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Loren, Attorney
Category: Business Law
Satisfied Customers: 28511
Experience:  30 years experience representing clients .
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I borrowed money from a friend and it was 200k I gave back

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I borrowed money from a friend and it was 200k I gave back part of the money and I lost the rest of the money in stock market and I have nothing to give him and their was no contract between us what is the law saying in this case
Thank you for using JustAnswer. I am JudgeLaw and I will do whatever I can to answer your question and provide you excellent service.

I am sorry to hear of your dilemma. I realize how frustrating this is for you, but I believe I have information which you will find helpful.

If your friend chooses, they would need to sue you for the remaining balance. With a judgment they can garnish your wages, bank accounts or attach other property to satisfy the judgment. Unfortunately for them, if you have no assets available to pay the judgment, there is not much else they can do about it.

It is my privilege to assist you. Let me know if you need further information.  I hope I have helped you beyond your expectations in the service I have provided to you.  I am here for you.

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Thank you.

Loren and other Business Law Specialists are ready to help you
Customer: replied 3 years ago.
If I have nothing to return for him can put me in jail
Thank you, XXXXX XXXXX following up with me.

No, you can not be put in jail for a debt. There is no debtors' prison.

I hope this is helpful.

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