If I loaned $20,000 to a friend but he stopped paying me back and is now moving out of state, should I try to sue him while he is still lives here?

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If I loaned $20,000 to a friend but he stopped paying me back and is now moving out of state, should I try to sue him while he is still lives here?

Or do I need to do this in the state that he is moving to? We had a verbal agreement that he would pay me back $200 month but he has only paid back $1,500. I just found out he purchased a home and is moving.

Asked on June 22, 2015 under Bankruptcy Law, Nevada

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

Sue him right away, and in the lawsuit, seek "emergent" (think: "urgent" or "emergency" relief) in the form of a court order (injunction) requiring him to deposit the money with the court pending resolution. While you legally can sue him in another state, it is more difficult and more costly for you--you want to sue him in your state if you can, and if possible, you want to keep his money here (with your local court), too, since collecting from other states, if you win the lawsuit but your "friend" still will not pay, can be difficult. Since seeking emergent relief adds complexity, given how much money is at stake, you should retain an attorney to help you.


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