I have a question. I was going to do business with someone, which winded up not working out. But in the midst of the relationship she asked if I would give her a personal loan via a HomeDepot line of credit. I took it out for $20,000. She charged almost the entire credit card (which was opened in November 2006 and had a 1 year 0% APR promotion). She only paid off $6000 within the first year, and the remaining 13k had all of that interest (about 2k) put back on. So by January 2008 she owed a little over 15k.
It's now nearing the end of 2008 and our original agreement was that she'd pay the card off by January 1 of 2008, which obviously she hasnt done. She's currently making minimum payments (which averages 400 per month) but she's claiming not to have all that money to pay off the rest just yet.
Question is can I sue her in court to get her to pay the credit card (which is in my name only). If you're wondering about a contract, right now everything is in email. She admits several times that all that money was charged up by her and that she has every intention to pay. Plus, she was charging the account on the authorized card I took out in her name (which I eventually closed of course). So she doesn't deny owing me at all.
So, would it help to take her to court? Also, if I win, will she be responsible for legal fees? One more piece of background: at the time we took out the card, she was making 250k per year and had 50k sitting in her bank account and now she's claiming she closed her business due to the bad economy and is struggling to pay her mortgage.
Thanks in advance for your help!