

 

While your fraud allegation may be well taken, this is not the sort of thing most or any police departments are going to be willing to devote time to.  You'll have to sue the borrower in small claims court.  Whether you'll actually be able to recover anything is anyone's guess.

 

 

15 hours ago, momahick said:

My husband and I are both disabled and need this money back.

 

If losing $X will hurt you meaningfully, then you shouldn't gamble it away, which is basically what you did here.

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