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Barrister, Attorney
Category: Legal
Satisfied Customers: 36992
Experience:  16 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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This question is based on business law based on verbal contracts

Customer Question

This question is based on business law based on verbal contracts in New York the statute of limitations is up in the next several months. ... I lent someone 20,000 over s a span of a year and a half and only once did an amount exceed 5000. Dollars, all other loans were under that amount. The person has not paid me back. What is the best way to handle this . Do I go through small claims with several claims or another way and sue for my full 20,000 dollars in one shot.
Submitted: 1 year ago.
Category: Legal
Expert:  Barrister replied 1 year ago.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question..Were these many different loans with different repayment dates?.Or was this one $20K loan that was disbursed over time in small increments?.Do you have written documentation of each individual loan if they were separate loans? (i.e. texts, emails, letters, etc.).How long ago was the first loan made?.thanksBarrister
Customer: replied 1 year ago.
Theses were several loans like I thought I stated over a year and a half . The statute of limitations has run out on a few with several remaining. The only documentation I have states the total sum, not the smaller individual loans that actually occurred. The taped conversation refers to the 20,000 dollar total. I am running out of time for the next installment that I gave him on April 12, 2010.
Expert:  Barrister replied 1 year ago.
Ok, then if you made individual loans, then your best recourse here is to sue him for each loan individually in small claims court so you don't run into a problem with the small claims limits and have to hire an attorney and file suit in a higher court. So if the goal is to pursue this as inexpensively as possible, then you would want to pursue each loan separately in small claims court..If you wanted to just sue the person once and didn't mind paying an attorney to assist, then you could just lump all the loans that weren't past the statute of limitations and sue in one lawsuit in a higher court..As you are likely aware, there is a 6 year statute of limitations on an oral contract for you to pursue it under a breach claim. So anything older than 6 years that was in default would be beyond the limit for you to try and pursue now...thanksBarrister