i owe a friend an amount alittle over 5000 dollars

i owe a friend an amount alittle over 5000 dollars but i did not borrow this aa mount in whole , 5000 is the total of all the money that i borrowed including the interest that she impossed. the last check tha i issued was in may of 2008, and somewhere between middle part of 2008 or early 2009 i closed my checking account because the bank is charging me for having a dormant account. so i decided to closed it caused i am being charge 5 dollars a day. the checks that i issued for my debt was never encashed in the bank at the time my checking account was still active. and my friend wanst to sue me now but i never recieved any summon from the court. what should i do and i am from IL.

4 Answers

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If you borrowed the money from your friend pay it back. Thats what friends do. He was a friend to loan it in your time of need so do whats right and return the favor by paying it back. If he wanted to, he could take you to court and sue you for the money. Before it gets that far and you loose in court and loose a friend just pay him by whatever means possible.

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The check was stale was probably stale dated....obviously you were not communicating with your friend about this debt.

You ever watch Judge Judy?  The People's Court?  Your friend can sue you....you might wanna check the court dockets to see if a case has been filed.  A judgment against you will severely damage your credit.  Work out a payment plan with your "friend" and stick to it.


How to Deal with Illegal Loans..OhioGal's Primer
PDL's are ILLEGAL in the following states...
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states

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May be your friend hasn't yet filed a lawsuit against you. You may certainly take this opportunity to negotiate fresh repayment terms. See if you can give a true picture of the entire situation to your friend.

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Pay back your friend. You have taken out the loan. So. it is your responsibility to pay it off. Your friend can definitely file a lawsuit against you. You'll receive summons when your friend files a lawsuit against you.

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