In Sept of 2009 in New York State I loaned my brother $1500 to be paid back $150 per month for ten months. he made only one payment in 10/09, saying he was bankrupt which was a lie. He declared bankruptcy way before then. We both now live in Palm Bea ...

Submitted by joyfein1 on

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In Sept of 2009 in New York State I loaned my brother $1500 to be paid back $150 per month for ten months. he made only one payment in 10/09, saying he was bankrupt which was a lie. He declared bankruptcy way before then. We both now live in Palm Beach County, FL. Can I sue him for the principal of the loan plus interest in small claims court? I have a non=notarized IOU. Joy Feinberg. thanks

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RJasondeGroot's picture

I would need to know a lot

Submitted by RJasondeGroot on

I would need to know a lot more than you have provided here. The statute of limitations on contracts, in Florida, is 5 years, and you appear to be well beyond that. So, it might be a waste of good money to pay the filing fee and the cost of service of process, unless he just does not raise the statute of limitations defense and get the case dismissed.

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RJasondeGroot's picture

I would need to know a lot

Submitted by RJasondeGroot on

I would need to know a lot more than you have provided here. The statute of limitations on contracts, in Florida, is 5 years, and you appear to be well beyond that. So, it might be a waste of good money to pay the filing fee and the cost of service of process, unless he just does not raise the statute of limitations defense and get the case dismissed.