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skelly151, Lawyer
Category: Legal
Satisfied Customers: 2368
Experience:  Litigation specialist, Probate and Estate law, Collection law, contract disputes, builder issues
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I loaned money to someone two years ago and they have failed

Resolved Question:

I loaned money to someone two years ago and they have failed to meet the repayment deadline we agreed upon. He signed a promissory note saying I could sue him for remaining balance and all costs and fees as allowable by Colorado state law. His remaining balance is $680. Is it worth my time and effort to take him to court? How much could I sue for?
Submitted: 8 years ago.
Category: Legal
Expert:  skelly151 replied 8 years ago.
You can file suit in small claims court for up to 3000. The amount is low but you can recover the filing fee and post judgment interest so yes you should file suit.
Customer: replied 8 years ago.
Will I need to retain a lawyer or will the promissory note be sufficient to prove the loan took place?
Expert:  skelly151 replied 8 years ago.
You do not need a lawyer to sue in small claims court and the promissory note will besuffiecient to prove up the loan.
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