Consumer Law, Warranties is a verbal agreement to pay back loan binding?

[pedzmail]

four years ago i helped my brother-in-law pay off his considerable credit card and other debts (over $20,000) by using my home-equity loan. the verbal understanding was that he would pay me a much smaller minimum amount monthly than he was currently having to pay to the numerous creditors he had. They started paying me back immediately, but 3 months later my sister-in-law left him (for very valid reasons), and since then he has not paid back a penny of the money. my sister-in-law continues to make as much of a monthly payment as she can manage, even though the debts were to the greatest extent, incurred by him during the marriage. i have documentation of all the debts i paid off (i.e. credit card, tax bills etc.), which have his name on them.

since i have no written agreement, do i have any legal recourse to try to get him to pay back any of the debt?

 

[army judge]

You certainly can bring a case against him.
Any documentation you have will help your case.
If his ex-wife is privy to the conversations that were had about the "loan", ask her to testify on your behalf.

I suspect that he still owes you more than $15,000, so you can't bring this action in small claims, if you want to collect what he owes and not the statutory maximum.

The statutory maximum in New York is only $5,000.

From what you say, you have a good case.
In the future, always get a loan of this amount in writing.
This won't be a slam dunk, but you have a prima facie case.

You more than likely will need a lawyer.
You can do it pro se, but it won't be easy, especially if he lawyers up!!!

 

[jharris352]

He will likely admit that you paid the credit card off for him but claim it is a gift. No Judge is going to believe that, too much money. If he has the money to pay and simply is not paying then sue. If he has no money to pay the suing is like pissing in the wind so to speak.